National Merchants Association, a bankcard leader and merchant advocacy group, and dLocal (https://dlocal.com/), the leader in delivering a payments platform for Latin America and emerging markets, today announced a partnership agreement to provide payments processing services throughout Latin America. The partnership coverage area includes Brazil, Mexico, Argentina, Colombia, Peru, Uruguay, and Chile.
“Our partnership with dLocal enables us to offer our merchants e-commerce payments processing in Latin America,” said Heather Petersen, CEO, National Merchants Association. “This is part of our ongoing strategy to empower our merchants to have global access building on our recent European expansion.”
With this agreement, NMA merchants now have access to local credit card processing and alternative payment methods, including cash, installments and bank transfers, enabling merchants to be able to access close to 90 percent of the Latin American consumer base.
“dLocal is focused on payments conversion and brings to the table extensive emerging market expertise, which enables us to help NMA e-commerce merchants reach more Latin American consumers, strengthening their reach in the region,” said Michelle Vautier, Chief Revenue Officer, dLocal.
There are two major forces driving the importance of processing e-commerce transactions in Latin America. First, cross-border card transactions only reach roughly 20 percent of the population as most credit cards are not enabled for international transactions. Second, the unbanked population in Latin America remains stubbornly high at 70 percent. Therefore, it is essential to offer alternative methods of payments, especially cash-based methods. This is part of dLocal’s key value proposition in the Latin America region.
The dLocal platform enables companies to transact locally across 14 markets — including Brazil, Mexico, much of Latin America, Turkey and China — without local entities and local operational complexities. E-commerce companies using dLocal can now offer customers across emerging markets the ability to pay for their goods or services in local and preferred payment methods such as cash, local credit cards and installments. With dLocal’s proprietary, custom-built technology, customer conversions can grow up to 40 percent by catering to consumers’ preferences.
dLocal is the only company to have built a cutting-edge payments platform from the ground up, specifically for Latin America and emerging markets. Once integrated, companies can accelerate time-to-market in all of the above-mentioned geographies, becoming operational within two weeks. It is a full-service platform that has a variety of features, including pay-ins, pay-outs and in country cash collections.