URUGUAY'S dLocal ON REIMAGINING PAYMENT SYSTEMS FOR THE GLOBAL SOUTH

Laura Gaviria interviews Sergio Fogel, president, co-founder, and chief strategy officer of Diloco, about the company's origins in Uruguay and its mission to facilitate payments in emerging markets. Sergio explains Diloco's role in bridging the gap between large global companies and markets with unique payment systems, citing examples in e-commerce, ride-sharing, and the gig economy. He details the regulatory landscape of cross-border payments and Diloco's approach to global expansion, including educating regulators. Sergio highlights the innovative payment systems in Brazil (PIX) and India (UPI). He discusses the challenges of data localization and the increasing regulatory burden on transactions. Sergio shares Diloco's use of stablecoins for efficiency and AI for fraud prevention, AML, and process automation, aiming to replace 100 FTEs with AI this year. He expresses optimism about Saudi Arabia's digital transformation and Diloco's plans for direct presence in the region. Laura concludes by thanking Sergio for sharing his story as a successful entrepreneur from Latin America.