Spotify Premium Trusts dLocal to Offer New Payment Alternatives in Latin America
dLocal, an award-winning fintech company specializing in cross-border payments for emerging markets, announced today that it is enabling Spotify’s new payment methods for customers in Latin America for Spotify Premium through the use of its payments platform. With the expansion of alternative payment options, Spotify will increase accessibility in the Latin American market, where 63% of the population is unbanked and more than 90% do not have a credit card, according to figures from dLocal market research.
Spotify is committed to offering more opportunities to access the best audio experience to its users, regardless of their access to banking services. dLocal was chosen as a technology partner because of their payments expertise in each country where Spotify is present. dLocal offers alternatives that facilitate access and improve the payment experience of Spotify Premium. By leveraging dLocal's 360 payment platform, Spotify significantly reduces friction from the checkout experience through online bank transfers and cash payments through online codes (vouchers), allowing users, regardless of their banking level, to enjoy all the benefits of Spotify Premium.
Spotify Premium users wishing to pay in cash for their individual plan can do so through Rapipago or Pagofacil points in Argentina, Servipag in Chile, Baloto or Efecty points in Colombia, OxxoPay in Mexico, and Pago Efectivo in Peru. Additionally, users who do not want to commit to a Spotify Premium subscription have the option to choose the prepaid payment method, where they can pay for 1, 3, 6, or 12-month plans with cash or bank transfer. Spotify has also enabled bank transfer with WebPay in Chile and PSE in Colombia through dLocal’s Payins solution.
“It is an honor to be working with Spotify to expand access to Spotify Premium for consumers across Latin America,” said Alejandro Esperanza, VP Head of Account Managers at dLocal. “In Latin America, each country has its own distinct identity with consumers who participate in the economy in different ways. Success hinges on the ability to understand each market and how their consumers prefer to pay for the goods and services they enjoy. This partnership underscores our commitment to helping the world’s biggest companies, like Spotify, realize the full potential these markets offer.”
For additional information on dLocal’s Payins solution read here.
dLocal is a leading cross-border payment platform founded upon the mission of closing the payments innovation gap that exists between developed countries and emerging economies. Its 360°, single-API platform is designed to handle and facilitate mass online payments across Latin America, APAC, the Middle East, and Africa. By operating as a merchant’s local payments processor in each country, dLocal empowers global merchants to reach billions of customers, accept payments, send payouts, and settle funds globally. More than 450 global e-commerce retailers, SaaS companies, online travel providers, and marketplaces rely on dLocal to accept over 300 locally-relevant payment methods, as well as issue millions of payments to their contractors, agents, and sellers in growth markets around the world. dLocal’s customers include Amazon, Avast, Banggood, Booking.com, Constant Contact, Didi, DropBox, GoDaddy, MailChimp, TripAdvisor, Uber, Wikimedia, and Zara, among others. Please visit https://dlocal.com/ for more information.
Spotify transformed music listening forever when we launched in 2008. Our mission is to unlock the potential of human creativity by giving a million creative artists the opportunity to live off their art and billions of fans the opportunity to enjoy and be inspired by these creators. Everything we do is driven by our love for music. Discover, manage, and share over 40 million tracks for free, or upgrade to Spotify Premium to access exclusive features including offline mode, improved sound quality, Spotify Connect and ad-free listening. Today, we are the world’s largest music streaming subscription service with a community of more than 200 million users, including over 96 million Spotify Premium subscribers, across 78 markets. For more information, images, or to contact the press team, head over to our press page at https://newsroom.spotify.com/.
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