dLocal pairs up with Spotify for new payments option

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • dLocal, which is based in San Francisco, will cater to the Latin American market by providing a diverse range of payment types to Spotify Premium users.
  • The service will aim to assist underbanked and unbanked individuals by offering cash payments, online voucher codes and more.
  • A spokesperson for the firm emphasised that individual countries in the region need different approaches when it comes to payments.

International money transfers firm dLocal has announced a new payments service for customers of the Spotify music streaming service.

The move will enable easier payments to Spotify by customers in the Latin America region, where a significant part of the population is unbanked.

According to press reports, almost two-thirds of people in Latin America are officially unbanked, and less than 10% of people there possess a credit card.

As part of the new move from dLocal, however, Spotify customers in the region who are part of its ‘Premium’ service will now be able to pay via other methods.

These include internet-based bank transfers and payments in cash.

There is also an option for online voucher codes to be used to pay for the popular music streaming service.

Customers in several countries in the region will benefit from the change.

On the list are major economies on the South American continent, such as Chile and Mexico.

Also represented are Peru, Colombia and Argentina.

The move means that various partner outlets in each country will now accept cash to pay for Spotify services.

In Mexico, for example, customers would be directed via OXXO PAY.

In Argentina, they would need to go via Pago Fácil or Rapipago.

A spokesperson for dLocal, which is based in the major US technology hub of San Francisco, said that it was important to recognise the diversity of each nation on the list.

Alejandro Esperanza, who serves as the vice president of account managers at dLocal, said that individuals often took different approaches to economic participation.

“In Latin America, each country has its own distinct identity with consumers who participate in the economy in different ways,” he said.

He went on to say that research and proper understanding were both important for meeting market needs – and that firms that managed to understand their market would do well.

“Success hinges on the ability to understand each market and how their consumers prefer to pay for the goods and services they enjoy,” he explained.

Finally, he emphasised that the size of firms such as Spotify also played a role when it came to developing partnership plans.

“This partnership underscores our commitment to helping the world’s biggest companies, like Spotify, realize the full potential these markets offer,” he added.

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