The strategic partnership marks a significant step in improving remittance infrastructure in North, West, and East Africa by offering tailored solutions that support local and alternative payment methods.

Remittances are a vital lifeline for many people in emerging markets. However, outdated and inefficient systems have often made international money transfers slow, expensive, and inaccessible. In Sub-Saharan Africa, remittance costs are the highest in the world, with fees averaging 8.72% for sending just $200, according to the World Bank. More than half the adult population in the region also lacks access to formal financial services, compounding the need for effective solutions.

By integrating with dLocal’s extensive payment network, Panda Remit is addressing these challenges head-on. The partnership enables the remittance firm to significantly reduce transaction costs and improve payout speeds, all while enhancing reliability for end users. With access to mobile wallets and bank transfers—including services like M-Pesa, Orange, and Airtel—across the continent, Panda Remit can now offer faster, more secure transfers tailored to local needs.

Panda Remit head of region Alfred Yang, “Partnering with dLocal enables us to expand our presence across Africa, offering reliable payout options that meet the diverse needs of our user. At Panda Remit, it’s crucial to simplify international cross-border remittances and provide an affordable, efficient way for users to send and receive funds.”

dLocal head of China Justin Goh added, “Seamless remittances are a lifeline for millions in emerging markets, and enabling fast, cost-effective cross-border payments is at the core of what we do. By partnering with Panda Remit, we’re driving their expansion of financial services across Africa, enabling faster, more secure fund transfers that not only benefit individuals but also strengthen the remittance landscape.”

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