Uber is to extend its partnership with PayPal to explore future commercial payment collaborations, including the development of a digital wallet for the on-demand transport firm.

The news was revealed in a statement on LinkedIn by PayPal’s president and CEO Dan Schulman, who also confirmed that the company is to make a US$500m investment in Uber.

PayPal has been Uber’s lead payment processing partner in the US and Australia since 2013.

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