UK virtual network giffgaff has suffered a major service outage today, with water damage to its computer network taking nearly 8 hours to fix.

Most services have now been restored, although new connections and inbound ports are currently delayed.

International payment service PayPal has launched a new service called PayPal Here, which allows small businesses to accept almost any form of payment. It includes a free app and free triangular card reader, turning any iPhone into a mobile payment device. An Android version is due in April.

The service has launched with a number of merchants in the United States, Canada, Australia and Hong Kong; general availability in those countries will follow next month.

Heroes of Emerging Markets is an interactive, intimate panel discussion that looks at the opportunities of doing mobile business in emerging markets.  The event took place on 28th February 2012 during Mobile World Congress in Barcelona.

We’ve recorded the entire event and have turned it into a podcast. You can listen on our desktop web site here, by downloading the MP3 audio file or by finding TheFonecast.com on iTunes.

Heroes of Emerging Markets: recorded during Mobile World Congress 2012 in Barcelona. This panel discussion, sponsored by Pearson and arranged by mobileheroes.net, looks at the opportunities of doing mobile business in emerging markets.

Online mobile payment business BOKU has announced $35 million in new funding. Telefónica Digital, New Enterprise Associates and a number of other venture capital businesses will be joining previous investors.

BOKU says the money will be used to expand its team, broaden its infrastructure and continue its global expansion.