Payment Service Provider Telr 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.
New Payment Gateway in Emerging Markets
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 and mobile in the consumer’s currency and language of choice.
"Evolve beyond a Payment Facilitator
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.
"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.”
Online Payments Industry in India
The Indian payments sector is witnessing a major investor interest in recent times. Last year, Paytm raised $680 million from Chinese ecommerce giant Alibaba Group Holding for a 20% stake. Mumbai-based payment solutions company, Citrus Pay, raised about $25 million 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 active on the Indian payments market include PayU, Razorpay, Newgen Payments and MobiKwik.