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MasterCard Inc. said Wednesday that it plans to launch a person-to-person mobile payment system this month.

The Purchase, N.Y., company's MoneySend system would work through text messages, a mobile Web site, mobile software, or a computer.

Initially the system will work only with prepaid card accounts from Bancorp Bank in Wilmington, Del.

However, MasterCard said it will expand the system as more of its issuing banks sign up.

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