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.
- Apple enters financial services market with privacy-first credit card
- Apple Pay expands to transit systems in the US
- Mastercard sets out vision for consumer-centric digital identities
- ING Romania to let customers withdraw cash with just their mobile phones
- SBI adds cardless mobile cash withdrawals at 16,500 ATMs across India