Uruguay-based payments platform dLocal has teamed up with Belmoney, a remittance-as-a-service (RAAS) provider in Europe, to support Belmoney in facilitating cross-border payouts
The tie up will integrate over 900 local and alternative payment methods (APMs), including credit and debit cards, bank transfers, and instant transactions.
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It aims to enhance service reliability, and cost efficiency of cross-border transactions for users in several countries, such as Bangladesh, Ecuador, Peru, and Pakistan.
Besides, it incorporates digital wallets like OPay in Nigeria and GCash in the Philippines, ensuring secure and prompt fund transfers.
Belmoney plans to leverage dLocal expertise to expand into additional markets such as China, with the objective of establishing itself as Europe’s first RAAS platform.
It aims to assist money transfer operators (MTOs) to scale operations, transaction processing, and compliance for international financial activities with payments infrastructure.
Belmoney CEO and founder Bruno Pedras said: “Our partnership with dLocal is a game-changer in the remittance space. By integrating with dLocal’s comprehensive network, we can significantly lower costs, improve transaction speeds, and provide a better cross-border payments experience for both senders and recipients.”
dLocal head of remittances Martin Sapiurka stated: “At dLocal we are committed to simplifying global payments in emerging markets. The collaboration with Belmoney ensures that more people in underserved regions have access to fast, reliable, and cost-effective cross-border payments in Africa, Asia and Latin America.
In January this year, dLocal received an authorised Payment Institution licence from UK’s Financial Conduct Authority (FCA).
This licence allows dLocal to provide a range of regulated payment services to UK-based merchants, including pay-ins and payouts, cross-border transactions, and fraud controls.
