Uruguay-based cross-border payment platform dLocal has entered a strategic collaboration with iTransfer to provide cross-border payment solutions to emerging markets. In a bid to mitigate currency volatility in emerging markets, which currently affects remittance values, dLocal and iTransfer partnered to offer advanced cross-border payment services, with competitive rates, real-time currency updates, and improved flexibility for end-users.

As part of the initial launch, the two companies plan to support payouts for both bank transfers and wallet payments in Nigeria, the Philippines, and Pakistan. Following this, dLocal and iTransfer intend to expand their services to Bangladesh, Morocco, Egypt, and India, further broadening their reach. dLocal and iTransfer’s development strategy As a money remittance firm with a presence in EMEA, Latin America, and APAC, iTransfer is committed to delivering reliable and efficient remittance services, supporting individuals in sending money across borders more conveniently.

By utilising technology and forging collaborations, iTransfer intends to simplify the remittance process and improve financial accessibility for users globally. By joining forces with dLocal, the company intends to provide its users with optimised rates and reliable payout methods to further assist the financial needs of emerging markets. Moreover, the current move aligns with iTransfer’s growth and expansion strategy, with the firm integrating dLocal’s payment infrastructure to improve the remittance experience for users.

The collaboration also assists iTransfer in its objectives to expand financial inclusion and accessibility, equipping its customers with secure and convenient transactions. Furthermore, representatives from dLocal underlined that the partnership with iTransfer is set to meet the specific demands of cross-border payments in volatile markets, while also advancing the former’s allegiance to equitable access to financial services. Currently, dLocal enables local payments in high-growth markets, developing connections between global enterprise merchants and consumers across Africa, Asia, and Latin America. Via the One dLocal concept, which provides, one direct API, one platform, and one contract, worldwide firms can accept payments, send payouts, and settle funds internationally without being required to manage separate pay-in and payout processors, institute different local entities, and integrate multiple acquirers and payment methods in each market.

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