This partnership is expected to benefit MasterCard as well as Beam
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MasterCard has partnered up with Indian mobile wallet provider Beam to provide mobile companion pre-paid cards to its customers in the country. With the launch of this pre paid card more than 14 million Beam users will be able to transact online or at physical merchants and even access ATMs.
"Our collaboration with MasterCard Worldwide’s pre-paid card system enables us to offer our customers a unique product that fits their lifestyle and provides access to ATMs and card-transactions at merchants, further extending the reach of our Mobile Wallet to a wide range of cashless solutions and our endeavor to make Beam an aspired brand,” said Anand Srivastava, Chairman, Beam.
This collaboration between Beam and MasterCard will enable customers to make e-payments to book movie or travel tickets, pay utility bills, for fund transfers and even withdraw money from ATMs as well as Beam franchisees. These cards will be rolled out in July/August 2013 by Beam franchisees across the country.
This partnership is expected to benefit MasterCard as well as Beaml. India has more than 850 million mobile users and the potential for growth is tremendous.