dLocal is the 2020 Best Alternative Payment Solution | Customer Choice

Best Alternative Payment Solution

dLocal-logo-2020One of eight companies that are first-time winners of CNP Awards, we welcome dLocal to the fraternity. The company is four years old and based in Montevideo, Uruguay. It opens international markets to companies around the world by facilitating payments in emerging markets in Latin America, Asia Pacific, the Middle East, and Africa.

dLocal enables merchants to accept and payments in emerging markets via local payment methods that consumers in many of those markets prefer over credit cards from financial institutions in the U.S. and other developed markets.

The company provides merchants the local presence it needs in many geographies to accept cross-border or local payments—a time-consuming process if they want to establish that presence themselves. In the case of the growing gig economy, it enables them to make payments as well.

“The challenge for merchants expanding to Emerging Markets starts with the fact that up to 70 percent of those living in the region don’t have international credit cards, which complicates the process of purchasing goods and services through e-commerce,” the company said. “The challenge is even greater when it comes to ride-hailing platforms or other gig-economy services in which riders and drivers may not have a local credit card or bank account, or simply prefer cash transactions.”

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