Telecom operator Bharti Airtel's mobile commerce subsidiary Airtel Money's total values of transactions in Africa has grown 72.2% to $3.33 billion for the quarter ended June 30, 2015 from $1.93 billion in the corresponding quarter last year. In the preceding quarter, Airtel Money in Africa had total value of transactions of $2.9 billion, a growth of 14.83% sequentially. The total customer base using the Airtel Money platform increased by 61.8% to 7 million as compared to 4.3 million in the corresponding quarter last year while the total number of transactions during the quarter has more than doubled to 198.2 million as compared to 97.7 million in the same quarter last year. During the quarter, Airtel Ghana launched a tap and pay mobile money payment service in Ghana. The service, through Airtel Money, allows contactless payment based on the Near Field Communications (NFC) technology. The company also said that Airtel DRC and Korongo Airlines have signed an agreement for air tickets purchase through Airtel Money. Airtel Money is currently present in 17 countries in Africa. YTS Solutions acquisition: Earlier this week, Bharti Airtel acquired the Mumbai-based mobile payment startup YTS for an undisclosed amount. Post acquisition, Airtel Mcommerce Services Limited (AMSL) will integrate the payments and remittance businesses of YTS Solutions. Additionally, the company has appointed Manish Khera, MD & CFO at YTS, as the new CEO of AMSL. Payments Bank license: Airtel Money parent Airtel M Commerce Services Limited (AMSL), which already has a prepaid payments instrument licence from the Reserve Bank of India (RBI), applied for a payments bank license earlier this year. The company had said that if it gets a…
- RBI increases UPI and recurring transaction limits for certain categories December 8, 2023
- The Quantum Hub discusses concerns on age verification and children’s data processing under India’s data protection law December 8, 2023
- India’s central bank to set up cloud facility for financial sector December 8, 2023
- Navigating the Complexities of Open Source AI: Insights from Carnegie India Summit December 8, 2023
- Supreme Court Dismisses Plea by Foundation for Media Professionals on Internet Shutdowns December 8, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
Factors like Indus not charging developers any commission for in-app payments and antitrust orders issued by India's competition regulator against Google could contribute to...
Is open-sourcing of AI, and the use cases that come with it, a good starting point to discuss the responsibility and liability of AI?...
RBI Deputy Governor Rabi Shankar called for self-regulation in the fintech sector, but here's why we disagree with his stance.
Straw man fallacy: IT Ministers’ defence of government exemptions in data protection law misses the point
Both the IT Minister and the IT Minister of State have chosen to avoid the actual concerns raised, and have instead defended against lesser...
The Central Board of Film Certification found power outside the Cinematograph Act and came to be known as the Censor Board. Are OTT self-regulating...
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...