PayPal applies for mobile wallet licence in India?

PayPal has applied for a prepaid payment instrument (PPI) licence from the Reserve Bank of India (RBI) to enter the mobile wallet space in the country, according to the Economic Times. “PayPal is interested in getting a wallet licence and has discussed this with some industry associations,” sources told the publication. The move comes as Amazon India gains its payment licence to operate a prepaid wallet in the country.