Lightspeed strikes a new alliance with dLocal to power payments for Mexican SMBs
By Pavithra R
Uruguay based FinTech company dLocal, providing cross-border payments platform connecting global merchants with emerging markets, has announced entering into a new partnership with Lightspeed, a leading provider of cloud-based, omnichannel commerce platforms.
Under the partnership, Lightspeed merchants will be able to accept local payment options across LATAM as the small business market in that region undergoes a rapid digital transformation. With the ability to offer various payment methods, Lightspeed merchants can expect a revenue injection from new customers with increased access to their merchandise.
“Local payment methods are able to reach a broader audience in countries like Mexico, where over a third of the population prefers alternatives to credit cards when paying for online goods and services. At dLocal, we know local payment preferences and habits in emerging markets. We’re proud to partner with Lightspeed on this solution as they continue their mission to simplify business for SMBs,” said Rodrigo Sanchez Prandi, Senior Vice President of Product at dLocal.
The direct integration, which is now live in Mexico, enables Lightspeed eCommerce merchants to start accepting local payment methods in Mexican pesos effortlessly. This industry-specific solution will allow merchants to facilitate direct bank-to-bank transfers through Mexico’s SPEI system, accept local credit and debit cards such as American Express, Visa, Mastercard,or Mexico’s Carnet Debit and accept cash through digital voucher payments such as Oxxo.
“We believe commerce belongs to everyone. dLocal offers one of the most exhaustive alternative payment platforms currently available, which allows Lightspeed merchants to easily accept the payment methods their customers are looking for, eliminating friction during checkout and increasing conversion rates. This opens up a broad range of new customers to now pay for their purchases directly on the merchant’s website, furthering Lightspeed’s mission to become the most advanced commerce platform for high-performing businesses throughout the world,” said Peter Dougherty, Vice President of Partnerships at Lightspeed.
Founded in 2016, dlocal is a 360 payments technology platform designed to handle mass online payments in emerging markets. It helps in eliminating cross-border payment complexities and minimizing operational costs.
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