Launched aimed at millions of Indian underbanked customers, the new card delivers card-to-card transfers, remote top-up, along with new options for saving and spending.
Apart from this, it will also allow the cardholder to load funds on the cards of family members or to transfer funds card-to-card across the country.
It is expected that the US payment provider will roll out this feature next year.
Western Union global prepaid senior vice president Mike Hafer said, "The new card will give Indians benefits similar to those offered by mainstream banked cards without the restrictions of maintaining an average daily balance limit or being denied for creditworthiness."
Under this facility, the cardholders can add funds to their cards through direct deposit from payroll or government payments, by loading their own cash at select Western Union Agent locations or with a money transfer.
The payment service provider through its branded services such as Western Union, Orlandi Valuta and Vigo offers money remittance with the help of its network of over 510,000 Agent locations across 200 nations and territories.
Trading in 16 nations across the globe, the bank manages a network of 2,773 branches and 9,363 ATMs in India and had $93bn in assets by the end of 31 March 2012.
As a global payments and technology provider and managing the world’s fastest payments processing network, MasterCard connects consumers, financial institutions, merchants, governments and businesses in more than 210 geographies and territories.
