If ‘payment gateways’ is the answer, what is the question?
More often than not the question is something along the lines of ‘what gives start-ups and SMEs the biggest logistical headache?’
For the truth of the matter is that payment gateways have long been underdeveloped in the region, driving many new companies to despair, and costing them time and money in the process.
In a part of the world where cash-on-delivery is still king, something has to give in the world of digital payments, and now it seems there is light at the end of the tunnel.
Using his 16 years of experience in cards and payments – including 12 years with Visa, and four years as Managing Director of PayPal Middle East – Elias Ghanem has co-founded a new digital payment proposition which could revolutionise the market in more ways than one.
Telr – based in Dubai and Singapore – is a three-pronged concept aimed at helping e-commerce start-ups build and grow their business efficiently.
Its trio of components includes a secure, multi-lingual, multi-currency payment gateway; unified logistics and payment API (Application Programming Interface); and a funding option designed to give merchants a cash advance on their transactions.
Speaking on the sidelines of the Mobile Show Middle East, Ghanem told StartUp: “E-commerce businesses in the region are growing, the economy is booming again, and card payments are coming up. But there’s a lot that we can do better.
“Payment gateways in this region have to improve, and that’s what we wanted to do. That’s why we started with Telr. We aim to solve the issue of payment gateways for emerging markets. For the whole of the Middle East, Africa, and South East Asia.
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