Khalil Alami, the founder and CEO of Telr, a Dubai-based start-up, views cash as their main competitor, which he considers to be “our biggest enemy.” In 2014, when the payment gateway first launched in the UAE, businesses utilized PayPal or other European or US platforms that had high costs and poor customer service. This cost-intensive payment method created an opportunity for Telr to fill the gap.
Telr was established in 2014 by Elias Ghanem, a former general manager for PayPal in the MENA region, as a local online payment gateway that caters to the financial needs of the region. He left the company later. In 2019, Mr Alami, who has over 20 years of experience in the payments industry, took over as CEO.
Telr handles payments in over 120 currencies and 30 languages and provides a high level of security. It offers a variety of platforms to its users, including Visa, Mastercard, American Express, UnionPay, Apple Pay, PayPal, Sadad, Mada, and STC Pay. According to Mr Alami, their unique selling point is their ability to customize their services to meet the needs of each individual merchant, which is offered for free.
Initially, it was challenging to persuade people to switch from cash to online payments when Telr was first established. However, when the COVID-19 pandemic emerged, business dynamics changed. As traditional brick-and-mortar businesses strengthened their online offerings, cashless payments in the region surged due to the pandemic.
The pandemic forced people to adopt and trust digital payments, which was a challenging feat. Due to the precautionary measures implemented during the lockdowns, different methodologies were introduced in the region, causing a significant shift towards digital payments and e-commerce in customer behaviour.
