A cross-border payment platform, dLocal, that connects global merchants to emerging markets announced a new partnership deal with embedded lending platform Dinie. The new partnership allows global merchants to offer installment payments, or a pay later approach, to their customers in Brazil as a form of small business lending, according to a press release.

The Dinie pay later solution enables merchants to get paid up-front and in full, while their customers benefit from paying in three-to-nine-month installments. The merchant has no credit risk exposure, and SME customers are not required to have a credit card to pay, but can use their Dinie credit account while on the installment plan. Once a purchase is confirmed at the merchant's checkout, the Dinie Pay option is presented and the SME customers can choose to split the payment into up to nine monthly installments.

"At dLocal, we are innovators at heart and our goal is to bridge the payments innovation gap between developed countries and emerging economies and Dinie shares that ambition with us. Dinie is complementing dLocal's hyper local Brazilian payments solutions with capital accessibility to SMEs to pay for higher value business purchases and invest in their growth via improved technology and digital marketing. We enable global merchants to unlock new revenues and get paid upfront, frictionless and risk free," Rodrigo Sanchez Prandi, VP Product at dLocal, said in the release.