dLocal, a fintech company specializing in facilitating cross-border payments for global e-commerce merchants in emerging markets, announced on Thursday the launch of its payments platform in India.
The company stated its newly-opened local office in New Delhi enables global e-merchants to accept and remit payments to India using all the locally-relevant payment methods thus reaching hundreds of millions of connected consumers, contractors and freelancers who are accelerating the digital transformation within the country.
“An e-commerce boom is spreading across India as a new generation of smartphone-armed, digital-savvy shoppers browse the globe for merchants who can deliver purchases to their front door and provide premium content to their devices. dLocal’s platform for India was developed to reduce numerous payment-related barriers between global merchants and local consumers who use the Internet to buy anything from physical goods to SaaS products to local advertising. To ensure the widest reach for its merchant customers, dLocal supports all the locally-relevant payment methods in India, including locally issued credit cards, debit cards and bank transfers. The platform also supports unified payments interface (UPI), the latest initiative by India’s Central Bank geared at boosting e-commerce and enabling instant bank payments.”
dLocal also revealed that in addition to seamlessly handling pay-ins in India, it is also removing the many barriers associated with dispersing mass payouts to local contractors and freelancers, by enabling global e-merchants and marketplaces to easily transfer funds into their Indian freelancers’ local bank accounts with the same ease as they already do this in the US. Sebastián Kanovich, CEO of dLocal, revealed:
“India presents incredible market opportunities for online merchants and marketplaces. With dLocal, they don’t need to operate a local entity in India nor navigate India’s fragmented and complex payment ecosystem. Instead, they can focus on marketing and merchandizing of their products, and dLocal will tackle the rest as their payments processor and merchant of record simplifying their entry into the world’s fastest-growing, emerging market.”
dLocal added its platform allows merchants to accommodate the local payment preferences of individuals and SMBs, alleviates tax burdens and payments settlement and reduces the risks of currency exchange fluctuations. Key features include:
- Local processing for pay-ins and payouts in 18 emerging markets.
- 1 API integration for all markets and over 200 local payment methods including credit cards, debit cards, installments, bank transfers, direct debit, and cash payments.
- Ensures the broadest reach and highest acceptance rate by processing all the locally-relevant payment methods in each country where dLocal operates.
- Worry-free funds repatriation to the US or Europe.
- A mobile-first payments platform that is PCI DSS Level 1 Compliant.
- In-house risk chargeback management, smart routing tools, retry, and BIN-level logic.