Merchants looking to take advantage of the significant e-commerce opportunity in the region can now provide local payment methods in Malaysia, the Philippines, and Vietnam
SAN FRANCISCO–(BUSINESS WIRE)–dLocal, a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, today 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 eCommerce growth due to their expanded digital footprint in the wake of the pandemic. According to a 2020 E-Conomy Report, eCommerce 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 eCommerce in Southeast Asia, the shift towards digitized marketplaces that has catalyzed during the pandemic presents 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.
For more details on dLocal’s localized country guides and available payment methods in the Asia region, visit dLocal’s website.
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers in 29 countries across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract) global companies can accept payments, send payouts and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. dLocal is backed by General Atlantic as one of its early investors.
More than 300 global merchants, including e-commerce retailers, SaaS companies, online travel providers, and marketplaces rely on dLocal to accept over 600 local 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 Amazon, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, Microsoft, Spotify, TripAdvisor, Uber, Wikimedia, and Zara. Visit dlocal.com for more information.