Telr Partners Aleta Planet To Connect Middle East Businesses With Chinese Consumers Through UnionPay Network
Dubai-based Telr, a leading payment gateway provider in the Middle East, and Aleta Planet, a China-centric Singapore fintech,today announced a partnership to enable Telr’s merchants to accept UnionPay cards for e-commerce transactions.
The partnership with Telrmarks a significant milestone for Aleta Planet as it looks to the Middle East to broaden its reach at a time when China-Middle East trade has soared and e-commerce in MENA (Middle East and North Africa) is growing at a double-digit rate.
Aleta Planet’sproprietary technology and Telr’s payment gateway will be integrated to enrol merchants into UnionPay’s global network, making it possible for UnionPay cardholders to make QR code payments for e-invoicing or online purchases with Telr’s merchants in the United Arab Emirates.
Telr’s merchants include small and medium-sized enterprises and start-ups operating in government, education, consumer goods, food delivery, ride-hailing services and other industries.
China’s trade with the Middle East surged to almost US$294 billion in 2019, according to China Custom Statistics, which covers data on the country’s imports and exports. A report released in January 2020 by the US-based Middle East Institute said that private Chinese companies, especially technology firms, have been increasing their presence in the MENA region with five of the top 10 e-commerce platforms coming from China. Growth has been fuelled by the burgeoning MENA e-commerce market.
The growing relationship between China and the Middle East is also driving new cross-border partnerships to help facilitate cashless payments between the two economies.
The collaboration between Telr, Aleta Planet and UnionPay gives Middle Eastern merchants access to billions of cardholders who are making payments with UnionPay cards and it also gives UnionPay Cardholders the ability to use their cards at the merchants in the Middle East.UnionPay is one of the most popular payment methods among Chinese consumers. Globally, the company has issued cards to users in 68 countries and regions.
Commenting on the partnership, Stephen Richards Evans, Aleta Planet’s Regional CEO for Europe, Middle East and Africa (EMEA), said: “We are excited to work with such an established payment gateway provider as Telr to facilitate cashless payments between Middle Eastern merchants and UnionPay cardholders. The huge growth potential of e-commerce transactions in the Middle East makes the move to provide a fast and secure online payment solution timely.”
Telr CEO Khalil Alami said: “We are thrilled to collaborate with Aleta Planet and UnionPay to make it easier for our growing pool of merchants in the region to accept over 9 billion UnionPay cards issued globally.
“With China becoming a major player in the Middle East, we recognise the importance of linking thousands of our merchants with digitally-savvy Chinese consumers and enabling a range of preferred payment methods and to enable the UnionPay Cardholders to use their cards at our merchant base.”
James Yang, General Manager of UnionPay International Middle East Branch, added: “We are delighted to support Aleta Planet and Telr in enrolling thousands of Telr’s merchants to accept payments through UnionPay. More than 20 million e-commerce merchants in 200 countries and regions, in addition to mainland China, have joined the UnionPay acceptance network.”
