Telr and Innovate Payments Merge to Create Revolutionary New Payment Platform for Online Merchants
Dubai, Singapore, September 3rd 2014
Telr, the multi-currency and multi-lingual payment gateway for SMEs, announced its merger with Innovate Payments, the most innovative payment gateway in the MENA region. With the merger, Telr is on the path to revolutionize the payment gateways industry in Middle East, Africa and Southeast Asia thanks to its team of passionate and experienced ePayments experts and solid in-house developed platform.
Through this merger, Telr is:
- Significantly boosting its credentials through this strategic merger with Innovate Payments.
- Strengthening its offerings to the online and mobile payments industry through its three pillars of payment gateway, unified logistics & payments APIs, alongside it's cash management solutions.
"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. The merger will boost our market growth and ambitious expansion plan to accelerate e-commerce adoption in emerging markets", said Elias Ghanem, CEO and Co-Founder of Telr.
"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.
The Telr group is unique in its kind for the following reasons:
- Extensive Payments Experience: It is headed by a management team who brings an extensive Cards, Payments, Acquiring and Telco industries background from PayPal, Visa, WorldPay, Motorola and Nokia.
- Global Reach and Local Experience: Telr 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. Innovate Payments has been processing online transactions for UAE merchants since 2012. It has witnessed robust growth in the number of merchants and volume of transactions processed over the last 12 months. Telr's merchants include Namshi, Careem, and Kcal along with government and semi-government agencies.
- Responsiveness to Customer Needs: With an in-house developed platform, Telr have 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.
Over the last few years, Innovate Payments have established themselves as the best payment gateway option in the UAE. The existing Innovate Payments management team will be retained to lead the Operations, Technology and Product development activities.
"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," adds O'Sullivan.
"Through the merger, we are delighted to say that Telr is on the path of executing on its vision in less than six months," mentioned Ghanem. Telr will initially 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.
* PCI DSS: Payment Card Industry Data Security Standard