Mobile payments and commerce platform Beam has rolled out its services in 29 major post offices across Uttarakhand. With this consumers can avail services such as mobile, data card, DTH recharges, utility payments, cinema, rail, air and bus tickets, including ecommerce payments at a Post Office near them without using credit/debit and net banking for payment purpose.
Beam operates a mobile based cashless financial transaction system allowing unbanked and banked to transact with anyone, anytime and anywhere including at Post Offices. Besides Uttarakhand, Beam had launched similar wallet services across 100 Post Offices in Tamil Nadu which provides air ticketing services to the consumers.
Earlier this year Beam partnered with MasterCard Worldwide to launch a prepaid card which will enable Beam’s mobile wallet users to transact at ATMs, physical merchants and online shops. Via this partnership Beam franchisees across the country will be issue prepaid cards from August 2013, which will be linked to the customer’s existing Beam account to shop and pay bills amongst others.
Currently Beam claims to have more than 14 million users in India with more than 50,000 partners across 500 districts in the country including Aircel, Airtel, BSNL, Idea, MTS, MTNL Delhi and Mumbai, Reliance, Tata Indicom and Tata Docomo including several others.
The company had also launched a mobile wallet app for the iPhone, called Beam Wallet, which enables iPhone users to use the Beam Money service on the go.
Beam competes with the likes of Airtel Money, My Mobile Payments, which had launched a semi-closed m-wallet in 2011, ITZ Cash, Loop Mobile which partnered with ZipCash to offer a mobile payments service, Oxigen and Paymate.