Telr Aims to Revolutionize Online and Mobile Payments in the emerging markets
Singapore, March 4th 2014
Ex-Managing Director of PayPal Middle East and North Africa, Elias Ghanem, has started Telr, a multi-currency and multi-lingual payment gateway for SMEs to transform the $100 billion online and mobile payments market1 in the Middle East, Africa and South East Asia.
Despite having a wide variety of payment gateways (PG) around the world, major problems still exist for e-commerce in emerging markets. PG integration can often be slow, costly and complex. Most merchants face difficulty and high cost of integration, absence of working capital financing and lacking unified payment and logistics integration. Telr aims to solve these three crucial challenges.
"Through my career, I've met hundreds of entrepreneurs who face the same hassle when it comes to taking their business online," says Ghanem, CEO and Co-founder of Telr. "Our payment gateway will allow them to focus on their core business and offer the best customer experience possible."
Having a tagline of "Your Language. Your Currency." Telr will provide online and mobile multi-currencies Payment Gateway (PG) processing services to merchants in emerging markets, in the consumer's currency and language of choice.
Telr's competitive advantages:
|Legacy Payment Gateways||TELR|
|Consumer experience only in English||Language of consumer|
|Only in USD currency||Currency of consumer|
|Setup is inefficient, expensive, time-consuming||Setup is fast with no upfront costs|
|Lacking mobile payments||Mobile payments enabled|
|Basic payment services and no financing services||Tokenization, insurance and financing|
|Only Cards payments and no solution for C.O.D.||Multiple funding sources and solution for C.O.D.|
Telr's suite of services aims to maximize the merchant growth thanks to an easy access to the proceeds (either in local bank or on a dedicated, card-linked account) and other financial services, such as working capital loans and invoice factoring, enabling SMEs to kick-start and grow their online business.
"Telr aims to significantly contribute to the growth of eCommerce merchants. Especially in high growth regions where currently consumers mostly purchase online from e-stores in US, Europe and Asia for the lack of local supply." says Ghanem.
The main differences between Telr and other PGs are Telr's management team and proprietary technology. Telr's team has more than 25 years of extensive experience in cards, online payments and PG set up from Paypal, Visa and HSBC. As part of Singapore's leading Financial Tech startup accelerator GHX, Telr will get an
established advisory board well versed in e-Retailing, banking, Cards schemes, Compliance, Risk and Fraud management.
GHX will also provide technology leaders with decades of experience in platform architecture and management. With that, Telr is built to enable merchants to quickly and simply offer payments solutions from multiple funding sources (cards, bank direct debit, wallets, domestic schemes and proprietary prepaid cards) in multiple languages and local currencies.
"The inefficiencies in most payment gateways make the industry ripe for disruption. Elias' team has the credentials to drive the payment revolution that everyone wants to see," says John Fearon, Chairman of GHX.
Telr is headquartered in Singapore with an Operational HQ in Dubai. It aims to contribute to the acceleration of the growth of the eCommerce by expanding its coverage across all the high growth markets in the Middle East, Africa and South East Asia.
For more details, please contact:
Head of Public Relations
+65 9451 9142
Telr is a Payment Gateway offering a set of unified APIs and tools that instantly enable businesses to accept and manage online payments via web, mobile and social media. Telr prides itself on offering the most secure, reliable and innovative online payment processing service available today in the Middle East. Telr has a team of passionate and experienced ePayments experts and a solid in-house developed platform aiming to revolutionize the payment gateways industry in Middle East, Africa and Southeast Asia through its unique value proposition of payment gateway and cash management solutions. https://telr.com; http://www.innovatepayments.com/
GHX (Gilcrux Holdings) is one of the world's most innovative investment holding companies. Founded by South African serial entrepreneur, John Fearon, GHX holds his equity in a growing number of exciting startups and established businesses. Spread across many industries, all entities in the GHX portfolio have in common to add technology to traditional businesses (financial services, insurance, invoice factoring, site back-ups, contracting hiring) to accelerate market penetration and improve on consumer experience in a cost-effective and fast growing manner. All entities aim to be game changing and go after grand ideas. GHX supports passionate entrepreneurs in their quest to improve the world - aiming to find interesting ways to disrupt established fields and do it bigger, faster and better.