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dLocal has launched dMoRe, a Merchant of Record product for businesses selling into emerging markets. The service is initially aimed at gaming and software-as-a-service merchants.
The move extends dLocal's offering beyond payment processing into legal, tax and compliance administration for companies seeking to sell directly to consumers in countries where regulation and local operating requirements can slow market entry.
Under the model, dLocal acts as the local seller of record for merchants, combining its payment network with local compliance support and banking relationships. It says this can cut market-entry timelines from as long as a year to as little as eight weeks by removing the need for businesses to set up their own local entities.
The launch comes as international merchants look for easier ways to reach consumers in faster-growing economies across Latin America, Africa and Asia. dLocal pointed to figures showing that emerging markets added 109 million people to the global consumer class in 2024, while 74% of online transactions in Latin America already cross borders.
Operational hurdles
For many companies, the challenge is less about demand than tax rules, legal structures, fraud controls and changing regulation. Citing Deloitte data, dLocal said global enterprises can spend up to 70% of their expansion effort dealing with regulatory hurdles.
The company is targeting sectors where those issues can directly affect customer acquisition and repeat business. Gaming and software subscriptions often rely on local payment acceptance, smooth checkout flows and compliant billing structures, particularly in regulated markets.
dLocal said its new product differs from some Merchant of Record providers because it is built on its own local payment connections rather than layered on top of an external payment processor. Those connections include access to more than 1,000 local payment methods, including Pix in Brazil and GCash in the Philippines.
It also said merchants using its local payment setup have seen conversion gains of up to 25% and local processing volume growth of more than 100%, though it did not provide further details on the customer base or measurement period behind those figures.
Pedro Arnt, chief executive officer of dLocal, outlined the company's rationale for the launch.
"The opportunity in emerging markets has never been difficult to see. The difficult part has been operating locally," Arnt said.
"We've spent more than a decade building the infrastructure that helps global businesses collect payments across these markets. dMoRe builds on that foundation by adding the legal and tax framework businesses need to sell locally, removing what has traditionally been one of the biggest barriers to expansion," he added.
Direct channels
dLocal said the service is also intended to help merchants reach consumers through established local payment ecosystems before the point of sale. That can include in-app placements, push notifications and co-funded campaigns run through payment channels consumers already use.
The emphasis reflects a broader shift among international merchants toward direct-to-consumer sales, particularly as regulatory changes in some markets alter the balance between platforms and publishers. In gaming, where billing relationships and local compliance can shape retention as much as initial acquisition, a Merchant of Record arrangement can let companies launch direct sales channels without building a full local operating presence.
André Canu, vice president of growth at dLocal, described Merchant of Record services as a commercial tool rather than only an administrative one.
"Most merchants think of Merchant of Record as a back-office fix. It's actually a growth lever," Canu said.
"The legal and tax layer removes the barriers to entering a market, but dMoRe goes beyond that. We help merchants reach new users through their own direct channels and launch on infrastructure designed to convert local demand. They don't just enter new markets faster. They enter ready to turn local demand into revenue, without local operations becoming the price of growth," he added.
dLocal, which is listed on Nasdaq, has built its business around helping large international merchants accept payments, make payouts and settle funds in markets where fragmented payment methods and local rules make cross-border commerce more difficult. Its network spans countries across Africa, Asia, the Middle East and Latin America, and the company has promoted a single integration model for merchants operating across multiple jurisdictions.
With dMoRe, dLocal is seeking a larger role in that process by taking on more of the legal and administrative burden attached to local selling. The proposition is likely to appeal most to merchants that already see demand in markets such as Brazil, Nigeria and Indonesia but have delayed entry because of the cost and complexity of setting up a compliant local operation.
The service is backed by dLocal's in-market teams and local partnerships built over more than a decade.