As per the agreement, Telr will be responsible for onboarding merchants, after due diligence, full integration and manage risks during the ongoing transactions between buyers and sellers. In a bid to encourage more companies and entrepreneurs to build their online businesses, merchants participating in this programme will be eligible for services such as onboarding process and transactions to Arab Bank accounts in local currencies.
By the end of 2015, ecommerce transactions in the region will make up close to 50% of total transactions for the MENA region. A big part of this growth is driven by startups and small entrepreneurs. This is the first step towards expanding not only in their home country but also in other countries across the GCC.
In addition to the UAE, this partnership will open up opportunities for e-merchants and entrepreneurs that aspire to sell their services and products to other countries in Middle East.
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