Amazon offers cross border payments option for Chilean consumers

|

Daniel Webber
Daniel Webber
Founder & CEO
Daniel is Founder and CEO of FXcompared and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors. Daniel is widely… Read more
  • dLocal will help deliver cross border payments services to Amazon customers in Chile, a major market in Latin America
  • It will be possible to pay for Amazon Prime Video in the local currency as a result of the development, while access to credit cards are also set to be enhanced
  • “dLocal operates as the local merchant of record on behalf of its clients, speeding time-to-market and minimising operational costs”, said a dLocal spokesperson

Major global e-commerce platform Amazon has announced that it will work alongside a fintech company to enhance cross border payments options for consumers in Chile.

It will work alongside dLocal, which is described as a “360 payments platform” designed specifically for emerging markets.

The collaboration will lead to customers in Chile, which is one of the most prominent economies in Latin America, enjoying the ability to use Amazon with a range of payment methods such as credit cards based either within Chile or further afield.

Another benefit lies in the way the collaboration will make the payment process easier for customers even beyond choosing their payment method.

It will be possible to shop using interest-free instalments in order to manage personal cash flow, for example, while it will also now be possible to use the local currency – the Chilean peso – to pay to sign up to Amazon Prime Video.

dLocal offers people the opportunity to shop with hundreds of different localised payment services.

It provides its services using one application programming interface (API).

The company has been spending a lot of time researching and working on solutions which are focused on areas like Latin America, which often fall behind when it comes to cross border payment options.

According to the firm’s CEO, Sebastian Kanovich, the company is “honoured” to be making life easier for Amazon customers.

“Amazon has a long history of pioneering online innovation and bringing e-commerce to the rest of the world”, he said in a statement.

“We are honoured to enable Amazon customers in Chile to shop on Amazon.com with international and domestic credit cards, including interest-free instalments and Amazon Prime Video subscriptions in Chilean Pesos”, he added.

Press reports quoted the company as describing itself as the “local merchant of record” for its clients in the areas in which it operates.

“The platform bridges the gap between the needs of global, online enterprises and payments realities in emerging countries”, it said.

“dLocal operates as the local merchant of record on behalf of its clients, speeding time-to-market and minimising operational costs.”

dLocal offers the opportunity for payments to be processed on a local level in 15 nations around the world.

Its reach, when “emerging consumers, sellers and contractors” are taken into account, is believed to be over two billion.

Firms like dLocal are changing the way the cross border payments industry works – for the better.

Check out more information about the international money transfer sector in our news section. 


Most Read

Use Our Currency Comparison Tool

Select country...

Select country...

Send

Editor's Choice

FXcompared.com is an fx money comparison site for international money transfer and to compare rates from currency brokers for sending money abroad. The website and the information provided is for informational purposes only and does not constitute an offer, solicitation or advice on any financial service or transaction. None of the information presented is intended to form the basis for any investment decision, and no specific recommendations are intended.  FXC Group Ltd and FX Compared Ltd does not provide any guarantees of any data from third parties listed on this website. FX compared Ltd expressly disclaims any and all responsibility for any direct or consequential loss or damage of any kind whatsoever arising directly or indirectly from (i) any error, omission or inaccuracy in any such information or (ii) any action resulting therefrom.