YTS - Yatra Tatra Sarvatra
YTS Solutions and Airtel Money align mobile payments business
YTS Solutions Limited, a leading payments solutions company, today announced a strategic integration of its payments and remittance businesses with Bharti Airtel (“Airtel”), the 3rd largest mobile service provider globally. The acquired business will be integrated with the operations of Airtel Money Services Ltd, a 100% subsidiary of Airtel.
Backed by this acquisition, Bharti Airtel will expand its footprint in the payments sector by integrating the YTS business capabilities and unique service delivery model. Further this move will strengthen Airtel’s long term commitment towards driving financial inclusion in India fortifying its portfolio in the mobile commerce segment.
YTS, a fast growing Indian startup based out of Mumbai has been developing innovative financial products focused on mass market and micro-transactions. The array of products developed by YTS have been designed to suit the needs of migrants in urban cities & their families in rural towns and villages through an integrated physical and digital channel anchored around mobile payments technology.
Commenting on the business merger, YTS 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 Bharti Airtel respects and has accepted our approach to this market and the business model. 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."
With Airtel's large customer base, nationwide presence and existing infrastructure, we believe there are synergies which will strengthen the entity’s position in the mobile payments industry, she further added.
As a result of the integration, Shweta Aprameya would be appointed as the SVP & COO of Airtel MCommerce Services Limited (Airtel Money) and will be part of the management team of Airtel Payments Bank. The team from YTS will play a pivotal role in setting up the bank and expansion of Airtel’s mobile financial services business.
In January 2015, AMSL applied to Reserve Bank of India (RBI) for a Payments’ Bank License.
About YTS Solutions:
YTS, established in December 2013, has a vision to set up an integrated digital & physical hub delivering innovative affordable “with frills” solutions to fulfill the needs & dreams of the masses & often the unbanked segment of India through meaningful partnerships.
YTS wants to be around its customer – physically and digitally, fulfilling the requirements and becoming a partner in the growth. The centre of everything for YTS is the customer, the ‘aspirers’.