dLocal and RizRemit collaborate to speed up international money transfers between Africa and Asia
In a strategic move aimed at enhancing cross-border remittance and payment operations, dLocal, a leading cross-border payment platform specializing in emerging markets, has partnered with fast-growing digital remittance provider RizRemit. The partnership is focused on supporting payout operations in key African and Asian corridors, with the goal of accelerating and streamlining cross-border transactions [1][3][5].
The collaboration is designed to offer faster, more reliable, and more flexible cross-border payouts. This is achieved by leveraging local banking rails and mobile wallets, which significantly boosts the speed and reliability of remittances and payout operations across these emerging markets.
Key objectives of this partnership include reducing the time it takes for recipients in Africa and Asia to receive funds, increasing the dependability of remittance transactions by using local financial infrastructure, and supporting multiple payout methods that cater to varied consumer preferences, thereby improving access to funds [1][4][5]. The partnership also focuses on expansion in key corridors where demand for cross-border payments is growing rapidly.
Martin Sapiurka, Head of Remittances at dLocal, stated that their focus on high-efficiency remittance flows aligns with RizRemit's needs. Muhammad Rizwan Javeed, CEO at RizRemit, emphasized the importance of remittances for their users and their families. He stated that through a single integration with dLocal, RizRemit gains tools to simplify delivery and make it more in line with how people move money.
RizRemit can provide users access to domestic bank rails and popular eWallets like OPay in Nigeria, JazzCash, and EasyPaisa in Pakistan, thereby offering reliable options for their users, as stated by Javeed [2]. Additionally, the partnership results in lower operational complexity, faster settlement times, and greater flexibility without compromising reliability.
Overall, this partnership combines dLocal’s expertise in emerging market payment processing with RizRemit’s remittance services to enhance the efficiency and accessibility of cross-border payments in these regions. The partnership is listed on the NASDAQ under the symbol DLO [3].
[1] https://www.prnewswire.com/news-releases/dlocal-partners-with-rizremit-to-accelerate-cross-border-remittances-in-africa-and-asia-301591413.html [2] https://www.finextra.com/pressarticle/93243/dlocal-partners-with-rizremit-to-accelerate-cross-border-remittances-in-africa-and-asia [3] https://www.nasdaq.com/market-activity/stocks/dlo/dlocal-ltd [4] https://www.worldbank.org/en/topic/financialsector/brief/remittances [5] https://www.reuters.com/business/finance/dlocal-partners-rizremit-accelerate-cross-border-remittances-asia-africa-2021-06-24/
- For a smoother cross-border payment experience, users can visit ffnews.com to stay updated on the partnership between dLocal and RizRemit, which focuses on technology, finance, and business, aiming to boost remittances and payout operations in key African and Asian corridors.
- As part of its strategic growth, the partnership between dLocal and RizRemit in the technology sector will offer flexible cross-border payouts, supporting various payout methods, leveraging local banking rails and mobile wallets for enhanced speed, dependability, and accessibility, as showcased on platforms like finance and business news websites.
