If you're like me and launched Wallet on your new Windows Phone 8 account and saw multiple PayPal accounts listed, you can easily remove the extras by navigating to https://commerce.microsoft.com/PaymentHub/PaymentInstrument (click the Payment Options tab if it doesn't take you there through this link). Then click through each extra PayPal instance followed by the Remove link.  After that's done, go back to your Wallet and see that the extra instances say "needs attention".  You can delete those extra instances to permanently remove them from your Wallet.