Recurring Payments with Less Friction and Operational Burden: The Belvo–dLocal Partnership

Mexico City, October 20, 2026 - Belvo and dLocal have formed a partnership to expand the use of bank direct debit within the payment infrastructure available to businesses that process recurring payments.

The announcement reflects a broader shift in digital payment trends: for years, the focus was on digitizing payment acceptance; today, the priority is increasingly to collect payments more effectively, sustain recurring revenue, and reduce operational friction in payments that need to be made every month.

The partnership addresses a concrete need.

In Mexico, the digital ecosystem has grown in scale, but also in complexity. The use of cards and electronic payment methods has grown steadily, while demands are increasing on merchants, platforms, and service companies that depend on renewals, memberships, or automated charges.

Between January 2025 and December 2025, debit- and credit-card payments totaled 12,118.9 million transactions in the country, with a real value of 6.9 trillion pesos, according to Banco de México.

That growth, however, does not by itself solve one of the main challenges facing digital businesses: what happens when a payment does not go through, when a renewal fails, or when a company needs to diversify its collection strategy so it does not depend on a single transaction channel.

In recurring-revenue markets, efficiency is not determined solely at the initial checkout. It also depends on the ability to sustain collections over time, with less friction for users and less operational burden for businesses.

That is the rationale behind the Belvo–dLocal partnership.

dLocal operates a payments network focused on emerging markets, with more than 1,000 payment methods across more than 60 markets. In 2025, it processed total payment volume (TPV) of US$41 billion, up 60% from the previous year, and generated more than US$1 billion in revenue. It also handled approximately 3.5 billion pay-in transactions and facilitated payments to more than 100 million people, according to its 2025 financial results communications.

Belvo, for its part, has developed a direct debit infrastructure in Mexico for collecting payments from bank accounts, with use cases focused on recurring payments, automated collections, and cost reductions compared with other payment methods.

The significance of this partnership becomes clearer in light of the evolution of Mexican e-commerce.

Mexico’s National Institute of Statistics and Geography (INEGI) reported that in 2023, the gross value added of e-commerce exceeded 2 trillion pesos. If treated as an independent activity, that amount would make e-commerce one of the largest sectors of the national economy. In addition, services accounted for 51.1% of the total, a share that makes the discussion around recurring payments and continuity of collections especially relevant.

That figure is important because many of the fastest-growing digital sectors—subscriptions, memberships, platforms, financial services, insurance, and other recurring-payment models—share the same challenge: generating revenue consistently.

In this context, bank direct debit is beginning to take on a more strategic role. As well as providing an additional collection option, it is better suited to an economy in which customer retention and collection quality matter as much as initial conversion.

Belvo has pursued precisely this approach in Mexico through its bank direct debit solution, which enables recurring payments to be collected from any bank account in the country. The company has also documented how this type of infrastructure can help optimize collections and reduce operational costs in business models where repeat payments are central.

“In Mexico, the conversation around digital payments is entering a more mature phase. The challenge is no longer simply to enable more payment methods, but to build more robust collection systems that are better adapted to users’ actual behavior. This partnership with dLocal responds to that need: providing infrastructure that helps businesses reduce friction, diversify their collection channels, and better sustain recurring revenue,” said Federica Gregorini, Belvo’s General Manager in Mexico.

A partnership that reflects a broader trend across Latin America

The Belvo–dLocal partnership is also part of a broader regional trend: localizing payments as a condition for improving conversion and the user experience.

In its LATAM Retail & Payments 2025 study, dLocal reported that more than 94% of Latin American consumers consider it important or extremely important to find accessible payment options, and that nearly 70% would be unlikely to complete a purchase if a platform did not offer payment methods aligned with their local preferences.

With this partnership, the two companies aim to lay the groundwork for a new phase in which bank direct debit in Mexico is no longer seen as a peripheral mechanism, but becomes part of the infrastructure businesses need to grow more resiliently in the digital economy.

About dLocal

dLocal (NASDAQ: DLO) develops financial technology for the markets of the future, connecting global companies with billions of consumers in high-growth markets across Africa, Asia, the Middle East, and Latin America.

Through its “One dLocal” concept—a single direct API, platform, and contract—global companies can accept payments, send payouts, and settle funds globally without having to manage multiple local entities and integrations.

For more information, visit www.dlocal.com.

About Belvo

Belvo is Latin America’s leading open finance data and payments platform. It was founded in May 2019 by Pablo Viguera and Oriol Tintoré.

The company enables financial institutions and large businesses to access and interpret end users’ financial data and initiate account-to-account payments in Brazil and Mexico, with the aim of driving more efficient, secure, and inclusive financial products.

Belvo’s platform currently serves more than 150 clients, including some of the region’s largest and most innovative players in the financial sector, such as banks, credit companies, insurers, telecommunications operators, and payment service providers.

Belvo is backed by some of the world’s leading venture capital funds, including Kaszek, Quona Capital, Future Positive, Kibo Ventures, and Y Combinator, as well as global financial-sector innovators such as Visa and Citi. The company has raised a total of US$71 million in funding.