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dLocal has announced a strategic partnership with Digit9, the payments orchestration platform under LuLu Financial Holdings, to strengthen payout services across five African markets. This collaboration is designed to integrate local bank rails and alternative payment methods, unlocking greater efficiency in a region where remittance costs remain among the highest globally. With remittance fees averaging 8.5% in Africa, nearly three times higher than the United Nations’ recommended 3% benchmark, this initiative is set to make a meaningful impact on financial accessibility and affordability.
By leveraging each other’s expertise, dLocal and Digit9 aim to reduce systemic challenges in the payout ecosystem. These challenges include fragmented infrastructure, slow processing, and limited interoperability of eWallets. Through improved processing layers and expanded payout options, the partnership will facilitate faster delivery times and provide recipients with greater flexibility, ultimately bringing a more reliable experience for individuals and businesses alike.
The partnership also reflects both companies’ commitment to innovation and their recognition of Africa as a region of immense growth potential. Joseph Cleetus, VP of Business Transformation at LuLu Financial Holdings, emphasized that the collaboration aligns with their vision to provide dependable payouts in complex and diverse markets. For dLocal, the partnership underscores its ongoing mission to tailor payment solutions that mirror how money truly moves in different local contexts, ensuring inclusivity across the financial landscape.
While the specific countries covered under this collaboration have not yet been disclosed, the service expansion marks a crucial step toward reshaping the remittance and payout landscape in Africa. By combining technology, local knowledge, and global expertise, dLocal and Digit9 are positioning themselves at the forefront of financial transformation in a continent where affordable, efficient, and accessible payout solutions are urgently needed.
