DLocal announced a strategic partnership with Panda Remit, a global remittance provider, to power its expansion into Africa with faster and more reliable cross-border payment solutions. This collaboration aims to offer secure and efficient payment solutions for recipients in key African markets.
The partnership addresses significant challenges in Africa, including high remittance costs, which averaged 8.72% for sending $200 in Sub-Saharan Africa in 2022, and limited financial access, with 52% of adults in the region lacking formal financial services. DLocal's payment network will help reduce transaction costs and increase operational efficiency.
Panda Remit will gain access to local and alternative payment methods, including bank transfers and mobile wallets like M-Pesa, Orange, and Airtel, across North, West, and East Africa. This integration ensures reliable access to funds for those who rely on remittances, strengthening DLocal's commitment to transforming remittance services and driving financial accessibility in Africa.
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