We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 9 Sep 2014 11:59 AM

Font Size

- Aa +

Payment gateways announce merger

A merger between two payment gateways aims to advance payment and logistics for SMEs in the region

Payment gateways announce merger

SME payment gateway Telr has merged with fellow gateway Innovative Payments, in a bid to accelerate e-commerce adoption in the region.

The deal, which is effective from this month, will combine Innovate Payments’ advanced platform and strong presence in the UAE with Telr’s ambition to revolutionise the payment gateways industry in the Middle East, Africa and Southeast Asia.

Telr, a Dubai and Singapore-based three-pronged concept aimed at e-commerce start-ups, will initially focus on supporting the exponential growth of e-commerce activity currently taking place in the UAE and the GCC, with aggressive expansion plans across the MENA.

Telr, whose system is PCI DSS* level 1 certified and includes an integrated anti-fraud engine, also announced that the merger was carefully prepared not to impact the daily business of the existing clients of Innovative Payments.

In addition, the existing Innovate Payments management team will be retained to lead the Operations, Technology and Product development activities.

Andy O’Sullivan, head of operations and co-founder of Innovate Payments, said: "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.”

Elias Ghanem, CEO and co-founder of Telr, added: “Through the merger, we are delighted to say that Telr is on the path of executing on its vision in less than six months.

“The merger will boost our market growth and ambitious expansion plan to accelerate e-commerce adoption in emerging markets.”

Arabian Business: why we're going behind a paywall

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.