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Telr and Innovate Payments to merge.

Telr announced its merger with Innovate Payments.

Through this merger, Telr is attempting to:

Boost its credentials through its alliance with Innovate Payments.

Strengthen 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.

"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.

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Publication:CPI Financial
Geographic Code:7UNIT
Date:Sep 3, 2014
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