Mumbai based payments solutions company, YTS Solutions Limited has announced, acquisition of its business by Bharti Airtel. Post acquisition, YTS Solutions Limited will be integrated with the operations of Airtel Money Services Ltd, a 100% subsidiary of Airtel.
With this acquisition, Airtel will be able to expand its footprint in the payments sector by integrating the YTS business capabilities and unique service delivery model.
Manish Khera, Co-founder and MD of YTS Solutions will become CEO of Airtel M Commerce Services Limited and will take care of the growth and expansion of Airtel’s payments & mobile financial services business.
YTS founded in the year 2013 by Shweta Aprameya and Manish Khera. The company offers various B2B and B2C payment solutions like wallet solutions, eKash Solutions for MFI loan payments, MoSaPay for micro salary payments, Phatse for online payments, money transfer and loan solutions.
Commenting on the proposed integration, YTS Co-founder and CEO Shweta Aprameya said “Our entrepreneurial journey has been very fulfilling working at grass-root levels in India. Within a short span of time, YTS has been able to lay a strong foundation developing a long-term sustainable business in a market crowded with commoditized discounted offerings. We are glad that a large & reputed organization like Airtel respects and has accepted our business approach. The integration will enable us to expand our presence and catapult our plans many times over. We are excited about our future prospects and the roadmap ahead.”