Uruguayan payments firm dLocal has acquired a UK payment institution license from the Financial Conduct Authority, enabling it to onboard UK merchants for the first time. The company, specializing in cross-border payments for emerging markets, aims to differentiate itself from domestic rivals by serving businesses with operations in Latin America, Africa, and Asia. dLocal CEO Pedro Arnt told CNBC the firm will target both domestic UK businesses and global companies with a UK presence.
DLocal, a Latin American payments firm focused on emerging markets , has acquired an authorized payment institution license from the Financial Conduct Authority.
The emerging markets-focused fintech told CNBC it had acquired an authorized payment institution license from the Financial Conduct Authority, which is Britain's financial services regulator. That would allow it to start onboarding U.K. merchants for the first time. "The differentiating factor for us when we think of our U.K. base of merchants is that the geographies where we serve them, and those are the only geographies we work," Arnt said in an interview. He added that dLocal is also targeting global merchants that have a U.K. presence.
Arnt said dLocal has already been expanding its U.K. footprint, with a number of its senior executives — like Chief Operating Officer Carlos Menendez and Chief Revenue Officer John O'Brien — based in London. Globally, dLocal currently has over 1,000 employees.
Payments Fintech Emerging Markets Dlocal UK Expansion
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