LatamList – dlocal, a cross-border payments service for emerging markets, announced a new partnership with Azimo, a global money transfer firm, to improve cross-border payments to Colombia.
dlocal is a 360 payments platform that facilitates cross-border payments for emerging markets. The platform handles mass online payments for over 450 merchants across more than 26 countries in Latin America, APAC, the Middle East, and Africa.
Azimo is Europe’s leading digital money transfer service, based in London. The platform operates in over 200 countries across the world offering the fastest, easiest, and best-value method for sending money digitally.
According to the World Bank, Colombia received $6.8B in remittance during 2019, equivalent to roughly 2% of the country’s GDP. The partnership will enable migrants in Europe and Australia to transfer money to any bank in Colombia (including Davivienda, Banco de Bogota, and Banco de Occidente) in a fast and cost-effective transaction.
“As geopolitics continues to reshape the global economy, money transfer services like Azimo need to be as flexible as their customers. That means faster, cheaper services that work irrespective of national borders,” said Dora Ziambra, COO at Azimo.
Azimo customers will find an easier user experience with fewer forms and faster transactions. Transactions submitted before 1pm GMT will arrive in the recipient’s bank account on the same day.
“We’re thrilled to be partnering with Azimo to speed up and expand their remittance services to Colombia. The need for fast and cost-efficient remittance services is critical regardless of geography, and we look forward to growing our partnership with Azimo to help them further their goal of creating a better way to share money around theWorld,” said Michel Golffed, Vice President of Growth for dLocal.