Topper by Uphold and dLocal Join Forces to Expand Payment Flexibility in Emerging Markets

Payments
22.08.2024 11:25 am

dLocal, the leading cross-border payment platform specializing in high-growth markets, today announced its strategic partnership with Topper, Uphold’s onramp service. Uphold is a multi-asset digital money platform renowned for its ‘Anything-to-Anything’ model. This collaboration aims to combine dLocal's payment processing expertise with Uphold's versatile financial platform to enhance financial accessibility across emerging markets.

According to The Global Findex Database 2021 - World Bank, only 28% of the LATAM population owns a credit card. Alternative payment methods (APMs), embraced by 60% to 89% of adults, cater to local preferences and are key to unlocking the market’s potential.

As Uphold’s Topper expands into Latin America, partnering with dLocal will enable them to offer tailored alternative payment methods (APMs) and access to various local currencies to meet diverse regional needs in Brazil and Mexico, including bank transfers in Chile and Colombia. This will eliminate the limitations associated with single payment methods or currencies. South Africa is on the roadmap for future expansion in 2024.

“Enabling our users to access local currencies and offering a variety of payment methods is crucial to our mission of providing accessible financial services to everyone,” says Robin O'Connell, CEO, Enterprise at Uphold. “Partnering with an expert as dLocal allows us to break down barriers and offer a seamless, inclusive financial experience to our users in our markets.”

“Collaborating with Topper by Uphold to introduce alternative payment methods (APMs) in such a complex and high-growth industry is a testament to our commitment to financial inclusion,” says Justo Benetti, SVP Head of Americas at dLocal. “We are excited to expand our reach and continue offering innovative payment solutions that cater to the diverse needs of users across emerging markets.”