Furthering its expansion into the mobile segment, telecom major Airtel, has acquired Mumbai based start-up, YTS solutions. The start-up has helped its customers perform banking amenities through the mobile platform.
YTS, which stands for Yatra, Tatra Sarvatra (here, there, everywhere), will be incorporated into Airtel’s mobile commerce platform Airtel Money.
YTS provides prepaid payments and digital money transfer to operators and financial institutions. Its current Managing Director and Co-founder Manish Khera will serve as the CEO of Airtel M Commerce Services Limited (AMSL).
In a market where start-up’s focus on solving the needs of the top players through technology, YTS’s driving force has been to concentrate on the financial growth of the micro customer. The company started out with a humble idea aimed towards meeting the requirements of underserved customers; be it investments, savings, loans and payments through innovative and relevant products.
The company has so far built products for the mobile platforms, ranging from prepaid mobile salary payments and processing, cashless management solutions for loan disbursement and collections and money transfers.
The company was founded in 2014 by Manish Khera, a banker by profession and is currently promoted and managed by Shweta Aprameya.