Topper by Uphold and dLocal join forces to expand payment flexibility in emerging markets
The alliance will drive economic growth in emerging markets by offering local payment options.
Montevideo, Uruguay, August 21st, 2024 - 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.
“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.”
About Topper
Topper, the easy fiat on-ramp with higher approval rates, is a quick-to-implement web3 payment tool that lets crypto projects process more of their customers’ payments - supporting twice as many digital assets than its competitors. The Topper payment widget is built to simplify the payment process, accept more currencies and deliver higher approval rates, resulting in fewer declines and more revenue. Developed by Uphold, the web3 financial platform, Topper is a reliable, regulated and trusted payment system.
About Uphold
Named Uphold the Best Crypto Exchange in the UK by Forbes Advisor, Uphold is committed to making web3 easy. As a web3 financial platform, Uphold serves over 10 million customers in more than 140 countries. It provides businesses and consumers with easy access to digital assets and services. Uphold’s unique “Anything to Anything” interface gives end users seamless access to and between digital assets and national currencies and precious metals. Uniquely, Uphold smart routes orders across 30 trading venues delivering optimal execution and superior liquidity to customers. Uphold never loans out customer assets and is always 100% reserved. The company has pioneered radical transparency and uniquely publishes its assets and liabilities every 30 seconds on a public website (https://uphold.com/en-us/transparency).
Uphold is regulated in the U.S. by FinCen and State regulators; and is registered in the UK and Canada with the FCA and FINTRAC respectively and in Europe with the Financial Crime Investigation Service under the Ministry of the Interior of the Republic of Lithuania. To learn more about Uphold’s products and services, visit uphold.com.
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.