What is Airtel Money?
Airtel Money is a wallet from the popular indian telecom company Airtel, which allows you to send or receive payments. Airtel Money, India’s first payment bank is a subsidiary of Bharti Airtel and Kotak Mahindra Bank Ltd. It is a joint venture of these two companies. Bharti Airtel holds 80.01% of the stakes and Kotak Mahindra Bank Ltd. holds the remaining 19.99% of the stakes.
Airtel was launched in January 2017. It is headquartered in New Delhi, India.
YTS Solutions Pvt Ltd, a ‘payment processing solutions provider’, is a subsidiary of Airtel Money.
Airtel Payments Bank mainly came into being with the goal to establish a cashless system with the Indian Government’s cashless revolution aim. This wallet is said to have more than 30 million happy customers and 500 billion rupees worth annual transactions. This wallet allows all people across the country who have a device an proficient and convenient way of paying bills, recharging and transacting through various platforms such as iOS and Android.
Airtel currently operates Airtel Money as its main product of Airtel’s subsidiary Airtel Payments Bank.
Another thing is that most banks ask you to keep a minimum balance in your account. This can range from Rs. 1,000 and go up to Rs, 10,000, if not more. However, with Airtel Money you do not have to worry about minimum balance. You can even operate with a balance of zero rupees in your account. Although if you have zero rupees in your account, you can't make any transactions.