dLocal, a state-of-the-art payment platform enabling merchants of global businesses to connect with billions of consumers in emerging markets, announced operations in three new countries in Southeast Asia, including the Malaysia, the Philippines and Vietnam.
These countries, along with the region’s other two largest economies, Indonesia and Singapore, have seen significant growth in e-commerce due to their expanded digital footprint in the wake of the pandemic. According to a 2020 e-economy report, e-commerce volumes in Southeast Asia reached more than $ 62 billion in 2020 alone, an increase of 63% from the previous year. which has amplified the region’s impact on the global e-commerce market beyond the region’s borders.
dLocal will now provide payment capabilities for e-wallets, cash and international card payments, as well as chargebacks and refunds. The extension includes the following integrations with the dLocal 360 Â° payment platform:
- Malaysia: dLocal enabled merchants selling in Malaysia to accept payments from electronic wallets such as Maybank2u, boost, get the paycheck, and Touch ‘n Go, in addition to bank transfers and cash payments via 7 eleven.
- Philippines: Merchants serving customers in the Philippines can now accept international cards such as Vis a and MasterCard, as well as card payments up to 12 installments and sales without CVV.
- Vietnam: Merchants who sell in Vietnam can accept international cards such as Visa, MasterCard, and UCB, as well as local credit cards and wallets such as VTC Pay, Vietcombank, Techcombank, and more.
dLocal will also add cash payments as well as local bank transfers in Thailand.
“For merchants looking to take advantage of the explosive growth of e-commerce in Southeast Asia, the shift to digital markets that catalyzed during the pandemic presents a huge opportunity,” said Sue-Ann Seet, Responsible for the expansion in Asia at dLocal. âThe biggest challenge is the disparate payment methods that are not easily adapted to these different markets. DLocal’s payment platform will now allow merchants to support preferred payment methods in each of these countries to enable localized payments for sustainable and scalable growth.
Following its historic investment cycle announced in September 2020, dLocal significantly expanded its presence in 11 countries, exceeding the company’s stated goal of adding 13 countries of coverage within 18 months of obtaining the new capital.