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Acquiring financial solutions firm <keyword id="2982350" type="UNKNOWN" weightage="100" keywordseo="YTS-Solutions">YTS Solutions</keyword> for an undisclosed amount, <keyword id="6354287" type="CITY" weightage="100" keywordseo="Bharti-Airtel">Bharti Airtel</keyword> announced appointment of YTS Solutions’ co-founder <keyword id="250701" type="PERSON" weightage="100" keywordseo="Manish-Khera">Manish Khera</keyword> as CEO of Airtel M Commerce Services, which offers Airtel's flagship semi-closed wallet under the brand name 'Airtel Money'. 

	Both Airtel and YTS Solutions in separate statements said that business of YTS Solutions will be integrated with AMSL. 
 "The acquired business will be integrated with the operations of <keyword id="2982464" type="UNKNOWN" weightage="100" keywordseo="Airtel-Money-Services-Ltd">Airtel Money Services Ltd</keyword>," YTS Solutions said. 

	Based out of Mumbai, YTS has been developing financial products focused on mass market and micro-transactions. 
 

	"This acquisition will expand Airtel's portfolio in the mobile commerce segment and bring in a host of new product capabilities targeted at migrants in urban cities and their families in rural towns and villages," Airtel said in a statement. 
 

	Khera succeeds Govind Rajan who resigned from the firm to join e-commerce company Snapdeal as its Chief Strategy Officer. 
 

	After appointment, Khera will be a part of the Airtel Management Board and report to Bharti Airtel, India and South Asia, MD and CEO Gopal Vittal. 
 

	Prior to founding YTS, Khera was MD and CEO of FINO Pay Tech Ltd, and earlier worked in ICICI Bank. 
 

	"I am delighted to announce that Manish Khera will join AMSL as Chief Executive Officer. A trend-setter in the domain areas of financial inclusion, payments and banking, Manish combines the spirit of entrepreneurship with a passion for technology and commitment to serve millions," Vittal said. 
 

	In 2011, AMSL announced the launch of Airtel Money and in January 2015, it applied for a Payments' Bank Licence. 
 

	Airtel, India's largest mobile operator with a customer base of over 230 million, covers 4,30,000 towns and villages backed by 1.5 million distribution outlets.

	 
	 
	(Image credits: Indiatimes)

Bharti Airtel acquiresYTS Solutions: Deal will boost wallet services

New Delhi, Jan 22 () Telecom major Bharti Airtel has partnered with money transfer firm Western Union, wherein the former's payments bank customers can receive international remittances into their accounts, says a joint statement of the companies. 
The agreement is only for receiving money in Airtel Payments Bank account in India and Airtel Money account in 14 African countries from Western Union. 
"Collaborating with Western Union on these two flagship initiatives in both India and Africa reflects Bharti Airtel's keen commitment to transform the quality of lives of millions of people across emerging and developing markets. We are delighted to contribute to the development of a sound and inclusive payments ecosystem in emerging markets to spur financial inclusion and economic growth," Bharti Airtel Chairman Sunil Bharti Mittal said.
The partnership will enable Airtel Payments Bank customer to withdraw money from its authorised 5 lakh outlets.
A Bharti Airtel official said that the service to withdraw money received through Western Union is operational at around 1 lakh outlets in India and it will become available across the country in the next few days. 
As of September 30, 2019, Western Union money transfer included over 550,000 retail agent locations offering services in more than 200 countries and territories. PRS MKJ

Bharti Airtel, Western Union tie up for money transfer service

New Delhi, Jun 28 () Airtel Payments Bank's revenues rose 87 per cent to Rs 474 crore during FY20, driven by surge in digital payments, money transfer and offtake of new services, according to its MD and CEO Anubrata Biswas. The payments bank sees a "massive headroom for growth" and its promoters remain committed to unlocking this potential, Biswas told . Last year, Bharti Airtel and Bharti Enterprises had injected an additional Rs 325 crore into the payments bank. "Airtel Payments Bank's revenues rose 87 per cent to Rs 474 crore during FY20, fuelled by surge in digital payments, money transfer, and offtake of new services", Biswas said. Addition of new services such as insurance to the portfolio, along with healthy adds in new savings accounts also buoyed the numbers. The company did not comment on profitability but said Airtel Payments Bank has turned 'contribution margin positive'. Contribution margin is defined as gross revenue minus all direct costs incurred in providing services to customers. These costs include payment gateway, transactional cashbacks and all commissions paid by the company. India's first payments bank now has 3.10 crore active customers, with a network of over five lakh neighbourhood banking points. These neighbourhood banking points are aimed at taking services closer to the customer, and have reached rural pockets that did not have access to banking services earlier, the company said. "Our performance is a strong endorsement of the payments bank model and its relevance to India's financial inclusion agenda. Digital technology and deep distribution reach will continue to remain the pillars of our strategy as we scale up further," Biswas said. During the COVID-19 lockdown, Airtel Payments Bank kept its service engine running by leveraging its retail based banking network to ensure that basic financial services are within the reach of millions of Indians, particularly in villages and tier 5/6 towns. These banking touch-points aim to ensure that the needy, especially at the bottom of the pyramid, do not face any inconvenience in these unprecedented times. "There is massive headroom for growth and the promoters of the bank remain committed to unlocking this potential," Biswas added. MBI ABM ABM

Airtel Payments Bank CEO says revenue up 87 pc in FY20; sees headroom for growth

<keyword id="363206" type="General" weightage="20" keywordseo="Airtel-Africa" source="Orion">Airtel Africa</keyword> has reported a revenue growth of 20.6 per cent for the year FY22, to $4,714 million, and 17.8 per cent for Q4FY22. <keyword id="15491" type="General" weightage="20" keywordseo="Airtel" source="Orion">Airtel</keyword> Africa is a leading provider of telecommunications and mobile money services, with a presence in 14 countries primarily in East Africa and Central and West Africa. Constant currency underlying revenue grew 23.3 per cent for the year and 19.1 per cent in Q4. Constant currency underlying revenue growth was strong in all regions -- Nigeria up 27.7 per cent, East Africa up 22.7 per cent and Francophone Africa up 17.2 per cent and across all key services, with revenue in voice up 15.4 per cent, Data up 34.6 per cent and Mobile Money up 34.9 per cent. Further, profit after tax grew by 82.0 per cent to $755 million. The Board recommended a final dividend of 3 cents per share, making total dividends at 5 cents per share for the entire fiscal. Segun Ogunsanya, Airtel Africa Chief Executive Officer, said: "This is another strong set of results for Airtel Africa, demonstrating our solid execution as we continue to enrich the lives of a growing number of people through leveraging the sizeable opportunity to promote digital and financial inclusion across our markets." The company has delivered strong double-digit growth in revenues across all our regions and all our key services, with improving margins driven by strong cost control, and expanding cash generation which is enabling it to continue to invest in it's network and services and expand distribution, as well as strengthening balance sheet and increasing returns to shareholders. "We are connecting more customers in new and existing coverage areas and driving usage levels and ARPUs to new highs. We have successfully executed on a number of strategic initiatives in the year, with tower sales completed in four countries, $550m of minority investments secured for our mobile money business and a successful buyout of minorities in our Nigerian operation." SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-results-q4-fy22-profit-revenue-subscriber-growth/articleshow/91374478.cms">Reliance Jio reports its strongest profit growth in five quarters as it offloads millions of low quality subscribers</a> <a href="https://www.businessinsider.in/stock-market/news/foreign-investors-have-pulled-out-1-5-lakh-crore-from-the-indian-markets-in-2022-so-far-heres-why/articleshow/91485411.cms">Foreign investors have pulled out ₹1.5 lakh crore from the Indian markets in 2022 so far — here's why</a> <a href="https://www.businessinsider.in/business/telecom/news/what-is-the-impact-of-new-vpn-guidelines-on-users-and-vpn-providers/articleshow/91468069.cms">Indian government's VPN guidelines will impact over 270 million users as VPN providers have no option but to leave the country</a>

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

Many instances in the past have proved that young India loves to raise the red flag. And when it’s about an issue, which is severely harmful for the interest of many, it’s obvious that people will come forward. With Indian Internet users voicing their support for net neutrality in the country, the telecom regulator has received more than 1.5 lakh emails over the weekend . 
 
In the last few hours, at nearly 10 emails a minute, the pace of such emails have touched record speed flooding the Telecom Regulatory Authority of India's inbox. 
 "This is completely unprecedented. We thought we'll get about 15,000 emails in 10 days," Kiran Jonnalagadda, one of people behind the campaign told the ET. Earlier, the telecom regulator had sought views from the public on regulating 'over the top' service providers like <keyword id="790242" type="UNKNOWN" weightage="60" keywordseo="WhatsApp">Whatsapp</keyword> and <keyword id="6377887" type="COMPANY" weightage="40" keywordseo="Skype">Skype</keyword>. 
 
The e-mail campaign to protect net neutrality began on Saturday around 3 pm through Savetheinternet.in website. A video created by popular standup comedy group All India Bakchod (AIB) also pushed many users to sign up for the campaign. 
 
The video was shared thousands of times within a short period on Facebook. Because of the unusually high number of shares, the social network mistook it for spam and took it off people's timelines. It was soon restored after many users complained. 
 
 
Net neutrality, or the notion that Internet service providers must treat all traffic as equal, became a topic of heated discussion after TRAI floated a consultation paper on "Regulatory Framework for Over-the-Top (OTT) Services" seeking comments from stakeholders. 
 Last week, telecom provider <keyword id="15491" type="COMPANY" weightage="60" keywordseo="Airtel">Airtel</keyword> launched Airtel Zero, a scheme through which companies can pay Airtel and have users browse their service free of data charges. The practice of allowing apps to be free of data charges to the consumer is called ‘zero rating’ in telecom parlance. 
 
By paying to be on Airtel Zero, companies can make sure that their users get free access to their service, while smaller players are at a disadvantage. Airtel has said that zero rating does not violate net neutrality as it lowers the cost of access and it is "non-discriminatory". 
 Many startups are staunchly opposed to breaking net neutrality. "It creates a class system all over again, this time, for people with money," Sai Srinivas Kiran, <keyword id="5645" type="POSITION" weightage="60" keywordseo="CEO">CEO</keyword> of Tewee, a hardware startup for video streaming told the financial daily. 
 Many politicians like Tathagata Satpathy, Derek O'Brien and <keyword id="205969" type="PERSON" weightage="60" keywordseo="Rajeev-Chandrasekhar">Rajeev Chandrasekhar</keyword> have also taken up the issue. In December 2014, Airtel had also tried to introduce a plan to charge Internet telephony companies like Skype and Whatsapp a higher tariff. However, the telecom operator withdrew the plan after public outrage.

​It's 1.5 lakh net neutralists vs Airtel,  Vodafone, Idea

<ul><li>The stock price of Reliance Industries is on the rise after the Supreme Court verdict on how to define <keyword id="728949" type="PERSON" weightage="20" keywordseo="adjusted-gross-revenue">adjusted gross revenue</keyword> (AGR) for telecom operators.</li><li>The stock prices of Airtel and Vodafone Idea, on the other hand, dipped sharply.</li><li>The financial impact of the verdict will be greater on the two legacy players in the market, leaving it weakened against the younger Jio and Mukesh Ambani's deep pockets.</li></ul> Reliance Industries' share price shot up by 1.77% on October 24 after the Supreme Court ruled in favour of the government in defining adjusted gross revenue (AGR) for telecom companies. But, it dipped back to its opening price of ₹1436.25 by end of the day. All telecom operators are now bound to pay a levy to the government⁠— including for past revenue⁠— on not just the money earned from core telecom services but also on dividends, handset sales, rent and profit from the sale of scrap in addition to revenue from services. Airtel will have to pay ₹21,682.13 crore and Vodafone will have to cough up ₹19,823.71 crore to the Indian government, according to the Department of Telecommunications (DoT). Given the huge financial impact on Vodafone and Airtel, they will be considerably weakened to complete against Mukesh Ambani’s Jio and its deep pockets. Both Airtel and Vodafone have huge debts and are bleeding cash in trying to retain customers from moving on to Jio. Reliance Jio also has high debt but its parent company, Reliance Industries, underwent one of the largest capital expenditure exercise by an Indian corporate. Of the $93 billion invested in different verticals, nearly half was invested in Jio. It’s network is already 5G-ready whereas Airtel and Vodafone still have a ways to go to upgrade their infrastructure. The budget set aside for making the network better and buying the 5G spectrum will now go into clearing the government dues . Meanwhile Jio can aggressively move towards acquiring more customers from these two peers.

It’s advantage Reliance Jio after Supreme Court verdict drains Airtel and Vodafone

Welcome to our new <keyword id="1987076" type="UNKNOWN" weightage="60" keywordseo="Payments-Insights">Payments Insights</keyword> newsletter, a morning email with the top news and analysis on the digital payments industry, produced by <a href="https://intelligence.businessinsider.com/welcome?utm_source=House&amp;utm_medium=Edit&amp;utm_term=PINSIGHTSutm_content=link&amp;utm_campaign=BIIMobile" target="_blank">BI Intelligence</a>. 
<a href="http://e.businessinsider.com/join/biipaymentsform" target="_blank">Click here to sign up for Payments Insights today, and receive it every morning in your inbox</a>.

<div class="image-container float_right click-to-enlarge" style="width:400px"><div class="image"><a title_source="Android Police" title_caption="" class="zoomin" href="http://static3.businessinsider.com/image/5093020ceab8ea9c18000008-960/google-wallet-card.png"></a><a href="http://www.androidpolice.com/2012/11/01/introducing-the-physical-google-wallet-card-coming-soon-to-google-wallet-and-more-new-features/">Android Police</a></div></div>GOOGLE IS TRANSFORMING PAYMENT CARD ACTIVATION: The recently released <keyword id="659753" type="UNKNOWN" weightage="60" keywordseo="Google-Wallet">Google Wallet</keyword> Card is a plastic payment card which allows users to make purchases using their Google Wallet account at merchants that do not accept contactless payments. The card allows users to pay in the same way that they would pay with a credit or debit card. 
Google has added a layer to that service, that allows users to activate their cards using the Google Wallet app. This differs from the legacy system in which payment cards are activated by calling in to an automated call center and entering card information.
The effort is aimed at simplifying the process by which Google Wallet Card users activate their cards. When a consumer signs up for the Google Wallet Card, the Google Wallet app will prompt the user to indicate whether the plastic card has arrived and if the user would like to activate the card. 
RETAIL BANKS SHOULD PAY ATTENTION TO IN-APP ACTIVATION: While the Google Wallet Card is about expanding the usefulness of Google Wallet, retail banks face a different problem. Unlike Google, they don't have to worry about getting users to adopt their card services because they already control the majority of bank card transactions through co-branded credit and debit cards.
But they do have to worry about staying relevant to consumers in the face of new mobile banking and payment solutions. One route they are taking to stay competitive is to offer consumers banking and finance apps.
Google's new activation system offers a model for how these banks could up app usage and improve customer service. Allowing users to activate their cards using the app has the potential to make life simpler for credit card users who prefer not to call a customer service number. On the flip side, it could also increase engagement with the apps themselves, encouraging a greater number of users to download the apps to activate their cards. (<a href="http://www.americanbanker.com/issues/179_1/google-lets-customers-activate-cards-in-mobile-wallet-app-will-banks-follow-1064623-1.html" target="_blank">American Banker</a>) 
 In other news...
Indian mobile carrier Bharti Airtel is expanding its Airtel Money services in Zambia. Customers will now be able to purchase insurance using their Airtel Money accounts. Customers in Zambia can already use the services to pay for airline tickets and utilities in addition to making peer-to-peer money transfers. Half a million transactions are made per month in the country already. The news is indicative of how telecoms are moving into payments in developing economies. (<a href="http://www.biztechafrica.com/article/airtel-nico-insurance-partner-mobile-insurance-pay/7463/?section=mobile#.UsWDhJRgZGN" target="_blank">BizTechAfrica</a>) 
Forty-one percent of Canadians will use their smartphones to make purchases in 2014, according to a report by Canadian telecom Rogers Communications - That's up from 34% in 2013. (<a href="http://www.mobilepaymentstoday.com/article/225443/Canadians-expect-mobile-payments-growth" target="_blank">Mobile Payments Today</a>) 
In the UK, Barclays is going to offer a trial service that will allow customers to deposit checks using their smartphones. Up until now banks in the UK have been required to see physical checks in order to deposit them into customer's accounts, but the UK government is considering legislation to allow for digital deposits. Barclays will be the first bank to provide a trial of the service. (<a href="http://www.finextra.com/news/fullstory.aspx?newsitemid=25571" target="_blank">Finextra</a>) 
QUOTE OF THE DAY: "We will finally realize that point of sale is irrelevant for mobile payments to take off and consumers will begin to adopt mobile wallets for uses other than paying at point of sale," says Lifelock's Mobile General Manager Wences Casares. (<a href="http://www.forbes.com/sites/tomtaulli/2014/01/01/ka-ching-mobile-payments-predictions-for-2014/" target="_blank">Forbes</a>)
European mobile carrier Mobile Vikings announced that it would begin accepting Bitcoin for payments in late December. The company says that it has already received almost 100 payments in Bitcoin. (<a href="http://newsbtc.com/2014/01/02/cellular-provider-mobile-vikings-receives-nearly-100-bitcoin-payments/" target="_blank">NewsBTC</a>) 
The consensus among three Indian mobile payment companies is that 2014 will be marked by a focus on the consumer experience as opposed to the merchant experience. (<a href="http://www.medianama.com/2014/01/223-digital-payments-india-2014/" target="_blank">Medianama</a>) 
WELCOME TO PAYMENTS INSIGHTS. This is our new newsletter covering all things payments. Don't forget to <a href="http://e.businessinsider.com/join/biipaymentsform" target="_blank">sign up</a> and get it every morning in your inbox. Please email <a href="mailto:johnh@businessinsider.com">johnh@businessinsider.com</a> or BI Intelligence director <a href="mailto:mballve@businessinsider.com" target="_blank">mballve@businessinsider.com</a> with news and tips.
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You Searched For "Airtel Money Services Ltd" and got 7 results

Bharti Airtel acquiresYTS Solutions: Deal will boost wallet services

BI India Bureau

Bharti Airtel, Western Union tie up for money transfer service

PTI

Airtel Payments Bank CEO says revenue up 87 pc in FY20; sees headroom for growth

PTI

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

IANS

It's 1.5 lakh net neutralists vs Airtel, Vodafone, Idea

BI India Bureau

It’s advantage Reliance Jio after Supreme Court verdict drains Airtel and Vodafone

Prabhjote Gill

Retail Banks Should Take A Close Look At Offering In-App Card Activation

John Heggestuen

Popular Keywords

Buying Guides

You Searched For "Airtel Money Services Ltd" and got 7 results

Bharti Airtel acquiresYTS Solutions: Deal will boost wallet services

BI India Bureau

Bharti Airtel, Western Union tie up for money transfer service

PTI

Airtel Payments Bank CEO says revenue up 87 pc in FY20; sees headroom for growth

PTI

Airtel Africa posts double-digit revenue growth and 82% surge in net profit on the back strong cost control and increased usage levels

IANS

​It's 1.5 lakh net neutralists vs Airtel, Vodafone, Idea

BI India Bureau

It’s advantage Reliance Jio after Supreme Court verdict drains Airtel and Vodafone

Prabhjote Gill

Retail Banks Should Take A Close Look At Offering In-App Card Activation

John Heggestuen

Popular Keywords

Buying Guides

It's 1.5 lakh net neutralists vs Airtel, Vodafone, Idea