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HomeTech CertificationsGoogle IT Support Professional CertificateAs Part of its Global Development Drive, dLocal, Latin America's Stripe, Obtains...

As Part of its Global Development Drive, dLocal, Latin America’s Stripe, Obtains a UK Licence

London— As part of its ongoing global expansion, Uruguayan payments provider dLocal has obtained a U.K. payment institution licence, expanding its range of regulatory authorisations.

British financial services regulator the Financial Conduct Authority has granted the emerging markets-focused fintech an authorised payment institution licence, the company informed CNBC. It would be able to begin enrolling UK merchants for the first time as a result.

DLocal will use a local company called Larstal Limited to onboard merchants in the United Kingdom. Before, the FCA’s restrictions prevented the subsidiary, which does business in the UK under the name dLocal Opco UK, from onboarding clients locally. Local stated that the limitations were brought about by the United Kingdom’s decision to leave the European Union.

Pedro Arnt, the CEO of dLocal, told CNBC that he believes the company will differentiate itself from domestic payment tech competitors like Worldpay and Checkout.com because of its emphasis on developing markets in regions like Asia, Africa, and Latin America.

Source (CNBC)

SourceCNBC
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