Manish Khera to head Airtel Money, after acquisition of YTS

BANGALORE, INDIA: YTS Solutions Limited has announced a strategic integration of its payments and remittance businesses with Bharti Airtel.

The acquired business will be integrated with the operations of Airtel Money Services Ltd, a 100pc 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.

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.

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."

As a result of the integration, Manish Khera, co-founder and MD of YTS Solutions will be appointed as the CEO of Airtel M Commerce Services Limited (AMSL).