To let international merchants provide the option of installment payments to their clients in Brazil, cross-border payment firm dLocal is collaborating with FinTech services company Dinie, according to a Tuesday (Jan. 19) announcement.
The collaboration between the two companies will provide more payment choices and purchasing power for small- to medium-sized businesses (SMBs) at checkout, which ends up bolstering the basket sizes and conversion rate for merchants, the announcement stated.
Dinie CEO and Founder Suzy Ferreira said in the announcement that Dinie will have the capacity to link to the globe’s biggest online merchants and access millions of SMB clients via a connection to dLocal.
“Dinie will enable these customers to easily purchase online, make investments in technology and digital marketing, whilst ensuring their cash flow isn’t so heavily impacted since they have an opportunity to match their investment with the revenue they generate later,” Ferreira said in the announcement.
Dinie Pay, the Dinie pay later offering, lets merchants receive complete payment up front, and clients provide payment through installments, according to the announcement. The payment method is shown after a purchase is confirmed at a merchant’s checkout, and SMB clients can opt to divide the bill into as many as nine monthly payments. SMB clients don’t need to possess a credit card or make a payment harnessing Boleto (a payment method in Brazil), and the merchant doesn’t face credit risk exposure.
“Dinie is complementing dLocal’s hyper local Brazilian payments solutions with capital accessibility to [SMBs] to pay for higher value business purchases and invest in their growth via improved technology and digital marketing,” dLocal Vice President of Product Rodrigo Sanchez Prandi said in the announcement.
More than 450 international online retailers, digital travel providers, Software-as-a-Service (SaaS) firms and marketplaces depend on dLocal to take more than 300 “locally-relevant payment methods” and issue payments, according to the announcement.
The news comes as dLocal has expanded its payment network to include Costa Rica, the Dominican Republic and Panama to help merchants take and send out local payments, PYMNTS reported.