MasterCard has announced its partnership with Indian mobile wallet service Beam to create a mobile companion prepaid card. This card will allow people who are registered Beam wallet users to transact at certified MasterCard merchants and access ATMs.
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Beam is a mobile wallet that is used to pay your bills, recharge mobile balance and DTH connections, book movies and rail tickets among other things. With this partnership, a user will be able to connect their Beam wallet to the MasterCard acceptance and electronic payments which will allow them to do all the above along with being able transfer funds from their accounts and also withdraw money from ATMs. Also Read - Donald Trump does not consider Cryptocurrency as money; blasts Bitcoin, Facebook Libra
The card will be available around August 2013 and will be issued by Beam franchisees across the country. Also Read - Mastercard says will start deleting data of Indian cardholders from global servers; warns of impact