PayPal applies for licence to launch mobile wallet in India

American payments company PayPal is eyeing a Prepaid Payment Instrument (PPI) licence to launch a mobile wallet in India, according to reports. This comes after earlier reports of PayPal holding acquisition talks with FreeCharge and its interest to invest in Flipkart-owned payments app PhonePe, that fell through. Earlier this month, Amazon was granted licence to launch mobile wallet in India.