dLocal Teams Up with Ria Money Transfer

dLocal, a Uruguay-based cross-border payment platform, is making significant strides in the global remittance market through strategic partnerships and expansion into emerging economies. Agustin Cerisola, General Manager for Africa, Asia, and Global Remittances at dLocal, is leading these efforts, leveraging the company’s expertise in local payment systems across high-growth markets.

dLocal recently announced a partnership with Ria Money Transfer, a subsidiary of Euronet Worldwide, Inc., to enhance remittance services in Africa, Latin America, and South Asia.

This deal was struck to capitalize on the growing remittance flows to low- and middle-income countries, which the World Bank estimated at US$669bn in 2023, representing a 3.8% increase from the previous year.

Agustin Cerisola emphasizes the importance of this partnership: “We’re thrilled to support Ria, and work closely with them to support their mission of facilitating financial access through seamless and secure money transfers.

Agustin Cerisola notes that the global remittance market is key in supporting millions of families worldwide, specifically in the emerging markets dLocal operates in.

The remittance sector is transforming today, with traditional cash-based transfers giving way to instant payment systems.

Examples of these systems include PIX in Brazil, UPI in India, and InstaPay in Egypt.

dLocal’s focus is on providing innovative payment solutions in emerging markets.

Related: How to Customize Your Wedding Band to Complement Your Engagement Ring

They have also partnered with ACE Money Transfer to improve payout services across the Asia-Pacific (APAC) region and Europe, the Middle East and Africa (EMEA).

This collaboration enables customers in the UK, Europe, Canada, Australia, and Switzerland to instantly transfer money to several corridors across APAC and EMEA using various payment channels, including bank transfers and wallet payments.

Remittance flows to these regions are showing significant growth. EMEA countries recorded US$79bn in remittances during the 2022 fiscal year, a 19% increase from the previous year, while APAC countries saw a modest 0.7% increase, reaching US$130bn.

Agustin Cerisola adds: “Remittances can mean different things to each individual. For example, a lower-income household may rely on remittances to finance the purchase of consumer goods, housing, education, and healthcare.

For others, remittances may provide capital for entrepreneurial activities or cover business costs such as imports or debts. The key is that remittances and international payments need to be reliable and secure.”

The company has also been active in joining industry associations, recently becoming a member of the International Association of Money Transfer Networks (IAMTN).

Agustin Cerisola sees this move as key for the company’s long-term goals: “For dLocal, joining IAMTN is another step towards solidifying our long-term commitment to make payments for International Money Transfer Organisations as straightforward as possible,” he says.

Through collaboration with fellow members and IAMTN, dLocal will continue building instant payment rails for emerging markets that are more affordable, accessible, and simple.