dLocal targets emerging markets with 'one-click' marketplace payments
Cross-border payments provider dLocal is offering a payments product that allows marketplace providers with buyers or sellers in emerging markets to accept local payment methods with one click.
Marketplace Payments, a plug-and-play software to add to marketplace payments suites, allows sellers to add dLocal's more than 200 local payment methods. The local payments are included in the e-commerce checkout process, allowing merchants to immediately sell products online to local customers.
The new product is separate from Uruguay-based dLocal's payments gateway developed late last year targeting e-commerce expansion through a single gateway for merchants seeking a presence in emerging markets.
"Marketplace Payments is designed specifically for companies that have multitudes of sellers on their marketplace platform," CEO Sebastian Kanovich said. "Depending on the seller's comfort level with international expansion, they can launch in one new market at a time, or immediately in all markets where dLocal operates."
The sellers are essentially getting the same "enterprise-class payment platform" that dLocal's enterprise customers are using to operate in emerging markets, Kanovich added.
Those clients include Uber, Endurance and Wikimedia, which uses dLocal to help it raise funds for it operation. The difference for those using the new Marketplace Payments is being able to do so without the lengthy contracts, web integration and on-boarding procedures that enterprises go through, Kanovich said.
Marketplace Payments supports all country-specific payment methods, including local credit and debit cards, bank transfers and cash payments. The application interface-based solution covers payments in Argentina, Brazil, Chile, Colombia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Mexico, Peru, Poland, Slovakia, Slovenia, Turkey and Uruguay.
dLocal operates as the payment processor and merchant of record for the e-commerce marketplaces it supports in Latin America.
DealeXtreme and Light In The Box, both based in China, are the first two marketplace companies to add dLocal's Marketplace Payments to their payments offerings in Latin America.
dLocal has added offices in San Francisco and Tel Aviv to go along with those already in place in Uruguay, London and Malta.