OnTop partners with dLocal

Following this announcement, Ontop is set to streamline the payment process in a secure and efficient manner, ensuring swift and cost-effective currency conversion to local currencies. These services will be introduced in multiple key markets, including Argentina, Bangladesh, Bolivia, Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, India, Indonesia, Mexico, Morocco, Nicaragua, Nigeria, Panama, Paraguay, Peru, Pakistan, the Philippines, South Africa, Thailand, Turkey, and Vietnam.

This process is expected to further enhance the financial infrastructure of the company. In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of clients and customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the local industries.

More information on the OnTop x dLocal partnership

According to the Financial Stability Board 2023, fees for international payments currently represent an average of 1.5% for corporate transactions, as well as 6.3% for remittances. At the same time, such payments can take several days to reach their recipient customers, which represents a challenge for individuals who need funds in an urgent manner.

Partnering with dLocal is expected to enable Ontop to offer a secure and inclusive financial experience across the world. In addition, the integration of efficient, low-cost, and secure payment services is crucial to the mission of simplifying global payroll processes, while also delivering users the possibility to access timely and fair compensation.

Furthermore, the collaboration underscores dLocal’s commitment to financial inclusion and innovation for customers and businesses in high-growth markets. The companies will focus on expanding their suite of services, while also providing improved payment tools that cater to the diverse needs of remote workers across the world.