American fintech firm dLocal has launched its API-based payments service in South Africa and Nigeria as part of its global expansion strategy.
Using dLocal’s API-based payments solution, merchants willing to sell their goods in Nigeria will now be able to accept credit and debit card payments from Mastercard, Visa, and Verve.
Additionally, the merchants will also be able to accept online bank transfers with a number of banks including Ecobank, United Bank For Africa, Access Bank, First Bank, Sterling Bank, and GTBank, among others.
The solution will also allow merchants to provide QR codes at checkout. The shoppers need to scan the QR code using their mobile banking app from PCMB, Fidelity Bank, Access Bank, Diamond Bank, First Bank, GTBank, SCB, and Zenith Bank to complete the payment.
The merchants using dLocal solution will be able to trade in South African market and accept debit and credit card payments from Mastercard and Visa.
They can also accept online bank transfers with Standard Bank, Absa, Investec, Nedbank, Capitec, and FNB.
dLocal CEO Sebastian Kanovich “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 localized approach to their payments strategies.”
dLocal supports over 300 local payment methods in 17 emerging countries. The total market available to dLocal’s 450 clients is estimated to worth $170bn with the expansion into Nigeria and South African market.