On 3rd September 2014, multi-currency and multi-lingual payment gateway for SMEs – Telr – announced its merger with the one of the most innovative and widely used payment gateways in the MENA(Middle East and North Africa) region, Innovative Payments.
"The combination of a strong team, right set of products and services, secure and innovative technology, along side solid partnerships will set Telr apart and give us an unmatchable kick-start in the UAE and across all the high growth markets. Telr’s ambition to revolutionize the payments landscape across all emerging markets complements Innovate Payments’ strong presence in the UAE and advanced platform,” commented the CEO and Co-Founder of Telr, Elias Ghanem, in a press release. “The merger will boost our market growth and ambitious expansion plan to accelerate e-commerce adoption in emerging markets”, he added.
- Telr stated that this merger further propels the company on a path to revolutionize the payment gateways space in Africa, Southeast Asia as well as the Middle East.
- The company gives credit to its team of experienced ePayments experts as well as solid in-house developed platform.
- With this merger, Telr says that it strengthens its offerings to the online and mobile payments industry.
What Telr Brings to the Table:
Widespread Payments Experience: The company is headed by a management team who brings an extensive Payments, Cards, Acquiring and Telco industries background from PayPal, Visa, WorldPay, Motorola and Nokia.
Global Reach as well as Local Experience: Telr says that it is fully set up to accelerate the e-commerce ramp-up across all the high growth markets in the Middle East, Africa and Southeast Asia. Telr’s merchants include Careem, Kcal and Namshi along with government and semi-government agencies.
Response to requirements of the user: With an in-house developed platform, Telr has complete control of the functional development roadmap, offering to their merchants an easy-to-use and fast on-boarding solution. Telr Payment Gateway is the only one in the region that is PCI DSS* level 1 certified and includes an integrated anti-fraud engine, says the company.
“Innovate Payments is the fifth payment platform we have launched since 1997, and is the first PCI DSS Level 1 Certified Gateway in the region. Merging with Telr will allow us to develop new products and strengthen our presence in the UAE and beyond,” commented Andy O’Sullivan, Head of Operations & Co-Founder of Innovate Payments. "Merging with Telr gives Innovate Payments the ability to scale-up our operations, accelerating our expansion into new markets and expanding our existing product-sets,”
Initially, Telr will focus on supporting the exponential growth of e-commerce activity currently happening in the UAE and the GCC, with aggressive expansion plans across the MENA from it’s Dubai Hub as well as in Southeast Asia through its headquarters in Singapore.