dLocal, a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, has announced operations in three new countries in Southeast Asia, including Malaysia, the Philippines, and Vietnam.
These countries, along with the region’s other two largest economies, Indonesia and Singapore, have seen significant e-commerce growth due to their expanded digital footprint in the wake of the pandemic. According to a 2020 E-Conomy Report, e-commerce volumes in Southeast Asia reached more than $62 billion in 2020 alone – a 63% increase from the previous year – which has amplified the region’s impact on the global eCommerce market beyond the region’s borders.
dLocal will now provide payment capabilities for eWallets, cash and international card payments, as well as chargebacks and refunds. The expansion includes the following integrations to the dLocal 360° payment platform:Malaysia: dLocal has enabled merchants selling into Malaysia to accept payments from eWallets such as Maybank2u, Boost, Grab Pay, and Touch ‘n Go, in addition to bank transfers and cash payments via 7-Eleven. Philippines: Merchants serving customers in the Philippines can now accept international cards such as Visa and MasterCard, as well as card payments in up to 12 installments and sales without a CVV. Vietnam: Merchants selling into Vietnam can accept international cards such as Visa, MasterCard and UCB, as well as local credit cards and wallets such as VTC Pay, Vietcombank, Techcombank, and more.
dLocal will be also adding cash payments as well as local bank transfers in Thailand.
“For merchants looking to take advantage of the explosive growth of e-commerce in Southeast Asia, the shift towards digitized marketplaces that has catalysed during the pandemic presents an enormous opportunity,” said Sue-Ann Seet, Head of Asia Expansion at dLocal. “The biggest challenge is disparate payment methods that are not easily scaled across these various markets. dLocal’s payments platform will now allow merchants to support the preferred payment methods in each of these countries to empower localized payments for sustainable, scalable growth.”
Following its landmark investment round announced in September 2020, dLocal has aggressively grown its footprint in 11 countries, outpacing the company’s stated goal to add 13 countries of coverage within 18 months of securing the new capital.
The post dLocal Announces Southeast Asian Expansion Bringing Local Payment Methods to the Region appeared first on The Fintech Times.