Cross-border payment platform dLocal has partnered with technology giant Microsoft to offer localised payment methods to customers in emerging markets.
The availability of the localized payment solutions wil be done in a phased manner, starting from Nigeria.
As part of the alliance, the tech firm will enable local acquiring for credit and debit cards in the country.
The tech firm will leverage dLocal’s Payins solution to add more local payment methods in the coming months and expand reach to other emerging markets.
As of now, the Payins solution is available across various African markets including Cameroon, Egypt, Ghana, Kenya, Morocco, Senegal, and South Africa, in addition to Nigeria.
Overall, the solution is available in 26 markets including Argentina, Brazil, iexico, Panama, Peru, Uruguay, China, India, and Turkey, among others.
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dLocal VP of sales Meirav Adi said: “Nigeria’s cashless initiative is driving growth for e-commerce and digital payments services, and domestic credit cards are a large part of the market,”
“Authorisation rates are an important factor in improving sales volume in e-commerce and providing a positive experience for customers.
“We are pleased to partner with Microsoft and provide them with the ability to accept payments that are widely used in these target markets to help fuel their continued growth in the region, and beyond.”
Shoppers on Nigeria’s Microsoft Store website can use local Visa and Mastercard credit cards to make payments for different products like Microsoft 365 Consumer and Family subscriptions, which was earlier possible only with international credit cards.
The use of local cards will help shoppers get rid of high exchange fees and higher rates of declined transactions arising from the volatility in exchange rates volatility, thereby improving authorisation rates.
Earlier this year, Amazon and dLocal collaborated to enable localised payments in Chile.