DLocal announced a strategic partnership with Belmoney, Europe's first Remittance-as-a-Service (RAAS) provider, to transform cross-border remittances in key emerging markets. This alliance enables Belmoney to facilitate payouts leveraging DLocal's network of over 900 local and alternative payment methods.
The partnership targets countries such as Bangladesh, Ecuador, Peru, Pakistan, Nigeria (with OPay), and the Philippines (with GCash), with planned expansion into China. It aims to significantly lower costs and improve transaction speeds in the global remittance industry, where transfers under $200 can incur average fees of 10%.
By reinforcing payment infrastructure, DLocal helps Belmoney scale efficiently, streamline transaction processing, and enhance compliance for seamless cross-border operations. This collaboration supports the United Nations' Sustainable Development Goals to reduce remittance costs, providing more affordable and reliable financial services to underserved populations.
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