dLocal, the top payment platform that links international retailers with emerging markets announced a strategic partnership with Belmoney, the first Remittance-as-a-Service (RAAS) provider in Europe, on Tuesday.
Through this partnership, Belmoney is able to facilitate cross-border payouts by utilising more than 900 local and Alternative Payment Methods (APMs), including digital wallets like OPay in Nigeria and GCash in the Philippines, as well as credit and debit cards, bank transfers, and instant transactions in Bangladesh, Ecuador, Peru, and Pakistan.
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By greatly enhancing processing speeds, service dependability, and cost effectiveness, this integration guarantees that users receive their money in a timely and secure manner.
Challenges with global remittance industry
The global remittance industry remains burdened with high fees and slow transaction speeds.
According to the IMF, transfers under $200 incur average fees of 10 percent, reaching up to 20 percent in smaller migration corridors.
The United Nations’ Sustainable Development Goals call for a reduction in remittance costs to three percent, yet the current average sits at 6.5 percent —posing a financial burden on senders and recipients, particularly in low-income regions.
Belmoney to leverage dLocal’s expertise to expand to emerging markets
Belmoney, Europe’s first Remittance-as-a-Service (RAAS) platform, is propelling innovation and breaking into rapidly expanding countries like China by leveraging dLocal’s experience.
The platform streamlines transaction processing, improves compliance, and enables MTOs to grow effectively for smooth cross-border operations by strengthening payment infrastructure.
“Our partnership with dLocal is a game-changer in the remittance space,” said Bruno Pedras, Founder & CEO at Belmoney. “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.”
“At dLocal we are committed to simplifying global payments in emerging markets,” said Martin Sapiurka, Head of Remittances at dLocal. “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.”
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About dLocal
dLocal powers local payments in emerging markets and links billions of emerging market customers in Latin America, Africa, the Middle East, and Asia-Pacific with global enterprise merchants.
The “One dLocal” concept (one direct API, one platform, and one contract) allows multinational corporations to receive payments, send payouts, and settle funds worldwide without having to set up multiple local entities, manage separate pay-in and pay-out processors, and integrate multiple acquirers and payment methods in each market.
About Belmoney
Belmoney, the first Remittance-as-a-Service (RAAS) provider in Europe, provides embedded financial services, payment aggregation, and white-label remittance solutions to banks and money transfer operators.
International payments are being revolutionised by the European fintech business Belmoney.
Belmoney is committed to financial inclusion and smooth international transactions, and it operates in more than 180 countries.
The business also functions as a payment aggregator, joining several remittance firms into a single network to improve their capacity to expand into new markets and streamline processes.
By utilising Belmoney’s infrastructure to handle transactions effectively and at scale, this strategy enables regional firms to directly compete with industry titans like Remitly, Ria, Wise, and Sendwave.