The Ghanaian subsidiary of Uruguayan payments company dLocal has secured an Enhanced Payment Service Provider (EPSP) licence from the Bank of Ghana, allowing it to operate more of its payments business locally.
The licence allows dLocal Ghana to provide local payment collections, merchant acquisitions, mobile-money acceptance, bank-transfer collections and local payouts through bank accounts and mobile-money wallets. The company had previously facilitated Ghana-related payment flows through its global platform and regulated third-party partners.
Ghana’s mobile money market processed GH¢4.54 trillion ($397 billion) in transactions in 2025, up 50.8% from the previous year, according to Bank of Ghana data. Internet banking transactions also rose to 47 million in 2025 from 26 million in 2024, highlighting the scale of the digital payments market dLocal is seeking to serve.
“dLocal’s primary goal is to simplify the digital lives of Ghanaians by providing a more reliable and seamless way to transact,” Oluwademilade Egbeyemi, Regional Expansion Manager (West Africa) for dLocal, said in a statement. “By operating under the guidance of the Bank of Ghana, we are building an infrastructure that gives people the confidence that their money is moving safely, whether they are a local business owner reaching new customers or a consumer paying for essential services.”
dLocal entered Ghana in 2020 as part of an African expansion that also took it into Kenya, Senegal and Cameroon. The company operates as a payments infrastructure layer between a global merchant and local payment systems. Merchants integrate with dLocal through an Application Programming Interface (API), while the company connects them to local payment methods such as cards, mobile-money wallets and bank transfers, and manages the payment flow and settlement.
Its payout infrastructure allows merchants to send money to Ghanaian bank accounts and mobile-money wallets. The company calls this model “One dLocal,” allowing merchants to operate across emerging markets without building separate payment integrations in each country.
dLocal makes money primarily by charging merchants for payment processing, payouts, and settlement, with fees varying by payment method, transaction type, volume, risk profile, and settlement requirements, the company said.
The new licence gives dLocal Ghana greater control over its local operations and could make it easier to build relationships with Ghanaian banks and other payment partners.
“This is not simply a change in branding or corporate structure,” Eric Kortey, Country Manager, Ghana at dLocal, told TechCabal. “It is a meaningful step in building a more reliable, transparent and locally accountable payments infrastructure in Ghana.”
dLocal joins a list of African payment companies seeking direct regulatory access to Ghana. Paystack and Flutterwave hold similar enhanced payment licences, while Fincra secured its Payment Service Provider Licence (Enhanced Category) from the Bank of Ghana in May.
The company said it will roll out the services covered by the licence based on operational readiness, partner connectivity and regulatory requirements, rather than launching them all at once.
The move comes as dLocal expands its African footprint. In February, the company completed a $23.7 million asset deal involving AZA Finance, a Kenya-based cross-border payments company.
dLocal had announced plans to acquire AZA Finance in 2025, but regulatory complications delayed the transaction and led to a deal for three specific assets: Mint Code Solutions, a Cameroonian payments entity; intellectual property linked to the AZA Finance brand; and customer relationships across AZA Finance’s African payments business. The deal gave dLocal additional infrastructure in Cameroon and assets that could support its expansion across Francophone Central Africa.
For now, dLocal’s priority is to deepen its Ghana business by improving local connectivity, supporting merchants and building relationships with consumers, banks, mobile-money operators and regulators. It continues to evaluate opportunities elsewhere in West Africa.
“Ghana is an important market in its own right, and the EPSP license reflects our long-term commitment to its digital economy,” Kortey said. “dLocal operates across a number of African markets, and we continue to evaluate opportunities across West Africa. We do not view one country’s license as an automatic substitute for local regulatory authorisation elsewhere. Any expansion will be market- specific and guided by local demand, regulatory requirements, partner relationships, and the needs of merchants.”
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