Bharti Airtel to acquire YTS Solutions

New Delhi, Aug 3 (IANS) Bharti Airtel is all set to acquire digital financial service provider YTS Solutions and appoint its co-founder and managing director Manish Khera as CEO of Airtel M Commerce Services Limited (AMSL), its flagship semi-closed wallet under the brand name ‘Airtel Money’.

“AMSL, the wholly owned subsidiary of Airtel’ also announced that it would integrate the payments and remittance businesses of YTS Solutions,” Bharti Airtel said in a statement on Monday.

The company, however, did not disclose the size of the acquisition.

In January 2015, AMSL, which had launched Airtel Money in 2011, applied to Reserve Bank of India for a Payments’ Bank licence.

Once appointed as CEO, Khera will be a part of the Airtel management board and report to Gopal Vittal, managing director and chief executive officer of Bharti Airtel (India & South Asia).

“A trend-setter in the domain areas of financial inclusion, payments & banking, Manish combines the spirit of entrepreneurship with a passion for technology and commitment to serve millions,” Vittal said in the statement.

Airtel has a customer base of over 230 million in India with over 100 million rural customers. The company’s network covers 4,30,000 towns and villages backed by 1.5 million distribution outlets.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of or any employee thereof. is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here