Fintech firm dLocal has introduced its API-based payments platform in Nigeria and South Africa, expanding its footprint in emerging markets.
dLocal payments platform currently supports more than 300 local payment methods in 17 emerging markets, including Brazil and China.
With the latest launch, merchants who want to do business in Nigeria can accept Visa, Mastercard and Verve debit and credit card payments.
Merchants will also be able to accept online bank transfers with multiple banks. Additionally, they can provide QR codes at checkout, which can be scanned with mobile apps of select banks.
In South Africa, merchants can accept debit and credit card payments from Visa and Mastercard. However, online bank transfers in the country will be limited to Absa, Investec, Standard Bank, Nedbank, Capitec and FNB.
dLocal CEO Sebastian Kanovich said: “Nigeria and South Africa each have their own unique commerce environment, so it’s critical for merchants looking to access these markets to take a localised approach to their payments strategies.
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“We are pleased to be able to offer access to these countries for our clients to take advantage of the incredible opportunity these markets present.”
This expansion will provide dLocal’s 450 clients with access to an estimated $170bn market.
The company’s platform is meant for mass online payments in Latin America and other APAC, Middle East and Africa markets.
In July this year, dLocal launched its payment services in Indonesia, Ecuador and Bolivia.