ProviderBNPL, Bank TransferUruguaySince 2016Listed Sept 2026dlocal.comWebsite
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dLocal

Nasdaq-listed (DLO) processor for emerging markets in Latin America, Africa and Asia; US$40.8bn of volume in 2025 across 44 countries and 160-plus local pay-in methods.

dLocal is an emerging-markets payment processor built in Montevideo in 2016 by Andrés Bzurovski and Sergio Fogel, now run by chief executive Pedro Arnt. The holding company, DLocal Limited, is registered in the Cayman Islands and has traded on Nasdaq as DLO since June 2021. It handles collections and payouts for large international merchants, naming Shein, Didi, Uber, Spotify and Worldpay among them, and processed US$40.8bn of volume in 2025 on revenue of US$1.09bn.

The pitch is one API, one contract and one platform for markets where international cards handle a minority of spending. Its annual report puts coverage at 44 countries with more than 160 pay-in methods, while marketing claims 60-plus markets and 1,000-plus methods; the developer documentation carries 51 country pages. Pix and Boleto in Brazil, SPEI and OXXO in Mexico, PSE and Nequi in Colombia, M-Pesa and Airtel Money in East Africa, OPay and Paga in Nigeria, UPI in India, GCash in the Philippines and JazzCash in Pakistan all have documented payment codes.

Licensing is unusually well documented. dLocal Ltd holds Maltese electronic money and financial institution authorisations that passport across the EEA; dLocal Opco UK Ltd was authorised by the FCA as a payment institution on 17 December 2024 under firm reference 1007955; dLocal Corp. LLP is a FinCEN-registered money services business. The group reports more than 30 licences and registrations, adding Brazil, Nigeria, Kenya, Rwanda, Tanzania, Uganda, Honduras, the Philippines and the UAE in recent years. Payouts reach 60-plus markets, funded in dollars, euros or stablecoins.

The target is enterprise scale: merchants processing over US$6m a year accounted for 99% of 2025 volume, and pricing at that tier is not published, although the self-serve dLocal Go product does carry a rate card. Settlement timing is configured per merchant rather than fixed, and about half of revenue still comes from Brazil, Mexico and Argentina, so local foreign-exchange rules matter more than the country count.

What dLocal costs

dLocal quotes per merchant. What you are offered depends on your volume, your industry, the countries you sell in, your card mix and your risk profile — so a published headline rate would not be your rate. Ask them for a quote against your own numbers.

Settlement
Configurable per merchant: automatic on a schedule or balance threshold, or on request

Licences and regulation

Authorisations dLocal holds, as published by the provider or regulator. Check the register entry before relying on it.

Malta Financial Services Authority (MFSA)
Electronic Money Institution and Financial Institution (Dlocal Ltd), passported across the EEA under PSD2; the reference is the Maltese company registration number quoted by dLocal, not a licence number · Malta · MT · C77538
Register
Financial Conduct Authority (FCA)
Authorised Payment Institution (DLOCAL OPCO UK LTD, company number 14018931), authorised 17 December 2024 · United Kingdom · GB · 1007955
Register
FinCEN
Money services business registration (Dlocal Corp. LLP) · United States · US · 31000287499547
Register
Central Bank of Nigeria
Licensed operations in Nigeria, held through Demerge Nigeria; also registered as an AML/CFT reporting entity · Nigeria · NG
Register
Banco Central do Brasil
Licensed to operate in Brazil and registered as a sub-acquirer · Brazil · BR
Register
Banco de México / CNBV
Registered as an aggregator in Mexico · Mexico · MX
Register
Banco Central de la República Argentina (BCRA)
Registered payment service provider offering payment aggregator services (dLocal Argentina S.A.) · Argentina · AR
Register
South African Reserve Bank / PASA
Registered as a system operator and third-party payments provider · South Africa · ZA
Register
Superintendencia de Banca, Seguros y AFP (SBS)
Registered as a payment facilitator in Peru · Peru · PE
Register
Bangko Sentral ng Pilipinas
Money services business licence for remittance flows, plus registration as an operator of payment systems; announced 20 June 2025 · Philippines · PH
Register
UAE financial regulator (authority not named in the announcement)
Payment services licence covering cross-border pay-ins and payouts; announced 20 June 2025 · United Arab Emirates · AE
Register
Central Bank of the Republic of Türkiye
Authorisation to conduct cross-border payments through Lidio Payment Services; announced 20 June 2025 · Türkiye · TR
Register

What you need to onboard

Bank Statement / Bank Account · Company Details · Company Documents · Director ID · Enhanced KYB & Due Diligence · Personal Details

Features

3D Secure · Chargeback Management · Crypto Settlement · FX Conversion · Fraud Prevention · Mass Payouts · Multi-Currency · Network Tokenisation · Partial Refund · Payouts · Recurring Payments · Refunds · Reporting & Analytics · Sandbox / Testing Environment · Tokenisation · Webhook Notifications

What the last check found

Recheck against dLocal's own documentation, which is unusually specific: it publishes a page per country, for payins and again for payouts, so the footprint can be read directly rather than inferred.

The two footprints are not the same country list, and that is the finding. Payins cover 51 countries. Payouts cover a set that includes Algeria, Burkina Faso, Ethiopia, Mali, Mozambique, Togo, China and Hong Kong, where dLocal will send money but does not document collecting it; the payins list in turn includes Botswana, Lesotho, Liberia, Sierra Leone, Guinea-Bissau, Madagascar, Chad, Niger, Zambia and Zimbabwe. The countries recorded here are the union of both, and a merchant should check which direction it needs on the country page rather than assume a country in this list does both.

No currencies are claimed. dLocal publishes no supported-currency list at all — the nearest thing in its documentation is an exchange-rate endpoint — so the existing currency rows are left alone rather than being backfilled from a country-by-country reading the documentation does not actually support.

Methods are the payin and payout types dLocal documents globally: cards, bank transfer, cash, wallets, virtual accounts, Apple Pay, Google Pay, Pix including Pix Automatico, Colombia's Bre-B, Brazilian food vouchers, mobile money across Africa, and crypto payouts. The per-country method detail sits in those 51 country pages and is finer than this schema records.

Checked against dLocal’s own documentation on 20 October 2026. Coverage changes; confirm anything you are about to build on.

Pricing, in detail

Enterprise pricing is negotiated and not published. The 2025 annual report describes the charging model: a processing fee per approved transaction (fixed amount or percentage), an FX service fee where currency conversion and expatriation are involved, plus installment, chargeback and refund fees and, in some contracts, set-up, minimum monthly, maintenance and small-transfer fees. The self-serve dLocal Go product for smaller sellers does publish a rate card (per-country, per-method, excluding local taxes) at dlocalgo.com; reported figures from that list include Brazil cards 2.99%, Pix 0.99% and Boleto US$0.50, and Mexico cards 2.49% + US$0.20. Those dLocal Go numbers came from the published pricing PDF via secondary readings and were not confirmed page by page, so treat them as indicative. dLocal Go also charges US$1 on refunds under US$10 and nothing above that.

Is dLocal regulated?

dLocal holds authorisations from Malta Financial Services Authority (MFSA), Financial Conduct Authority (FCA), FinCEN, Central Bank of Nigeria, Banco Central do Brasil, Banco de México / CNBV and 6 more. Always check the regulator’s public register before relying on it.

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Sources · 19

  1. DLocal Limited Form 20-F for the year ended 31 December 2025 (filed 18 March 2026) · sec.govcountriesmethodslicensingpricingthe companyUsed for company (founding, Cayman incorporation, Montevideo HQ, TPV US$40.8bn, revenue US$1,093.6m, 44 countries, 160+ pay-in and 939 pay-out methods, 760+ merchants, 1,274 FTEs), regulation (licence and registration list), fees model, revenue concentration, legal proceedings
  2. dLocal - Regulatory disclosure · dlocal.comlicensingUsed for regulation (Dlocal Ltd MFSA C77538, Dlocal Corp. LLP FinCEN 31000287499547, Dlocal Opco UK Ltd, Demerge Nigeria)
  3. FCA Financial Services Register - Payment Institutions (CSV, data to 11 September 2026) · register.fca.org.uklicensingUsed for regulation (FRN 1007955, Authorised Payment Institution, effective 2024-12-17)
  4. dLocal announces expansion to UK merchants with new Authorised Payment Institution licence (7 January 2025) · dlocal.comlicensingthe companyUsed for regulation (UK entity and company number), merchant onboarding in the UK
  5. dLocal secures payment licences in the UAE, Turkey and the Philippines (20 June 2025) · dlocal.comlicensingUsed for regulation (UAE, Turkey via Lidio, Philippines MSB), 30+ licences figure
  6. dLocal Docs - Coverage (payment methods by country) · docs.dlocal.comcountriesUsed for countries (51 documented country pages across Africa & Middle East, Asia and Latin America)
  7. dLocal Docs - Brazil (and the Mexico, Argentina, Colombia, Chile, Peru, Ecuador, Uruguay, Bolivia, Costa Rica, Guatemala, Panama, Paraguay, Dominican Republic country pages) · docs.dlocal.comcountriescurrenciesmethodsUsed for methods and currencies (Latin America)
  8. dLocal Docs - Nigeria (and the Kenya, Ghana, Tanzania, Uganda, Rwanda, Ivory Coast, Senegal, South Africa, Egypt, Morocco, Zimbabwe, Saudi Arabia, Turkey country pages) · docs.dlocal.comcountriescurrenciesmethodsUsed for methods and currencies (Africa and the Middle East)
  9. dLocal Docs - India (and the Indonesia, Philippines, Malaysia, Thailand, Vietnam, Pakistan, Bangladesh, Japan country pages) · docs.dlocal.comcountriescurrenciesmethodsUsed for methods and currencies (Asia)
  10. dLocal Docs (v2.0) - Country Reference · docs.dlocal.comcountriescurrenciescapabilitiesUsed for currencies, and the wider payout-only country list
  11. dLocal - Payins · dlocal.comcountrieswho they onboardcapabilitiesUsed for features (3DS per country, network tokenisation, smart routing, auto-retry, fraud checks, chargeback defence, reconciliation), industries, marketing coverage claims
  12. dLocal - Payouts · dlocal.comcountriescurrenciescapabilitiesUsed for payouts (60+ markets, funding in USD, EUR or stablecoins), settlement currencies
  13. dLocal Docs - Plugins and wallets · docs.dlocal.comintegrationsUsed for integrations (Shopify, Tiendanube, Google Pay, payment links)
  14. dLocal Go - Coverage · dlocalgo.compricingUsed for fees and coverage of the self-serve SMB product
  15. dLocal Go Help Centre - Fees · helpcenter.dlocalgo.compricingcapabilitiesUsed for fees (commission per successful transaction, refund fees)
  16. dLocal refutes short-seller report and announces share buyback (20 December 2022) · dlocal.gcs-web.comthe companyUsed for notes (company response to the November 2022 Muddy Waters report)
  17. dLocal Docs — payment methods by country · docs.dlocal.comcountriesmethodsUsed for the 51 payin countries across Africa and the Middle East, Asia and Latin AmericaChecked 20 October 2026
  18. dLocal Docs — payout country requirements · docs.dlocal.comcountriesmethodscapabilitiesUsed for the payout country list, which differs from the payin list and adds Algeria, Burkina Faso, Ethiopia, Mali, Mozambique, Togo, China and Hong KongChecked 20 October 2026
  19. dLocal documentation index · docs.dlocal.comcountriescurrenciesmethodsUsed for the per-country and per-method pages, and establishing that no supported-currency page existsChecked 20 October 2026

19 sources · last checked 21 October 2026 — each one says which claim it supports.

Compiled from public sources — verify with dLocal before you sign anything. How we compile this · Suggest a correction ·