dLocal adds partners to expand services in Africa
Cross-border payments provider dLocal has expanded its network services in Africa and developed new partnerships in Nigeria and Egypt.
Continuing its focus on connecting global merchants to emerging markets, San Francisco-based dLocal is now supporting local card and mobile payments in Kenya, Senegal, Ghana and Cameroon. The company says the expansion doubles its footprint in Africa.
The company landed integration partnerships with Verve payment cards in Nigeria and Fawry cash locations in Egypt.
"Africa is a tremendous untapped e-commerce opportunity," Adebiyi Aromolaran, head of expansion in Africa for dLocal, said in a Wednesday press release. "The number of internet users is significant, starting 2020 with 453 million users, and the region has huge potential for growth with an under 40% penetration rate."
Enabling merchants to accept payments from mobile money platforms like mPesa, Orange and Tigo in sub-Saharan Africa is a key benefit in the market, Aromolaran added.
The platforms have grown in popularity across the continent and "should be accepted by companies looking to scale their businesses in this region," Aromolaran said. "We’re excited to expand our network to include these four countries and solve the payments part of the growth equation for our clients.”
Merchants using dLocal will also be able to execute local payments and deposit local currency directly to mobile money and local bank accounts in all supported African countries.
The integration with Verve in Nigeria enables dLocal to support the 47 million locally issued Verve cards and tokens through its payment platform. The Verve cards are accepted in 21 African countries.
In Egypt, dLocal's integration with Fawry allows more than 166,500 cash payment locations to be added to the network. Egyptian e-commerce heavily relies on cash payments, accounting for about 65% of the country's total online transactions, dLocal said.
The expansion in Africa comes shortly after dLocal added Costa Rica, the Dominican Republic and Panama to its Latin America and Caribbean portfolio.