Bharti Airtel Acquires Mobile Banking Platform YTS Solutions

0
233

Bharti Airtel has recently acquired YTS Solutions Private Limited an online payments solutions company. The financial details of the deal on acquisition remained undisclosed. YTS Solutions will be integrated with the operations of Airtel M Commerce Services Limited (AMSL) wic is a 100% subsidiary of Bharti Airtel. YTS Solutions Private Limited is an Indian startup founded by Shweta Aprameya and Manish Khera  in 2013 .

Bharti Airtel  Limited is an Indian multinational public  telecommunications services founded by  Sunil Bharti Mittal  in 1995.Their products include Fixed line and mobile telephony,  broadband  and fixed-line internet services, digital television  and Internet Protocol Television ( IPTV).It is  headquartered in New Delhi and is  the largest cellular service provider in India with 228.25 million subscribers as on  April 2015. It extend its services in  20 countries across South Asia, Africa, and the Channel Islands Depending upon the country of operation Airtel  provides Global System on Mobile communications (GSM),3G or 4G LTE mobile services and voice services.

YTS stands for ‘Yatra Tatra Sarvatra,’ a Sanskrit phrase and means Here, There, Everywhere and in short it refers to Ubiquitous Service. It is headquartered in Mumbai. YTS operates as a   mobile banking platform that helps customers to carry out their banking services using the mobile device. It is India’s largest business correspondent network and offers various solutions on online payment for both business to business and business to consumers. The B2B payment solutions include eKash Solutions for loan payments, MoSaPay for micro salary payments and Phatse for other online payments.  The B2C payment solution offered by YTS includes Tez solutions that transfer money and other solutions for loans, insurance, mutual funds etc. YTS have partnered with Union Bank, RBL Bank, redBus, Unicel, PayU and BillDesk to offer these solutions to its customers.

Manish Khera, the MD and CFO of YTS Solutions is now appointed as the CEO of Airtel M Commerce Services. This acquisition enables Airtel to use the online platform and expand its portfolio in mobile payments segments. It also enables Airtel’s flagship in semi-closed wallet payment under the brand name ‘Airtel Money’.

LEAVE A REPLY

Please enter your comment!
Please enter your name here