Bharti Airtel has acquired mobile payments solutions company, YTS Solutions.
The acquisition will integrate the payments and remittance businesses of YTS Solutions with the operations of Airtel M Commerce Services Limited (AMSL), a wholly-owned subsidiary of Bharti Airtel and will help expand the portfolio of Bharti Airtel?s mobile wallet, Airtel money.
Further, Manish Khera, co-founder and managing director of YTS Solutions, will be appointed as the chief executive officer (CEO) of AMSL.
Earlier in January 2015, AMSL, was one of the several mobile payments solution providers who had applied to the Reserve Bank of India (RBI) for a payments bank license.
