dLocal, a leading cross-border payment platform connecting global merchants to emerging markets, today announced that it has teamed up with Microsoft to reach new customers in emerging markets with localized payment methods. In the first phase of the collaboration, Microsoft launched local acquiring for both credit and debit cards in Nigeria. In the coming months, Microsoft will use dLocal’s Payins solution to add additional popular local payment methods, as well as expanding to include other emerging markets, globally.
Through the agreement, shoppers on the Microsoft Store website in Nigeria will be able to pay with local credit cards for a variety of products, such as Microsoft 365 Consumer and Family subscriptions. With global gaming worldwide on the rise during the COVID-19 pandemic, the need to create a more inclusive purchasing experience was a key driver for Microsoft to expand its payment options for customers in Nigeria, and beyond, to satisfy the demand.
Previously, customers could only pay with international credit cards, triggering steep exchange fees and higher rates of declined transactions due to exchange rate volatility. By working with dLocal to offer locally issued Visa and Mastercard card payments, Microsoft will be able to operate in Nigeria with significantly improved authorization rates.
“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,” said Meirav Adi, VP Sales of dLocal. “Authorization 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.”
From a user perspective, Microsoft will not be making any changes to the current payment experience due to the integration, and current subscriptions will continue to function as usual.
Local card acquiring is part of dLocal’s Payins solution that allows merchants to collect payments from their customers in emerging markets in their respective local currency. The major benefit for the merchant is the access to a variety of local payment methods as well as the possibility to receive funds in USD, EU or any other currency within the countries dLocal operates in, without having to establish its own local entity. dLocal clients deploying the payins solution see an average increase of 20% in conversion rate.
dLocal’s Payins solution is already available in 26 markets:
- Latin America: Argentina, Brazil, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Mexico, Panama, Paraguay, Peru, Uruguay
- Africa: Cameroon, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa
- Asia: Bangladesh, China, India, Indonesia, Turkey.
For additional information on dLocal’s Payins solution read here.
dLocal (https://dlocal.com) is the only 360 payments platform designed to handle mass online payments in Latin America and other emerging countries across APAC, Middle East and Africa. With dLocal’s single API platform, there is no need to manage separate payin and payout processors, set-up numerous local entities, integrate dozens of isolated acquirers and payment methods, worry about stranded funds overseas, nor undergo heavy operational burdens. By operating as the merchant’s local payments processor in each country, dLocal makes it simple for online companies to reach 2.3 billion digitally-savvy consumers in today’s fastest-growing markets.
Over 450 global e-commerce retailers, SaaS companies, online travel providers, and marketplaces rely on dLocal to accept over 300 locally-relevant payment methods, as well as issue millions of payments to their contractors, agents, and sellers in growth markets around the world. Some of dLocal’s customers include Avast, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, TripAdvisor, Uber, and Wikimedia. Visit dlocal.com for more information.