Beam Money launches mobile money service in Uttarakhand post offices

Delhi-based mobile payment startup Beam Money Pvt Ltd has launched its service in 29 major post offices across the state of Uttarakhand.

Now customers in Uttarakhand can recharge mobile, data card and DTH connections; pay utility bills and make payments for rail, air & bus tickets, movie tickets and online shopping at a post office near them without using credit/debit cards or net banking, the company has said in a press release.

A couple of months ago, Beam Money launched its service in 100 post offices across Tamil Nadu to provide air ticketing facility to consumers.

Set up in 2009, the startup has developed its flagship product Beam Money, which is essentially a mobile wallet enabling users to transact via mobile for goods and services and also to transfer money. The company caters to both B2B and B2C space. In the B2B domain, it ties up with local merchants to offer payment services while in B2C, consumers directly register for services via its WAP site, app, the internet or even through SMS. It claims to have a user base of around 14 million and around 50,000 merchants on board.

In an earlier interview with Techcricle.in, Beam Money chairman and MD Anand Srivastava said that by next year, the firm would be targeting to double its user base by hitting the 25 million mark.

In February this year, Beam Money came up with a mobile companion pre-paid card in partnership with MasterCard. The prepaid card works with Beam's account and integrates with a user's mobile number. It enables consumers to transact at physical outlets, online and also at ATMs.

(Edited by Sanghamitra Mandal)