Revolutionizing Cross-Border Payments: dLocal and USI Money's Groundbreaking Partnership

In a strategic move to enhance payment services across Asia and Africa, dLocal, a leading cross-border payment platform, has joined forces with foreign exchange provider USI Money. This collaboration aims to address the longstanding challenges of high costs, slow speeds, and limited access that have plagued the cross-border transaction landscape.

Unlocking Seamless and Affordable Cross-Border Transactions

Bridging the Gap in Cross-Border Payment Experiences

The Financial Stability Board (FSB) has identified that over 40% of cross-border payments take more than a day to settle, leading to delays in fund availability. This delay in fund accessibility has been a significant pain point for both businesses and consumers. Moreover, the growing demand for instant transactions has not been adequately met by traditional payment systems, leaving a void in the market.

Leveraging Innovative Technology and Extensive Networks

By combining dLocal's cutting-edge technology and USI Money's extensive network, the partnership is poised to revolutionize the cross-border payment experience. Sohail, the senior vice president of USI Money's EMEA business development, expressed his enthusiasm for the collaboration, stating, "By joining forces with dLocal, we can leverage their innovative technology and extensive network to enhance our service offerings across Asia and Africa."

Empowering Users with Faster and More Affordable Transactions

The partnership will enable direct transfers into bank accounts and digital wallets, such as Bkash and Nagad in Bangladesh, M-Pesa and Airtel in Kenya and Uganda, and UPI in India. This integration is expected to result in competitive rates and quicker processing times, ultimately empowering users to access their funds quickly and affordably.

Addressing the Global Challenges of Cross-Border Payments

Agustin Botta, the head of dLocal's EMEA operations, emphasized the significance of this partnership, stating, "This partnership underscores our commitment to emerging markets and enables us to facilitate fast and secure cross-border transactions, enhancing accessibility in today's financial landscape." By leveraging innovative solutions, dLocal and USI Money are collectively addressing the global challenges of cross-border payments and making significant strides in overcoming the barriers that users face.

Expanding Reach and Enhancing Financial Inclusion

The partnership between dLocal and USI Money is not limited to Asia and Africa. In February this year, USI Money collaborated with Enjaz Payment Services Company to enable real-time payment processing in Saudi Arabia, further expanding the reach and impact of their joint efforts. This strategic expansion is a testament to their commitment to enhancing financial inclusion and accessibility across diverse regions.

Driving Transformation in the Cross-Border Payment Ecosystem

The dLocal and USI Money partnership represents a significant step forward in the evolution of the cross-border payment ecosystem. By leveraging innovative technologies, extensive networks, and a shared vision of empowering users, this collaboration is poised to redefine the way cross-border transactions are conducted, ultimately benefiting businesses and consumers alike.