Shoppers in emerging markets pay very differently from those in the U.S. Many skip credit cards and pay through instant bank transfers, mobile wallets or installment plans. That gap is a big
Shoppers in emerging markets pay very differently from those in the U.S.
Many skip credit cards and pay through instant bank transfers, mobile wallets or installment plans. That gap is a big hurdle for global companies trying to sell there.
dLocal, a cross-border payments company that helps global businesses accept payments and send payouts in more than 60 countries, says the fix may also be a growth opportunity.
Its new report, The Local Code, argues that offering an additional local payment method tends to bring in new sales rather than shifting existing customers from one option to another.
The report covers 17 markets across Africa, Asia, the Middle East and Latin America.
It draws on dLocal’s own merchant transaction data, a 2026 consumer survey and third-party figures from PCMI, a payments market research platform.
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dLocal’s case studies point to large gains. One Brazilian merchant saw total transaction volume rise 55% within five months of adding Pix, Brazil’s instant payment system.
In Peru, a merchant added Yape, a popular mobile wallet. According to the report, Yape overtook cards as the merchant’s top payment method within three months. Total volume rose more than 25% over six months.
In Colombia, the mobile wallet Nequi grew from 63% to 68% of one merchant’s volume within six months. dLocal says almost all of that came from new spending rather than cardholders switching over.
“A second local payment method doesn’t eat into the first, it reaches customers the first one never touched,” said dLocal CEO Pedro Arnt.
The company says the benefits go beyond volume. Processing costs fell 19% in Colombia after Nequi was added. In Peru, costs fell 30% once Yape became the leading method.
In Mexico, a merchant that added Kueski, a buy now, pay later (BNPL) provider, saw average order values 6.1% higher than debit card purchases. BNPL lets shoppers split a purchase into smaller payments over time.
Arnt framed the findings as an access issue too. He noted that millions of people in these markets own a phone but have no credit history.
Accepting the payment methods they already use, he said, opens a path into online commerce.
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