Dlocal; An Asia-Pacific payment service company recently announced expansion into three of the region’s fast-growing countries.
According to an announcement in a press release, Dlocal, a payments company operating in the RippleNet ecosystem, will now support merchants in Malaysia, the Philippines and Vietnam.
In Malaysia, the company already enables exporters to accept payments via eWallets such as Touch ‘n Go, Boost, Grab Pay and a Maybank2u.
While in the Philippines the Dlocal enables merchants who serve the locals to accept international plastic products like Visa and Mastercard. In addition, the merchants could also accept “card payments in up to 12 installments and sales without CVV (Card Verification Value)”.
Like the Philiphine merchants, the Dlocal also equips foreign merchants in Vietnam to accept international cards along with a local credit card and e-wallets such as Techcankank, VTC Pay, Vietcombank and more.
In addition, it is noteworthy that after the devastating pandemic, the e-commerce business has flourished in the countries where the company is gaining a foothold.
The region is home to two of the largest e-commerce markets in the world and the only giants in Southeast Asia, according to the 2020 E-Conomy Report. Indonesia and Singapore recorded significant growth. In 2020 alone, the volume of the e-commerce market in the region rose to $ 62 billion. an increase of 62% compared to the previous year.
“For merchants looking to capitalize on the explosive growth of e-commerce in Southeast Asia, the shift to digitized marketplaces catalyzed during the pandemic presents a tremendous opportunity.” Sue-Ann Seet, Head of Asia Expansion at dLocal.
Following a landmark investment announced last September due to unexpected growth, the company has successfully infiltrated 11 countries to date.