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Shein taps payments platform to grow in emerging markets

dLocal helped the fast fashion platform increase conversion by 5%.

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Photo by rupixen.com on Unsplash

While ecommerce enables merchants to reach consumers anywhere in the world, international expansion requires the infrastructure that will facilitate sales and logistics across borders.

dLocal is one example of a system that helps to make commerce global. Using its payments platform, merchants can expand in emerging markets.

Recently, dLocal shared results of its integration with fast fashion platform Shein.

Shein operates in more than 150 countries such as the United States, Spain, France, Russia, Australia and the Middle East. It worked with dLocal to provide payment solutions and access scale in these markets, according to a news release.

Since initially working together in 2020, dLocal and Shein said that the fast fashion did the following:

  • Increased conversions by 5%
  • Decreased the chargeback rate from 4% to 0.9%
  • Improved performance risk control through dLocal’s intelligent defense system
  • Reduced refund rate
  • Significantly increased revenue while decreasing SHEIN's operating costs

“dLocal has been a true partner to scale our operations across the global emerging market landscape over the last couple of years,” said Ted Wang, head of global payments at SHEIN, in a statement. “An important part of creating a great experience for our customers is making sure they can use their preferred payment method. It builds on the strong foundation of trust we have with them, and partners like dLocal help make that happen.”

dLocal works with companies to expand in Africa, Asia and Latin America. Through the company's technology, multinational corporations can accept payments globally, distribute payments and settle funds. They can also issue white-label prepaid virtual cards and physical debit cards in local currency. dLocal says companies don’t have to individually manage different acquirers and payment channels, set up multiple local entities, or interface with multiple acquirers and payment methods in each market. In the end, it offers a model that includes one direct API, one platform and one docking.

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On ebay's campus. (Photo by Flickr user Kazuhisa OTSUBO, used under a Creative Commons license)

eBay is set to become the latest ecommerce platform to conduct layoffs.

The company announced plans on Tuesday to lay off 500 employees, which amounts to about 4% of its workforce. Layoffs were set to take place over the next 24 hours, the company said Tuesday evening.

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