dLocal and USI Money are working together to streamline cross-border payments in Asia and Africa

dLocalthe leading cross-border payments platform specializing in emerging markets, today announced its strategic partnership with USI moneya well-known foreign exchange provider and money transfer provider.

The Financial Stability Board emphasizes that high costs, slow speeds and limited access pose significant challenges in cross-border payments, particularly in emerging markets. Above all, over 40% Transactions take more than a day to process, resulting in delays in the availability of funds (FSB, 2023). Additionally, 65% of consumers prioritize instant transactions, but many are dissatisfied with the slow processing times and inefficiency of traditional payment systems (Mastercard Insights: Signals of the Future of Payments (2023).

Through this partnership, USI Money and dLocal will enable seamless cross-border transactions by enabling direct transfers to 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 focuses on efficiency and ensures competitive prices and fast turnaround times. By creating a secure environment for users to conduct their financial transactions, this collaboration effectively addresses the challenges of high costs, slow speeds and limited accessibility in cross-border payments.

“By working with dLocal, we can leverage their innovative technology and extensive network to enhance our service offering in Asia and Africa.” said Sohail, SVP Business Development EMEA at USI Money. “Together, we are committed to ensuring users can access their funds quickly and cost-effectively, fundamentally improving the cross-border payments experience in these high-growth regions.

“This partnership underscores our commitment to emerging markets and allows us to enable fast and secure cross-border transactions, improving accessibility in today’s financial landscape.” said Agustin Botta, head of EMEA at dLocal. “By supporting USI Money with innovative solutions, we are jointly addressing the global challenges of cross-border payments and making significant progress in overcoming the barriers users face.”