Telr has expanded payment methods for UAE merchants with JCB. The partnership means that Telr merchants in the UAE can accept JCB Cards for e-commerce transactions. Telr says that this continues its efforts to provide merchants with the latest technologies and the best payment methods available in the market via its proprietary full-stack technology.

The tie-up also enhances its merchants’ competitive position amongst other merchants in the local and international markets.

Telr, JCB partnership boosts UAE cash displacement drive

The partnership supports UAE’s drive to displace cash by boosting digital payments. JCB cardholders exceed 150 million customers with its cards accepted at about 41 million merchants.

According to Telr, its platform handles payments in over 120 currencies and 30 languages with the highest level of security. Telr merchants include small and medium-sized enterprises and start-ups operating in government, education, consumer goods, food delivery, ride-hailing services, and other industries.

Telr’s services include a complete solution for the e-commerce world. This covers social commerce, QR Codes, digital invoicing, Telr BNPL in collaboration with Tabby, Telr Finance in collaboration with LNNDO and a merchant financing programme. It also offers Telr Shops, an easy-to-use tool for creating an online store in minutes.

Telr’s CEO, Khalil Alami said: “We are very pleased to announce this partnership with JCB. At Telr our focus has always been biased toward helping our merchants make use of global opportunities. This partnership with JCB should open new doors for our merchants to tap into millions of consumers across the globe. We are delighted to join efforts with JCB as a key payment scheme in Asia with growing popularity outside of Asia.”

Yuichiro Kadowaki, director and CEO, JCB Middle East LLC, added: “We are very happy to partner with Telr. It is one of the leading e-commerce payment service providers in the UAE and the wider region. The enablement of JCB acceptance will allow our cardholder’s to conveniently transact in a safe, secure manner at Telr merchants.”

UAE market sizing and forecasting: GlobalData

The payments landscape in the UAE is dominated by cash, which accounted for 65% of overall payment transaction volume in 2022. This is however a sharp reduction from 80.4%, as recently as 2018.

The payment card market can be characterised as rapidly growing and innovative. Card penetration in the country stood at 1.9 cards per individual in 2022, according to GlobalData, publishers of EPI. Payment card usage has grown steadily, recording CAGRs of 19.4% and 16.2% over 2018–22 in terms of card payment volume and value.

This has been driven by financial inclusion and promotional strategies undertaken by banks and the central bank. These measures include the introduction of low-cost bank accounts exclusively for low-income groups, the Cashless Dubai Working Group initiative, and developing and expanding the country’s payment acceptance infrastructure. Meanwhile, the rising preference for ecommerce purchases, the gradual adoption of contactless cards, and a rise in merchant acceptance of electronic payments will further boost the payment card market.

Credit cards account for 26.1%of cards in circulation in the UAE in 2022. Despite much lower penetration than debit cards, credit cards are the preferred option for card payments in the UAE. They accounted for 86.3% of total card payment transaction value in 2022. This can be attributed to value-added benefits such as reward points, discounts, and cashback.