dLocal Adds WeChat Pay, AliPay and Union Pay To Portfolio of Emerging Market Payments
SAN FRANCISCO, June 26, 2017/PRNewswire/ - dLocal, afintech company specializing in cross-border payments for emerging markets, announced today that it has integrated WeChat Pay, AliPay, and UnionPay —China’sthree major digital payments payment providers — into its award-winning platform. These three providers collectively capture over 70 percent of the Chinese market, which translated into 2.9 trillion USD in online payments in 2016. With this addition, dLocal will enable global merchants to reach 300 million Chinese consumers.
Cross-border ecommerce in Chinareached nearly $40 billion in 2015, and is growing more than 50 percent annually. As the Chinese economy has blossomed and consumers have enjoyed greater internet access in recent years, ecommerce purchases have exploded in the region. Lower prices, higher quality items and disposable incomes are among several factors contributing to the rise in online cross-border purchases, creating a huge opportunity for ecommerce and marketplace businesses.
“China is the global Mecca for ecommerce, and we’re unlocking the doors for cross-border purchases in this market by bringing all the pertinent payment options into one solution,” said Sebastian Kanovich, CEO of dLocal. “Online shopping is expected to hit 1 trillion in China by 2020 on mobile alone, and we’re preparing for this explosion in ecommerce by ensuring that our client merchants are equipped to handle the volume of transactions with the array of payment methods that’s aligned with consumer expectations.”
dLocal’s 360 payments platform already supports over 200 local payment methods used in emerging markets in APAC,Latin America,Eastern Europeand theMiddle East, including local credit cards, cash payments, and bank transfers. Merchants that already accept payments through dLocal can easily enable WeChat Pay, AliPay, and Union Pay with just one click. The announcement follows recent momentum for dLocal, including new customer wins, the addition of payouts to its payments platform, partnerships with other major payment providers and expansions into several markets, includingTurkeyandLatin America.
