International epayment gateway, Telr, has launched its services in India. The company aims to assist the country’s merchants in building robust online businesses through its secure payments gateway and value-added services.
Founded in 2013 by Sirish Kumar and Elias Ghanem, Telr, provides online & mobile multi-currencies payment gateway processing services and cash management solutions to merchants in emerging markets across Southeast Asia, Middle East and Africa. The unified applications and tools provided by Telr, enable businesses to accept and manage online payments via web & mobile in the consumer’s currency and language of choice.
Speaking on the launch, Sirish Kumar, co-founder & CEO of Telr said, “In emerging economies such as India, where new-age startups and online businesses are establishing themselves as the major growth drivers, there is an urgent need for the payments industry to evolve beyond being just a payments facilitator. New online businesses often face a lot of challenges such as high fees and endless paperwork during their early stages; Telr has been launched to introduce innovation when it comes to online transactions. We are here to eliminate the fragmentation that exists between key stakeholders in the ecommerce markets such as merchants, logistics services, web store providers and banks in order to facilitate seamless, smooth business growth.”
As an innovation partner to SMEs, startups and entrepreneurs, Telr brings offline merchants to venture into ecommerce. Its payment gateway aggregation and fraud management tools allows the online movement of SMEs at a low cost, while its Merchant Cash Advance (MCA) facility ensures the funding of their growth with help of its lending partners.
The Indian payments sector is witnessing a major investor interest in recent times. Last year, Paytm raised $680 Mn from Chinese ecommerce giant Alibaba Group Holding for a 20% stake. Mumbai-based payment solutions company, Citrus Pay, raised about $25 Mn from a group of new and existing investors. Around the same time, Citrus Pay also acquired Bangalore-based payment platform Zwitch for an undisclosed amount.
Other players in this segment include Razorpay, cloud-based Newgen Payments, MobiKwik and PayU, etc.
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