dLocal and ACE Money Transfer Partner to Facilitate Instant and Convenient Remittances in APAC and EMEA
October 24 2023 - 11:33AM
Business Wire
As trusted payout partners, dLocal and ACE Money Transfer are
providing fast, secure, and cost-effective remittance solutions in
emerging markets.
DLocal Limited (Nasdaq: DLO), the technology-first
payments partner for global companies expanding into emerging
markets, has partnered with ACE Money Transfer, a UK-based online
international remittances service provider, to strengthen payout
services across APAC and EMEA.
EMEA countries recorded $79 billion in remittances in FY22,
which is 19% higher than the preceding year (FY21). On the
contrary, APAC countries observed a mere 0.7% increase in
remittances, reaching $130 billion in FY22. Strategic
collaborations between financial institutions like ACE Money
Transfer and dLocal can foster significant growth in remittance
inflows to these regions through streamlined, secure, fast, and
convenient processes.
Using ACE Money Transfer and dLocal, customers in the UK,
Europe, Canada, Australia, and Switzerland can instantly transfer
money to several corridors across APAC and EMEA through payment
channels such as Bank Transfers and Wallet Payments. The new
partnership furthers dLocal’s mission to build the best payment
infrastructure in emerging markets, fostering fast, convenient,
secure, and economical remittance solutions for expatriates. This
is key to addressing digital divides in developing regions and
supporting people at a local level.
As trusted partners to expand financial services into frontier
markets, dLocal and ACE Money Transfer are set to revolutionise
faster, compliant, and efficient remittance capabilities for
expatriates from the said regions. Both organisations see the
regions in question as areas for growth due to the increased demand
for international remittances.
Agustin Cerisola, Head of Asia & Africa, Global Remittances
at dLocal said: “We are passionate about improving payments at a
local level, playing on regional nuance to ensure people are
financially included, but also empowered, and benefit from
technological developments in the payments space. 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.”
Rashid Ashraf, the CEO of ACE Money Transfer expressed: “It is
important to have a like-minded partner when you move into new
territories. We found dLocal’s approach aligned with ours and was
invaluable when we explored new markets. ACE Money Transfer
provides fast and secure money transfers to over 100 countries and
moves quickly to address payment gaps globally, ensuring our
customers can transfer money abroad without friction and delays. I
look forward to seeing where the partnership with dLocal takes us
next.”
The groundbreaking partnership between dLocal and ACE Money
Transfer marks a pivotal advancement in the financial technology
sector, particularly concerning cross-border transactions. This
alliance not only stands to bolster the economic links between APAC
and EMEA and the diaspora communities in the UK, Europe, Canada,
Australia, and Switzerland, but it also promises a future where
financial inclusivity is within reach for global citizens. By
prioritising speed, security, and accessibility, the collaboration
is setting a new standard for remittance services worldwide,
ensuring that expatriates can support their families and contribute
to their home economies with unprecedented ease and confidence. As
you watch this partnership unfold, it becomes increasingly clear
that dLocal and ACE Money Transfer are not just redefining the
remittance landscape – they're fostering a more interconnected
world.
About dLocal
dLocal powers local payments in emerging markets, connecting
global enterprise merchants with billions of emerging market
consumers in 40 countries across APAC, the Middle East, Latin
America, and Africa. Through the “One dLocal” platform (one direct
API, one platform, and one contract), global companies can accept
payments, send pay-outs and settle funds globally without the need
to manage separate pay-in and pay-out processors, set up numerous
local entities, and integrate multiple acquirers and payment
methods in each market.
About ACE Money Transfer
ACE Money Transfer, based out of Manchester, the UK, is a
growing remittance provider regulated by the Financial Conduct
Authority (FCA) as an Authorised Payment Institution (API). It
offers impeccable online money transfer services to millions of
expatriates with an extensive network of 375,000+ locations spread
across 100+ countries worldwide.
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