PayPal have taken payment but company no record of receiving
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Yes, sometimes there are glitches and PayPal order fails to go through properly.
Now with most transactions with retailers, they use a method called Authorization to Capture. An authorization is initiated from your purchase and the funds are held pending merchant processing the payment, but if the order fails to go through, the merchant has no way of managing the authorization therefore the authorization has to be left to expire in no longer than 30 days. Authorizations are an agreement with the merchant to pay and so only the merchant can release you from the agreement. It can't be canceled by your bank or PayPal. It is not a completed charge so it can't be disputed either because it expires on its own if funds are not captured. Its a drag because of the funds are being held but it'll eventually be released back into your account.
Kudos & Solved are greatly appreciated. 🙂

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