The CacheManager encountered an error during a refresh of the cache: 'Commerce.PaymentMethodCache: The requested Performance Counter is not a custom counter, it has to be initialized as ReadOnly.
If you are getting this issue on commerce server sites. below is the solution:
1) Open the Commerce Server 2007 command line prompt
2) Type csconfig.exe /r Feature.MS.CS.PerfCounters and press Enter
3) Click next button to reconfigure performance counter on each steps.
4) Recycle the application pool for all applications which use the commerce server.