SAN FRANCISCO--(BUSINESS WIRE)--dLocal, an award-winning fintech company that specializes in cross-border payments for emerging markets, today expanded its payments network to include Nigeria and South Africa.
Leveraging a proprietary and flexible API-based payments technology platform, dLocal now supports over 300 local payment methods in 17 emerging market countries, including the top five emerging markets in the world by population (Brazil, China, India, Indonesia, and Mexico).
Following dLocal’s recent expansion:
- Merchants that wish to sell in Nigeria will now be able to accept credit and debit card payments from Visa, Mastercard, and Verve, along with online bank transfers with Access Bank, Ecobank, United Bank For Africa PLC, First Bank, GTBank, Sterling Bank, Zenith Bank, PCMB, Polaris Bank, FSDH Merchant Bank Limited, Unity Bank, and Providus Bank. In addition, merchants will be able to offer QR codes at checkout to be scanned with the payer’s mobile banking app from Access Bank, Diamond Bank, PCMB, Fidelity Bank, First Bank, GTBank, SCB, and Zenith Bank.
- Merchants that wish to sell in South Africa will now be able to accept credit and debit card payments from Visa and Mastercard, along with online bank transfers with Absa, Investec, Standard Bank, Nedbank, Capitec, and FNB.
- dLocal clients that wish to grow revenue in Nigeria and South Africa will now have immediate access via the platform’s single API, with no need for any additional integration.
“Nigeria and South Africa each have their own unique commerce environment, so it’s critical for merchants looking to access these markets to take a localized approach to their payments strategies,” said Sebastian Kanovich, CEO of dLocal. “For example, according to our research South Africa is one of the most advanced countries on the continent when it comes to eCommerce and mCommerce. And While Nigeria is still cash dominant, the country’s cashless initiative is expected to drive growth for eCommerce and digital payments services in the near future. We are pleased to be able to offer access to these countries for our clients to take advantage of the incredible opportunity these markets present.”
The addition of Nigeria and South Africa expands the total market available to dLocal’s 450 clients to an estimated $170 billion. dLocal serves clients across a variety of primarily online-based business verticals, including e-commerce, SaaS, digital media, sharing economy & marketplaces, travel & tourism, and financial services companies.
dLocal (https://dlocal.com) is the only 360 payments platform designed to handle mass online payments in Latin America and other emerging markets across APAC, Middle East and Africa. With dLocal’s single API platform, there is no need to manage separate payin and payout processors, set-up numerous local entities, integrate dozens of isolated acquirers and payment methods, worry about stranded funds overseas, nor undergo heavy operational burdens. By operating as the merchant’s local payments processor in each market, dLocal makes it simple for online companies to reach 2.3 billion digitally-savvy consumers in today’s fastest-growing markets.
Over 450 global e-commerce retailers, SaaS companies, online travel providers, and marketplaces rely on dLocal to accept over 300 locally-relevant payment methods, as well as issue millions of payments to their contractors, agents, and sellers in growth markets around the world. Some of dLocal's customers include Avast, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, TripAdvisor, Uber, and Wikimedia. Visit dlocal.com for more information.