MONTEVIDEO, Uruguay--(BUSINESS WIRE)--dLocal, the leading cross-border payment platform connecting global merchants to emerging markets, today announced new partnership milestones with Deel, a leading global compliance and payroll solution that helps businesses scale their remote workforce capabilities.
dLocal has been working with Deel since February 2020, when they selected dLocal as its Payment Service Provider (PSP), integrating dLocal’s payout solution to enable companies to deliver direct payouts seamlessly into employees’ bank accounts, in local currencies with no additional fees for recipients.
To date, the partnership has unlocked more than 700 payment methods across 19 countries worldwide for Deel, resulting in significantly increased payments volumes and achieving a delivery rate of over 99.97%.
The seamless integration has enabled the partners to scale rapidly into new countries over the course of their two-year partnership:
- In February 2020, dLocal and Deel launched in Brazil, Colombia and Mexico
- By December 2020, the partners grew across Latam and Asia, successfully expanding into 6 new countries including: Bangladesh, Bolivia, Chile, China, Costa Rica, Peru, and Thailand
- Over the past 12 months, dLocal and Deel added 8 additional countries including: Argentina, Dominican Republic, Egypt, India, Nigeria, Pakistan, Paraguay, Philippines, and Uruguay
“We have chosen a growth partner that enables us to overcome the complexity of the markets it operates in and move at speed to leverage new growth opportunities,” said Courtney Chin, Head of Fintech Operations at Deel. “We trust in dLocal being the perfect payments partner to support our expansion. They already have a team on the ground with an impressive experience in Africa – the support they’re providing is invaluable.”
“Deel’s driven mission to support the evolving future of work and ambitious growth goals for global expansion made them a natural partner to scale into new emerging markets under One dLocal approach: one API, one platform, one contract,” said Michel Golffed, SVP Growth at dLocal. “Through our partnership, we have been able to achieve faster payments with frictionless operations at lower costs – and we can’t wait to continue the momentum as Deel further accelerates their promising growth.”
To learn more about the partnership, read the joint case study launched at this year’s Money2020 USA event – taking place in Las Vegas from October 23-26, 2022: https://hubs.ly/Q01qq5_W0
dLocal powers local payments in emerging markets connecting global enterprise merchants with billions of emerging market consumers across Africa, Asia, Latin America, and the Middle East. Through the “One dLocal” concept (one API, one platform, one contract), global companies can accept payments, send pay-outs, settle funds globally, and support with the issuing of white label prepaid virtual and physical debit cards in local currencies, without the need to manage separate pay-in and payout processors, set up numerous local entities, and integrate multiple acquirers and payment methods in each market. Learn more at https://dlocal.com.
Deel helps companies hire anyone, anywhere through its global payment management and compliance solution. With its platform, companies – regardless of type and size – can hire, manage and pay independent workers and full-time employees in more than 150 countries, in a few minutes and complying with the rules. With over 200 legal, accounting, mobility and tax experts as partners, Deel enables any company to create, sign and send localized contracts from a library of templates. Deel automates the process of collecting country-specific documents, such as tax documents for freelancers and employees, to ensure they are set up correctly. The platform also allows companies to pay international service providers and employees in more than 120 currencies with just a few clicks. For more information: Deel.com