dLocal expands emerging markets payments platform in the Caribbean, LATAM

Thursday 8 October 2020 14:46 CET | News

dLocal has announced it has expanded its payments network to include three markets in LATAM and the Caribbean: Costa Rica, Panama, and the Dominican Republic.

According to the press release, leveraging a proprietary and flexible API-based payments technology platform, dLocal supports over 300 local payment methods in 23 emerging market countries, including the top five emerging markets in the world by population (Brazil, China, India, Indonesia, and Mexico). 

Merchants integrate just once to dLocal’s API to accept payment in any of the 23 countries where dLocal operates across LATAM, APAC, Middle East, and Africa and can do so without a physical presence. This expansion comes less than a month after dLocal secured USD 200 million in new funding to become one of LATAM’s best funded venture-backed companies. 

Furthermore, dLocal is using this funding to add more than 13 markets to its coverage in the next 18 months. Therefore, dLocal’s recent expansion includes the following payment methods:   

  • Credit Cards: Merchants that wish to sell in Costa Rica, Panama, and the Dominican Republic can now accept locally bank-issued credit cards branded from either Visa or Mastercard. According to research from dLocal, the three countries combined account for more than 2.7 million ecommerce shoppers making USD 6.5 billion in purchases in 2019.

  • Debit Cards: dLocal is also adding Tarjeta Clave in Panama. The local debit card is one of the main payment methods in the country, with more than 2 million cards in circulation.

  • Cash: Merchants that wish to add cash payments in Costa Rica can now accept Tucán Cash. Tucán is a banking platform from the Bank of Costa Rica allowing their consumers to make cash deposits at over 4,300 service points such as supermarkets and hardware stores across the country as a supplement to bank branches. Additional cash payment options in Panama and the Dominican Republic will be shortly added to dLocal's offering in those countries. 

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Keywords: dLocal, LATAM, the Caribbean, Costa Rica, Panama, the Dominican Republic, payment methods, credit cards, merchants, Visa, MasterCard, ecommerce, Tucán Cash, emerging markets
Categories: Payments & Commerce
Countries: Caribbean, Latin America
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Payments & Commerce

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