Amazon and dLocal, a fintech company focused on cross-border payments, have partnered to enable localised payments in Chile.
Payment infrastructure in emerging countries such as Chile, LATAM, MENA or APAC is complicated. In these markets, companies that lack an ability to accept local payment methods are said to hinder their own reach and growth.
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dLocal’s solution is intended to provide companies with a better edge in the markets as the company has been developing expertise in those countries. Its payments platform supports more than 300 local payment approaches under a single API.
dLocal CEO Sebastian Kanovich said: “Amazon has a long history of pioneering online innovation and bringing e-commerce to the rest of the world. We are honoured to enable Amazon customers in Chile to shop on Amazon.com with international and domestic credit cards, including interest-free instalments and Amazon Prime Video subscriptions in Chilean Pesos.”
Commenting on its platform, the company added: “The platform bridges the gap between the needs of global, online enterprises and payments realities in emerging countries. dLocal operates as the local merchant of record on behalf of its clients, speeding time-to-market and minimising operational costs.”
Additional services offered by dLocal include automated currency conversion, fund repatriation for settlement in the US or Europe and local payments optimisation, among others.
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By GlobalDataLast month, dLocal launched its API-based payments platform in Nigeria and South Africa, allowing merchants to accept card payments and online bank transfers.
