dLocal expands digital payment platform into Nigeria and South Africa
dLocal, a fintech company that specializes in cross-border payments for emerging markets, has 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.