E-commerce cross-border payments provider dLocal has updated its platform in India, enabling global e-merchants to accept and remit payments through all local methods and target the mobile consumer in the country.
India has been engaged in an accelerated effort toward digital payments through national mandates and bank promotions to limit the use of cash.
San Francisco-based dLocal provides "Marketplace Payments" software capable of handling 200 local payment methods to support India's overall advancements in e-commerce through smartphones. In opening an office in New Delhi, dLocal says it will help merchants sell their online products to hundreds of millions consumers, contractors and freelancers in India.
“India presents incredible market opportunities for online merchants and marketplaces,” Sebastián Kanovich, CEO of dLocal, said in an Aug. 24 press release. “With dLocal, they don’t need to operate a local entity in India nor navigate India’s fragmented and complex payment ecosystem."
Instead, e-commerce merchants can focus on marketing and merchandising products, and allowing dLocal to "tackle the rest as their payments processor and merchant of record simplifying their entry into the world’s fastest-growing, emerging market,” Kanovich added.
dLocal says it has already equipped more than 450 global retailers with Marketplace Payments, which handles payments in India as well as dispersing mass payouts to local contractors and freelancers, by enabling global e-merchants and marketplaces to transfer funds into their Indian freelancers’ local bank accounts.
dLocal says the mobile-first payments platform is PCI compliant and includes in-house risk chargeback management, smart routing tools that include BIN-level logic.