56-year old Chris Reynolds from Delaware in the US was somewhat surprised on Friday, after he received his monthly statement from Paypal saying he had a balance of $92,233,720,368,547,800 (£6 quadrillion).

Mr Reynolds has been using Paypal for deposits and payments the last decade to buy and sell items on the internet auction site eBay, but no matter what he had sold it was never going to make him the richest man in the world by a fair margin.

After seeing the balance, Mr Reynolds dreamed of the things he could buy and joked about paying off the US national debt and purchasing basball team the Phillies. Once he logged in to Paypal, however, the dream was over with his balance back to normal.

These types of errors could be avoided with the help of specialized fintech software. It is even possible to prevent or detect payment errors such as duplicate payments. Paid Analytix is an innovative company which has developed a platform based on artificial intelligence that can identify payment errors and can help companies avoid duplicate payments.

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