dLocal partners with MoneyGram to expand leading international payment services in high-growth markets
Strategic partnership set to improve remittance rates and service efficiency for consumers across APAC and EMEA, with expansion plans for LATAM
Montevideo, Uruguay, September 19th, 2024 – dLocal, the leading cross-border payment platform specializing in emerging markets, today announced a strategic partnership with MoneyGram, a leading global financial technology company that connects the world's communities. The partnership will help MoneyGram continue to expand its high-demand services into new markets across APAC & EMEA, with future expansion plans for LATAM, further enhancing the company’s digital receive capabilities.
According to the World Bank, the global average cost to consumers for cross-border payment transactions was 6.35% in the first quarter of 2024, while bank services have remained the most expensive type of cross-border payment, with an average cost of 12.66%. As per MoneyGram data, MoneyGram offers some of the lowest prices in the industry with a global average cost to consumers of around 2.9%, well ahead of UN Sustainability Goals to lower remittance fees to under 3% by year 2030.
By partnering with dLocal, MoneyGram will continue to streamline cross-border payments and lower costs to consumers by pairing its global network and innovative technology with dLocal’s advanced payout solutions and adaptable local payment methods, such as wallets and bank accounts. This integration will ensure consumers in these high-growth emerging markets can access swift and cost-effective transactions via MoneyGram.
“Our partnership with dLocal is another big step forward in our mission to reach consumers around the world with our leading cross-border payment services,” said Anna Greenwald, Chief Operating Officer at MoneyGram. “With dLocal’s expertise in emerging markets and robust digital payout solutions, we’re positioned to elevate the remittance experience, delivering faster, more seamless transactions, for millions of people across key markets worldwide.”
“We're thrilled to join forces with MoneyGram, a true pioneer in the international money transfer space,” said Carlos Menendez, Chief Operating Officer at dLocal. “Together, we’re pushing the boundaries of innovation, combining cutting-edge technology with deep local expertise to transform financial access in high-growth markets. This partnership is all about creating faster, smarter, and more inclusive payment experiences for millions of people across the globe.”
About dLocal
dLocal powers local payments in high-growth markets, connecting global enterprise merchants with billions of high-growth market consumers across Africa, Asia, and Latin America. Through the "One dLocal" concept (one direct API, one platform, and one contract), global companies can accept payments, send payouts, 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.
For more information, visit: https://dlocal.com.
About MoneyGram
MoneyGram International, Inc. is a global financial technology company enabling consumers and businesses to move and manage money in nearly every country around the world. Through its innovative cross-border platform, MoneyGram provides millions of consumers globally the ability to send money home for family and friends to pick up in cash or receive directly to a bank account, mobile wallet or card. The Company is a pioneer in the use of blockchain technology at scale and also enables consumers to buy, sell and hold digital currencies on its industry-leading app. With one of the world's most extensive and dynamic cash distribution networks, MoneyGram has become the single largest on and off-ramp provider for digital currencies in the world. The MoneyGram team spans the globe with over 2,000 employees across 36 countries, representing more than 75 nationalities. Headquartered in Dallas, Texas, and known for its strong corporate culture globally, MoneyGram has been named a recipient of the Top Workplaces USA award for three consecutive years. By the numbers, MoneyGram serves more than 50 million people in over 200 countries and territories each year, processing more than $200 billion USD annually. Relentlessly digital-first and customer-centric, the Company's digital transactions now account for over 50% of its money transfer business.
For more information, visit: https://www.moneygram.com/mgo/us/en/.
