Following this announcement, the partnership between the cross-border payment platform dLocal and the payroll and payments firm Papaya Global is set to enable the companies to combine their suite of solutions and expertise. The initiative is expected to allow businesses to handle workforce payments around the globe, including transactions made across emerging markets.
In addition, the strategic deal will focus on allowing worldwide organisations to pay their employees in several regions globally, on time, and in their local currencies. Mutual customers of dLocal and Papaya will also be given the possibility to pay their partners, employees, freelancers, and suppliers, while also simplifying and making the overall checkout process more efficient.
dLocal represents a cross-border payment platform that focuses on delivering local transactions in high-growth markets, while also connecting global enterprise traders with several emerging market customers across the regions of Africa, Asia, and Latin America. Papaya Global was developed in order to enable organisations to hire around the world and pay locally, as well as to deliver full compliance and liability coverage and support all employment models.
Throughout this strategic partnership, dLocal and Papaya Global will prioritise the process of delivering a holistic solution, in which payroll and payments processes are fully and securely streamed. This procedure is expected to enable fast and accurate transactions to customers, which will also be fully compliant with the ever-evolving local regulations and rely on a fully protected cross-border money transfer infrastructure. At the same time, both companies will focus on meeting the needs, preferences, and demands of customers and improve their overall payment experience.
According to the official press release, the partnership between dLocal and Papaya Global is currently live in Latin America (including the regions of Chile, Colombia, and Mexico), as well as Asia (including Indonesia and Vietnam) and Africa. Both companies will focus on their strategy of expanding their collaboration to additional territories in the near future.
By leveraging dLocal’s solution which was tailored to specific emerging markets, mutual customers and clients of both firms will be enabled to easily execute payments with full compliance, irrespective of the overall transaction ecosystems. In addition, according to the press release, in current markets where clients are utilising the solution, there were observed significant increases in payment volume, a reduction of user services issues, as well as delivery rate improvements. For more information about dLocal, please check out their detailed profile in our dedicated, industry-specific Company Database.
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