Cross-border payment provider dLocal is adding an installment payment option for global e-commerce merchants serving customers in Brazil through a partnership with the fintech Dinie, which works with small merchants in Latin America.
The Dinie Paylater solution enables merchants to get paid up-front in full, while their customers pay in three- to nine-month installments.
The merchant has no credit risk exposure and the customers are not required to have a credit card or use
"Our goal is to bridge the payments innovation gap between developed countries and emerging economies, and Dinie shares that ambition with us," Rodrigo Sanchez Prandi, vice president of product at dLocal, said in a Tuesday press release. "Dinie is complementing dLocal's hyper local Brazilian payments solutions with capital accessibility to SMEs to pay for higher value business purchases and invest in their growth via improved technology and digital marketing.
Almost half (54%) of e-commerce spend in 2020 was made accessing an installment plan offered by merchants, according to dLocal data. With the addition of the Paylater option, online sellers can expect increased conversion rates because research indicates Brazilians prefer installment payments when purchasing products online, dLocal says.
Dinie Paylater will integrate with the dLocal payments platform, which helps streamline the merchant onboarding process. It allows dLocal to enable merchants to use Dinie Pay with no further integration.
When a purchase is confirmed at the merchant checkout page, the Dinie Paylater option is presented and customers can choose to split the payment up in as many as nine installments.
"Through one single integration to dLocal, Dinie will be able to connect to the world's largest digital merchants and access millions of small enterprise customers," Suzy Ferreira, CEO and founder of Dinie, said in the release. "Dinie will enable these customers to easily purchase online, make investments in technology and digital marketing while ensuring their cash flow isn't so heavily impacted because they have an opportunity to match their investment with the revenue they generate later."
Some of dLocal's customers include Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, Inditex, MailChimp, Spotify, Shopify, TripAdvisor, Uber and Wikimedia.
