SBI-backed CashFree acquires majority stake in UAE-based payments firm, Telr
Summary
Besides, the company is also in talks with various fintech firms for acquisition purposes, Akash Sinha, co-founder and CEO of CashFree told BusinessToday.In in an exclusive interaction . In addition, Cashfree and Telr aim to develop a unified cross-border payments platform that would help Indian merchants accept payments from customers in the MENA region and vice-versa, via a single integration, the company said in an official handout. Through a single integration, Telr grants access to every payment method including Visa, Mastercard, American Express, UnionPay, Apple Pay, PayPal, SADAD, Mada and STCPay. With respect to its core India market, Sinha said that although the fintech space in India has witnessed strong competition in several years, the product suite offered by CashFree including payment collection, lending, payouts etc has enabled it to onboard over 1.3 lakh merchants. Also read: Credit card payment startup, slice, is India’s 41st unicorn this year