Beam is a mobile payments platform that intends to extend the reach of the prepaid mobile wallet by offering what it claims a simple consumer facing product. The company's CMD, Anand Shrivastav informs that it is planning a big relaunch and also intends to venture into virtual goods payments. Excerpts from an interview with Shrivastav: MediaNama: What has been Beam's approach to the prepaid payments market? Shrivastav: We were ab-initio pretty clear that even though Beam is a financial product, our approach has always been to treat it as a consumer product. MediaNama: But how's it different from other prepaid players such as ITZ cash? Shrivastav: They are a predominantly whole-sale aggregator model with agents that they appoint for transacting on behalf of the customer. In contrast, Beam is a consumer facing product. Prepaid cards are retailed to the end customer who transacts, who loads the instrument directly on his mobile and does all the transactions. There's direct interaction with the brand all the time. At the same time we have franchisee brand shops and individuals, who offer assistance. Last but not the least we actively acquire not only merchants which provide online services but we also have built a huge ecosystem of more than 20,000 offline merchants: mom and pop stores, grocery and medical stores, food joints etc, where our customers can access and pay remotely. MediaNama: How do you acquire customers? Tell us about Beam's customer acquisition strategy. How do you inspire confidence in the payments business? Shrivastav: To a new market we…
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
News
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
Advert
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
News
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...
News
Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...