Remittance company Panda Remit has teamed up with cross-border payment platform dLocal to expand its payout capabilities within African markets.  

The alliance seeks to address challenges such as high transaction fees, delays, and accessibility issues. 

According to dLocal, the collaboration enables Panda Remit to provide recipients in “critical” African geographies with “more efficient” and quicker solutions.  

This move is said to support market expansion, while lowering transaction costs. 

Through this partnership, Panda Remit will provide access to various local and alternative payment methods, including bank transfers and mobile wallets such as M-Pesa, Orange, and Airtel, across markets in North, West, and East Africa 

The alliance is expected to result in faster money transfers, reduced costs, and improved security and flexibility for both senders and recipients.  

Panda Remit head of region Alfred Yang said: “Partnering with dLocal enables us to expand our presence across Africa, offering reliable payout options that meet the diverse needs of our users. 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 stated: “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.” 

Earlier in the month, dLocal expanded its partnership with PayPal, aiming to offer businesses improved payment processing capabilities in over 40 emerging markets.