dLocal's Emerging Perspective - October 2024
Welcome to October’s Emerging Perspective!
October’s issue holds updates on Brazil’s travel industry and the ongoing growth of digital payments in the Philippines. We also deep-dive with Brazil’s Country Manager Martin Oberlander Holz on Brazil’s place in Latin America’s eCommerce ecosystem, and the regulations to be aware of when entering the region.?
And, in case you missed it, check out the latest news from dLocal with FourVenues, USI Money and our Gold award for "Best Cross-Border Payments Platform".
Stay informed, and start reading ??
Regional news ??
Brazil’s travel industry is flying?
Against the backdrop of Brazil's lowest unemployment rate since 2014 (6.9%), Latin America's largest economy announced a year-on-year increase of 5.7% in airline travelers!?
As a result of a strategy implemented by the Federal Government — passengers on domestic flights increased by 4.3%, and international travelers crossed the 2 million mark.?
Philippines’ continues its digital payments growth
The Bangko Sentral ng Pilipinas (BSP), the Philippines' central bank, has announced the latest achievement for the country's digital finance sector.?
Surpassing the central bank's goal of digitizing 50% of retail payments by 2023, the share of digital payment transactions in the Philippines grew by over 10% to 52.8% in 2023.
Insights from dLocal’s Brazil Country Manager, Martin Oberlander
Brazil is generally three to four years ahead of the rest of Latin America and has the largest eCommerce market in the region. However, it has a complex payment landscape with strict regulations, making compliance and adaptation to regulatory changes a significant challenge.
For instance, the payment chain includes roles like acquirers, sub-acquirers, and commercial establishments. Regulations mandate strict traceability, preventing entities from acting as intermediaries in certain configurations, such as with digital wallets. Understanding these complex regulations and the requirements of global merchants is essential in this context.
?Lately, the market is shifting from traditional card schemes to Pix, a real-time payment platform, which has spurred the emergence of non-conventional credit facilities targeting end-users. This change is critical to developing a complete payment solution that meets the evolving demands of the market.
dLocal highlights ??
2024’s best cross-border payments platform
We have clinched the Gold award for "Best Cross-Border Payments Platform" at Juniper Research's Future Digital Awards 2024! The Future Digital Awards' Fintech and Payments Awards categories highlight the most innovative and impactful contributions in the fintech and payments industries.
Simplifying payments in entertainment with Fourvenues’ global expansion
This collaboration will support Fourvenues' expansion into Latin America and Southeast Asia by providing alternative payment methods such as PSE and Nequi in Colombia, OVO and ShopeePay in Indonesia, and FPX in Malaysia, simplifying local management and enabling seamless transactions.
Prioritizing efficiency, competitive rates and fast processing times with USI Money
This partnership will enable USI Money to facilitate seamless cross-border transactions by allowing direct transfers into bank accounts and digital wallets, such as Bkash and Nagad in Bangladesh, M-Pesa and Airtel in Kenya and Uganda, and UPI in India.
Until then, check out dLocal's Emerging Markets Payments Handbook. This comprehensive guide covers all aspects of payments in 12 emerging markets.
Want to talk more about cross-border payments in emerging markets? Get in touch, and we’ll be happy to chat with you!