According to the press release, with the expansion of alternative payment methods, Spotify will increase accessibility in the LATAM market, where 63% of the population is unbanked and more than 90% do not have a credit card.
Therefore, during the collaboration, dLocal will offer alternatives that facilitate access and improve the payment experience of Spotify Premium. By leveraging dLocal's 360 payment platform, Spotify reduces friction from the checkout experience through online bank transfers and cash payments through online codes (vouchers), allowing users, regardless of their banking level, to enjoy all the benefits of Spotify Premium.
Furthermore, Spotify Premium users wishing to pay in cash for their individual plan can do so through Rapipago or Pagofacil points in Argentina, Servipag in Chile, Baloto or Efecty points in Colombia, OxxoPay in Mexico, and Pago Efectivo in Peru.
Additionally, users who do not want to commit to a Spotify Premium subscription have the option to choose the prepaid payment method, where they can pay for 1, 3, 6, or 12 month plans with cash or bank transfer. Spotify has also enabled bank transfer with WebPay in Chile and PSE in Colombia through dLocal’s Payins solution.
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