Uphold’s Topper and dLocal Innovate Payment Methods Across Latin America
dLocal, a leading cross-border payment platform, has announced a strategic partnership with Topper, the fiat on-ramp service developed by Uphold. This collaboration aims to integrate dLocal’s payment processing expertise with Uphold’s versatile financial solutions to expand financial access in emerging markets.
Through our partnership with Topper by @UpholdInc we are improving payment flexibility in emerging markets driving financial inclusion and empowering users with convenience across Latin America in Brazil, Mexico, Chile, and Colombia. https://t.co/9ORjXvT5kipic.twitter.com/7OhcaFkT9F
According to the World Bank’s Global Findex Database 2021, only 28% of Latin Americans own a credit card. In contrast, a significant majority—between 60% and 89%—utilise alternative payment methods (APMs) that align with local preferences. The new partnership will address this gap by offering tailored payment solutions.
Expanding Payment Options in Latin America
The partnership is particularly focused on Latin America, where dLocal’s extensive network will support Topper’s entry. This expansion includes local payment options in key markets such as Brazil and Mexico, with additional services planned for Chile and Colombia. The collaboration aims to overcome the limitations of relying on a single payment method or currency, providing users with more versatile financial solutions.
“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,” said Robin O’Connell, CEO of Enterprise at Uphold. This sentiment is echoed by Justo Benetti, SVP Head of Americas at dLocal, who highlighted the importance of introducing APMs to cater to the diverse needs of users in these rapidly growing markets.
Topper: Simplifying Payments with Enhanced Flexibility
Uphold developed Topper, a web3 payment tool designed to simplify fiat-to-crypto transactions and support a wider array of digital assets than its competitors. The platform aims to increase transaction approval rates and revenue by reducing declines, thus providing a more seamless payment experience.
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Uphold’s commitment to transparency and regulation underpins its service offerings. With operations spanning over 140 countries, Uphold’s “Anything-to-Anything” model ensures optimal execution and liquidity through smart routing across trading venues.
dLocal: Bridging the Payment Gap
dLocal, known for powering local payments in high-growth markets, provides a comprehensive solution for global merchants looking to tap into emerging markets. Its “One dLocal” model simplifies payment processing by consolidating multiple local entities and payment methods into a single platform. This streamlining allows for more efficient and inclusive financial interactions.
Conclusion
The partnership between dLocal and Topper by Uphold represents a significant step forward in enhancing payment flexibility and financial inclusion in emerging markets. By integrating local payment methods with innovative financial services, this collaboration aims to unlock new opportunities for economic growth and accessibility.
