dLocal and USI Money Partner to Streamline Cross-Border Payments in Asia and Africa
dLocal, a leading cross-border payment platform specializing in emerging markets, has announced a strategic partnership with USI Money, a prominent foreign exchange provider and money transfer operator. The collaboration aims to address major challenges in cross-border payments, including high costs, slow processing times, and limited access issues highlighted by the Financial Stability Board (FSB).
According to the FSB, over 40% of cross-border transactions take more than a day to settle, while 65% of consumers prioritize instant transactions, which traditional systems often fail to deliver.
Through this partnership, dLocal and USI Money will offer seamless cross-border payments by enabling direct transfers into bank accounts and digital wallets such as Bkash and Nagad in Bangladesh, M-Pesa and Airtel in Kenya and Uganda, and UPI in India. This solution promises competitive rates and faster processing times, improving financial access for users across these high-growth regions.
“By joining forces with dLocal, we can leverage their innovative technology and extensive network to enhance our services across Asia and Africa,” said Sohail, SVP of Business Development EMEA at USI Money. “Together, we aim to ensure quick and affordable access to funds, fundamentally transforming the cross-border payment experience.”
Agustin Botta, Head of EMEA at dLocal, added, “This partnership reinforces our commitment to emerging markets and facilitates fast, secure cross-border transactions. By empowering USI Money with cutting-edge solutions, we’re addressing global payment challenges and making strides toward greater financial inclusion.”
The collaboration marks a significant step in improving the speed, cost, and accessibility of cross-border payments in key emerging markets.
