Mar 18, 2014 (Tue): Elias Ghanem, the former managing director for PayPal in Middle East and North Africa (MENA) has setup Telr, a new payment service for emerging markets like MENA and Southeast Asia region, Gulf Times reports.
According to the report, the new service will combine payment, logistics and debt financing. It supports credit and debit card payment, cash-on-delivery, mobile payment and over the counter payment.
Ghanem said that a study revealed that online transactions in the MENA and Southeast Asia region will account for US$100 billion by 2015. He added that merchants in these regions have had problems to bring their business online because of high costs, lack of working capital financing and problems with unified payment and logistics integration as compared to the West. He said Telr will help to address the issues.