dLocal Partners with Belmoney to Revolutionize Cross-Border Payments in Emerging Markets

dLocal, a payment platform from Uruguay, is partnering with Belmoney, a European remittance service provider, to address challenges in the cross-border payments sector. This collaboration is targeted at facilitating low-cost, high-speed transactions across high-growth markets in South America and Asia, notably including Bangladesh, Ecuador, Peru, and Pakistan. The strategic partnership aims to integrate over 900 local and alternative payment methods, broadening access to digital wallets, bank transfers, and credit and debit card payments. The global remittance market has seen continual growth, with key contributions from South Asia and Latin America. Despite an increase in remittance flows, the industry is still plagued by inefficiencies and high transaction fees, which limit consumer access to formal channels. Through strategic expansions like these, dLocal and Belmoney aim to enhance their competitiveness, operational efficiency, and ecosystem in the digital payments landscape. Additionally, dLocal has initiated partnerships with other fintech and ecommerce platforms to fortify its global footprint in payment solutions.