Dubai-based payment gateway provider Telr has secured in-principle approval from the Central Bank of the United Arab Emirates (CBUAE) for a Retail Payment Services & Card Schemes (RPSCS) license.
This initial approval marks a major step for Telr, enhancing its capability to support and innovate within the UAE’s payment solution sector.
Telr, established in 2014, aims to unify the fragmented e-commerce ecosystem by facilitating the shift towards cashless transactions and digitising payment processes.
The company offers a comprehensive suite of services tailored for the e-commerce industry, including secure payment gateways, real-time transaction monitoring, and specific business solutions aimed at facilitating global expansion for its clients.
Among its notable innovations are Telr Split Payments, designed to streamline reconciliation for UAE merchants, and Telr Finance, which provides expedited access to business funding.
Khalil Alami
Khalil Alami, Founder and CEO of Telr said,
“I am thrilled to have achieved this historic milestone. This milestone is not just a reflection of Telr’s dedication but also of the dynamic and innovative spirit of the UAE’s fintech landscape.
We are deeply honored by the UAE Central Bank’s trust, and we remain committed to pioneering digital payment solutions that elevate businesses and drive economic growth across the region.”
Featured image credit: Edited from Unsplash
