dLocal has partnered with Digit9, a payments orchestration platform under LuLu Financial Holdings, to enhance payout services in five African markets.
The collaboration integrates local bank rails and alternative payment methods (APMs) with the aim of addressing Africa’s high remittance costs which currently average 8.5%. This is nearly three times the 3% benchmark recommended by the UN. The partnership is expected to facilitate faster delivery times and more payout options for recipients by improving processing layers and interoperability.
Digit9 aims to overcome common challenges in the African payout space. These include fragmented infrastructure and limited eWallet compatibility.
“Africa is a key part of our growth strategy,” said Joseph Cleetus, VP of Business Transformation at LuLu Financial Holdings. “With dLocal, we can deliver more dependable payouts in complex and diverse markets with significant growth potential.”
Agustín Botta, VP of Sales EMEA at dLocal, added, “This collaboration is about building payout experiences that reflect how people move money, tailored to each local context.”The expanded service will cover five key African countries, although specific markets were not disclosed.
Also Read: [Interview] How dLocal Facilitates Payments Across Emerging Markets
