Cross-border payment fintech dLocal is partnering with Canadian e-commerce company Shopify to enable small businesses to offer local payment methods in more than 19 currencies in emerging markets.
Shopify develops computer software for online stores and retail point-of-sale systems.
The partnership allows international e-commerce merchants the ability to accept local payment methods in emerging markets through San Francisco-based dLocal’s payment processing network.
dLocal's integration with Shopify also enables merchants to bypass the time generally spent in setting up a payment gateway in addition to gaining real-time syncing and business management capabilities.
"Having the ability to accept local payments will open e-commerce SMB merchants up to new business and help them deliver a positive customer experience online without unnecessary payment processing lag,” Rodrigo Sánchez Prandi, vice president of product at dLocal, said in a Tuesday press release. “We are pleased to be able to offer localized payments to better meet the needs of the people who live in emerging markets and the businesses looking to grow and expand in these areas.”
Shopify customers can start accepting local payments methods in local currency in Argentina, Bangladesh, Brazil, Bolivia, Chile, China, Colombia, Ecuador, Egypt, India, Indonesia, Mexico, Morocco, Nigeria, Paraguay, Peru, South Africa, Turkey and Uruguay.
The Shopify ecosystem consists of more than one million businesses in more than 175 countries. The company "has empowered independent business owners to achieve economic prosperity, and we look forward to helping those businesses further expand their reach into high-growth markets,” Prandi added.
More than 450 global e-commerce retailers, SaaS companies, online travel providers and marketplaces work through dLocal to accept more than 300 locally relevant payment methods, as well as issue millions of payments to their contractors, agents and sellers in growth markets around the world.
Some of dLocal's customers include Avast, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, TripAdvisor, Uber and Wikimedia.
