dLocal Launches Direct Issuing, White-Labeled Prepaid Cards, in Emerging Markets

Rhea-AI Summary

dLocal has launched its new Direct Issuing service, enabling merchants to issue branded prepaid cards for online and in-store shopping in local currencies. Vita Wallet, a Chilean fintech, is one of the first to adopt this service, enhancing customer experience for over 25,000 users. The cards facilitate faster and cheaper transactions compared to traditional banks. This solution is part of dLocal's comprehensive integration platform, allowing seamless fund management and payment approvals.

Positive

• Launch of Direct Issuing service enhances merchant capabilities to offer branded prepaid cards.
• Partnership with Vita Wallet expands dLocal's reach to over 25,000 users, facilitating quicker and cheaper transactions.

Negative

• None.

Vita Wallet adopts dLocal’s latest offering to issue branded virtual and physical prepaid cards to its twenty-five thousand plus users

MONTEVIDEO, Uruguay--(BUSINESS WIRE)-- dLocal (NASDAQ:DLO), a technology-first payments platform enabling global enterprise merchants to connect with billions of consumers in emerging markets, announces the launch of dLocal’s Direct Issuing, a service enabling merchants to issue their own branded prepaid cards for online and in-store shopping in local currencies.

Chilean fintech, Vita Wallet, is among the first to embrace the latest dLocal product. “Our Vita Card product aims to give our clients the best possible customer experience. With our cards - issued in partnership with dLocal - people will be able to shop, pay their bills, cash out, or even make and receive international payments much faster and cheaper than they would through banks,” says Moisés Zambrano, CBO, and Founder of Vita Wallet.

Vita Wallet can instantly credit funds in local currencies, re-issue prepaid cards when expired, or block them when lost or stolen. Users can access their funds straight away. “Direct Issuing is part of our One dLocal integration. Through one API, one platform, and one contract, you can easily manage your users’ cards, send funds and approve payments with no extra hassle,” says Rodrigo Sanchez Prandi, SVP of Product, at dLocal.

dLocal’s Direct Issuing is a flexible option to make pay-outs. Companies with a supply-side user base, such as drivers and homeowners, or gig economy businesses, can issue revenue share payments in the form of prepaid cards. Funds can then be spent for services, products, groceries, gas, ATM withdrawals, utility bills, and more, without the need for a bank account.

dLocal’s Direct Issuing solution can also be used by merchants to build cash-reward loyalty solutions and cash-back incentive programs.

Find additional information on dLocal’s newest product here https://dlocal.com/our-solution/issuing-cards/.

About dLocal
dLocal powers local payments in emerging markets, connecting global enterprise merchants with billions of emerging market consumers across APAC, the Middle East, Latin America, and Africa. Through the “One dLocal” concept (one direct API, one platform, and one contract), global companies can accept payments, send pay-outs and settle funds globally without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. Learn more at https://dlocal.com.

About Vita Wallet
Vita Wallet is a Fintech company that offers digital international money transfers in a cheap, simple, and seamless way for people and businesses from Chile (and Colombia soon) through our own app which is available for PC, iOS, and Android. Learn more at https://vitawallet.io.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210920005983/en/

Media

Letícia Resende

lresende@dlocal.com

Source: dLocal

FAQ

What is dLocal's Direct Issuing service?

dLocal's Direct Issuing service allows merchants to issue branded prepaid cards for shopping in local currencies.

Which fintech company is partnering with dLocal to use the Direct Issuing service?

Vita Wallet is one of the first companies to adopt dLocal's Direct Issuing service.

How does Vita Wallet benefit from dLocal's new service?

Vita Wallet enhances customer experience, allowing instant fund access and efficient payment methods for its users.

What advantages do the prepaid cards issued by dLocal offer?

The cards facilitate faster transactions, cash withdrawals, and payments without needing a bank account.

Is dLocal publicly traded, and what is its stock symbol?

Yes, dLocal is publicly traded on NASDAQ under the stock symbol 'DLO'.