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TL;DR I had this issue too, I switched the Paypal payment source from bank to credit card and it fixed it.
I had this issue all of today, I tried eight times across chrome, the mobile ebay app, and safari - and had various 'payment processing errors' every time - I even rang PayPal to sort it out (unsuccessfully). Apparently it's because they're being hammered with so many purchases during the last hours of this deal, but they could not provide a fix other than to 'try again later'.
Anyway I switched the PayPal payment source from my bank account to my credit card and it fixed it immediately. They both draw from the same account, so it's clearly some issue on PayPal's side, but whatevs.

edit: payment has gone through .thanks





Could not buy via PayPal error during checkout. Anyone else have similar issues? Thanks