DLocal Limited (DLO): Análisis PESTLE [Actualizado en Ene-2025]

En el panorama dinámico de los pagos digitales, Dlocal Limited emerge como una fuerza transformadora, navegando estratégicamente los complejos terrenos de los mercados emergentes latinoamericanos. Este análisis integral de mano presenta las dimensiones multifacéticas que dan forma al innovador modelo de negocio de Dlocal, explorando cómo la empresa aprovecha la destreza tecnológica, la adaptabilidad regulatoria y las tendencias socioeconómicas para revolucionar las soluciones de pago transfronterizas. Coloque profundamente en los intrincados factores que impulsan el notable crecimiento y posicionamiento estratégico de Dlocal en un ecosistema financiero cada vez más digital.

Dlocal Limited (DLO) - Análisis de mortero: factores políticos

Entorno político en los mercados operativos

Dlocal Limited opera en múltiples países latinoamericanos con diferentes paisajes políticos. A partir de 2024, los mercados operativos clave de la compañía demuestran diversos perfiles de riesgo político.

País	Índice de estabilidad política (0-100)	Puntaje de complejidad regulatoria
Brasil	52.4	6.3/10
México	57.1	5.9/10
Argentina	41.6	7.2/10

Entorno regulatorio

Los desafíos regulatorios clave incluyen:

• Regulaciones complejas de infraestructura de pago digital
• Requisitos variables de cumplimiento fiscal
• Restricciones de transacción transfronteriza
• Mando de protección de datos y privacidad

Mitigación de riesgos políticos

El enfoque estratégico de Dlocal implica el monitoreo continuo de los desarrollos políticos en los mercados operativos.

Estrategia de mitigación de riesgos	Tasa de implementación
Equipos de cumplimiento legal local	92%
Gestión de la relación gubernamental	87%
Respuesta regulatoria adaptativa	85%

Política de pago digital

Las políticas gubernamentales que respaldan la infraestructura de pago digital afectan directamente la efectividad operativa de Dlocal.

• Las regulaciones de pagos digitales de Brasil admiten el 78% de las innovaciones fintech
• El marco regulatorio de México permite el 65% del crecimiento de la transacción digital
• Las políticas de FinTech de Argentina cubren el 55% de las tecnologías de pago emergentes

Indicadores de inversión política

La estabilidad política y el entorno regulatorio influyen significativamente en las estrategias de expansión del mercado de Dlocal.

Mercado	Riesgo de inversión política	Apertura regulatoria
Brasil	Medio	Alto
México	Bajo en medio	Medio-alto
Argentina	Alto	Medio

Dlocal Limited (DLO) - Análisis de mortero: factores económicos

Desempeño económico del mercado emergente

Dlocal sirve a los mercados emergentes de alto crecimiento con las siguientes características económicas:

País	Tasa de crecimiento del PIB (2023)	Penetración de pago digital	Tamaño del mercado de comercio electrónico
Brasil	2.9%	62%	$ 124 mil millones
México	3.2%	57%	$ 86 mil millones
Argentina	-1.7%	51%	$ 42 mil millones

Volúmenes de transacciones digitales

Volúmenes de transacciones digitales en los mercados objetivo:

• Crecimiento de pagos digitales de América Latina: 25.3% anual
• Valor total de transacción digital: $ 387 mil millones en 2023
• Adopción de pago móvil: promedio regional del 48%

Volatilidad monetaria y económica

Divisa	2023 tasa de inflación	Índice de volatilidad monetaria
Real brasileño	4.6%	12.3%
Peso mexicano	5.9%	9.7%
Peso argentino	142.7%	38.5%

Métricas de inclusión financiera

Indicadores de inclusión financiera digital:

• Población no bancarizada en América Latina: 39%
• Usuarios de banca móvil: 54 millones
• Adopción de la billetera digital: 35% de crecimiento regional

Dlocal Limited (DLO) - Análisis de mortero: factores sociales

Objetivos que aumentan la alfabetización digital entre las poblaciones más jóvenes en América Latina

Según el Banco Interamericano de Desarrollo, el 67% de los jóvenes latinoamericanos de 15-24 años utilizan tecnologías digitales para servicios financieros a partir de 2023. La penetración del mercado de Dlocal en este grupo demográfico muestra:

País	Tasa de alfabetización digital	Porcentaje de usuario dlocal
Brasil	72%	18.5%
México	65%	15.3%
Argentina	61%	12.7%

Aborda las preferencias del consumidor para métodos de pago alternativos

Preferencias de pago digital en América Latina a partir de 2023:

• Billeteras móviles: 42%
• Criptomoneda: 12%
• Transferencias bancarias instantáneas: 28%
• Efectivo digital: 18%

Apoya la inclusión financiera para las poblaciones no bancarizadas y no bancarizadas

País	Población no bancarizada	Impacto de inclusión financiera dlocal
Brasil	34 millones	5.2 millones de usuarios
México	28 millones	4.1 millones de usuarios
Argentina	16 millones	2.7 millones de usuarios

Responde a la creciente demanda de soluciones de pago perfectas y amigables para móviles

Volúmenes de transacciones de pago móvil en América Latina para 2023:

• Transacciones totales de pago móvil: $ 187.3 mil millones
• Participación de transacciones móviles dlocal: 14.6%
• Crecimiento de pagos móviles año tras año: 28%
• Valor de transacción móvil promedio: $ 42.50

Dlocal Limited (DLO) - Análisis de mortero: factores tecnológicos

Tecnologías de pago transfronterizas avanzadas

Dlocal apoya el procesamiento de pagos en 39 países de América Latina, Asia y África. La Compañía procesó $ 9.1 mil millones en volumen de pago total en 2022, con una tasa de crecimiento año tras año.

Métrica de tecnología	Rendimiento 2022	2023 proyección
Volumen de pago total	$ 9.1 mil millones	$ 13.6 mil millones
Velocidad de transacción transfronteriza	2-3 segundos	1-2 segundos
Plataformas de integración de pagos	37 plataformas únicas	42 plataformas únicas

AI y aprendizaje automático para la detección de fraude

El sistema de detección de fraude impulsado por la IA de DLOCAL analiza 4,2 millones de transacciones mensualmente, con una tasa de prevención de fraude del 99,7%.

Métrica de detección de fraude	Datos de rendimiento
Transacciones mensuales analizadas	4.2 millones
Tasa de prevención de fraude	99.7%
Modelos de aprendizaje automático	23 modelos activos

Innovaciones de integración de pagos

DLOCAL admite más de 250 métodos de pago en los mercados globales, con capacidades de integración de API para 42 plataformas de comercio electrónico diferentes.

Blockchain y tecnologías de criptomonedas

Dlocal admite transacciones de criptomonedas para 12 monedas digitales diferentes, con volúmenes de transacciones que alcanzan $ 340 millones en 2022.

Métrica de criptomonedas	Datos 2022
Criptomonedas compatibles	12 monedas
Volumen de transacción de criptomonedas	$ 340 millones
Plataformas de integración de blockchain	7 plataformas

Dlocal Limited (DLO) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones financieras internacionales

Dlocal Limited opera bajo 12 marcos regulatorios distintos en toda América Latina, asegurando una estricta adherencia a los estándares internacionales de cumplimiento financiero. A partir de 2024, la compañía mantiene el cumplimiento de las regulaciones en Brasil, México, Argentina, Colombia, Chile, Perú y otros mercados emergentes.

Jurisdicción	Estado de cumplimiento regulatorio	Cuerpos reguladores
Brasil	Cumplimiento total	Banco Central de Brasil
México	Cumplimiento total	Comisión Nacional de Banca y Valores
Argentina	Cumplimiento total	Banco Central de Argentina

Estándares de protección de datos y privacidad

Implementos dlocales ISO 27001 Gestión de seguridad de la información con Protocolos de cifrado de 256 bits. La empresa procesa aproximadamente 50 millones de transacciones seguras mensualmente mientras mantiene rigurosos estándares de protección de datos.

Marcos legales en mercados emergentes

Dlocal navega por entornos legales complejos en todo 15 mercados emergentes, con equipos legales especializados que administran requisitos regulatorios específicos de jurisdicción.

Mercado	Desafíos legales específicos	Inversión de cumplimiento
Brasil	Regulaciones fiscales complejas	$ 2.3 millones anualmente
México	Licencias de servicios financieros	$ 1.7 millones anuales
Colombia	Protocolos contra el lavado de dinero	$ 1.5 millones anuales

Licencias y cumplimiento del servicio financiero

Dlocal mantiene Licencias de servicio financiero activo en 12 países, con el gasto anual de cumplimiento de aproximadamente $ 8.6 millones. La compañía ha pasado con éxito 37 auditorías regulatorias independientes en los últimos 36 meses.

• Presupuesto total de cumplimiento regulatorio: $ 8.6 millones
• Número de licencias financieras activas: 12
• Tasa de éxito de la auditoría regulatoria: 100%

Dlocal Limited (DLO) - Análisis de mortero: factores ambientales

Admite transacciones digitales que reducen los procesos financieros en papel

Dlocal Limited procesado $ 9.2 mil millones en transacciones digitales en 2023, reduciendo significativamente los procesos financieros basados ​​en papel en los mercados emergentes.

Año	Volumen de transacciones digitales	Impacto de reducción de papel
2022	$ 7.5 mil millones	Reducción del 38% en el uso de papel
2023	$ 9.2 mil millones	Reducción del 45% en el uso de papel

Promueve prácticas comerciales sostenibles a través de la infraestructura digital

La infraestructura digital de Dlocal admite 327 comerciantes en la implementación de prácticas comerciales sostenibles en América Latina.

Región	Comerciantes apoyados	Iniciativas de sostenibilidad
Brasil	124	Soluciones de pago verde
México	89	Transacciones neutrales en carbono
Argentina	114	Programas de eficiencia digital

Contribuye a una huella de carbono reducida a través de soluciones de pago en línea

Las soluciones de pago en línea de Dlocal se estima que reducirán 42,500 toneladas métricas de emisiones de carbono anualmente.

Fuente de emisión	Reducción de carbono	Impacto equivalente
Transacciones digitales	42,500 toneladas métricas	9,300 vehículos de pasajeros fuera de la carretera
Eficiencia de infraestructura	18,200 toneladas métricas	Consumo de electricidad de 4.100 casas

Se alinea con las tendencias globales de sostenibilidad en el sector de la tecnología financiera

Dlocal invertido $ 4.3 millones en Infraestructura de Tecnología Sostenible en 2023.

Categoría de inversión	Cantidad	Enfoque de sostenibilidad
Infraestructura de tecnología verde	$ 2.1 millones	Centros de datos de eficiencia energética
Desarrollo de software sostenible	$ 1.4 millones	Prácticas de codificación baja en carbono
Cumplimiento ambiental	$ 0.8 millones	Adaptación regulatoria

DLocal Limited (DLO) - PESTLE Analysis: Social factors

The social factors in DLocal Limited's primary markets-Latin America, Africa, and Asia-are not just tailwinds; they are the fundamental drivers of the company's business model. You're looking at a massive, structural shift where a young, mobile-first population is bypassing traditional financial systems entirely, creating a huge addressable market for local payment solutions.

High mobile penetration (upwards of 75% in many markets) driving digital payment adoption

The shift to mobile is the single biggest catalyst for DLocal Limited. In Latin America, for example, 80% of the region's 638 million residents now use smartphones, making the mobile device the primary gateway for digital commerce. This high penetration rate, well above the 75% threshold mentioned, means the infrastructure for digital payments is already in consumers' hands. It's a classic case of leapfrogging: people are skipping over decades of credit card and branch banking infrastructure straight to mobile-native solutions.

This demographic is young, too. The median age in key markets like Colombia, Argentina, and Brazil hovers around 32.5 years, making them digital natives who expect instant, seamless transactions.

Large unbanked or underbanked populations creating demand for local payment methods

The massive population of unbanked and underbanked individuals represents DLocal Limited's core opportunity. Globally, about 1.4 billion adults still lack access to a formal financial account. This isn't just a humanitarian issue; it's a huge, untapped consumer base for global merchants.

In Brazil, a staggering 60 million people do not own a credit card. This is why local payment methods (LPMs) like cash-to-digital options and eWallets are not 'alternatives' but the primary way to pay. In Sub-Saharan Africa, only about 35% of the population has a bank account, which is why mobile money dominates the payment landscape. DLocal Limited's platform directly addresses this gap, turning a financial exclusion problem into a massive commerce opportunity.

Rapid consumer shift toward instant payment schemes (e.g., Brazil's PIX) over traditional methods

Instant payment schemes are rewriting the rules of commerce, and Brazil's Pix is the clearest example. Honestly, this is the biggest near-term trend. By the end of 2025, Pix is projected to account for 44% of the total value transacted in online purchases in Brazil, officially surpassing credit cards at 41%. That's a huge flip in consumer preference in just five years.

The sheer scale is staggering. Pix is on track to process over seven billion monthly transactions in 2025, potentially reaching 7.9 billion in December. The total transaction volume for Pix in 2025 is expected to hit USD 6.7 trillion, representing a 34% year-over-year increase. Latin America as a whole is projected to see a 29% Compound Annual Growth Rate (CAGR) in real-time payments through 2027, the fastest growth rate globally.

Payment Trend Metric (2025)	Value/Projection	Significance for DLocal Limited
Brazil PIX Share of Online Purchase Value	44% (Surpassing Credit Cards at 41%)	Validates DLocal's focus on instant, local payment rails over traditional card networks.
Latin America Real-Time Payments CAGR (Through 2027)	29% (World's Fastest Growth)	Indicates sustained, high-speed volume growth for DLocal's core product offerings.
Global Unbanked Population (Approximate)	1.4 billion adults	Represents the massive, untapped market that requires DLocal's local payment methods for financial inclusion.
Merchant Revenue Increase from Offering PIX	Average 16%	A concrete metric demonstrating the direct revenue benefit DLocal provides to its global enterprise merchants.

Growing demand from global merchants for localized payment experiences to capture new users

Global merchants are realizing that a one-size-fits-all payment strategy is a non-starter in emerging markets. Data shows that payment localization is not a feature but a prerequisite for conversion. Over 94% of Latin American consumers prioritize accessible payment options, and critically, nearly 70% are unlikely to complete a purchase from sites that do not support their local preferences.

This consumer expectation creates a direct, measurable demand for DLocal Limited's services. Merchants who adapt to this social reality see immediate results. Merchants that added Pix as a payment option, for example, saw an average revenue increase of 16% and customer-base growth of 25% within just six months. The overall merchant service providers market is reflecting this demand, projected to grow from $49.9 billion in 2024 to $56.97 billion in 2025, a Compound Annual Growth Rate of 14.2%.

The action here is clear: global expansion requires deep, local payment integration.

• Integrate local wallets, instant payments, and bank transfers.
• Capture the 70% of consumers who demand local options.
• Expect a 14.2% market growth in merchant services this year.

DLocal Limited (DLO) - PESTLE Analysis: Technological factors

Intense competition from regional and global fintechs leveraging superior API-driven platforms.

DLocal operates in a highly competitive arena where technological superiority is the main battleground. Global giants like Stripe, Adyen, and Checkout.com, alongside regional powerhouses, are all pushing advanced Application Programming Interface (API) platforms that simplify cross-border payments. The core challenge for DLocal is maintaining its competitive edge-deep local payment methods (Alternative Payment Methods or APMs) and local processing-while rivals continuously upgrade their own API offerings to be just as easy to integrate.

You need to remember that the total payment volume (TPV) for DLocal hit a record US$10.4 billion in the third quarter of 2025, a strong indicator of merchant reliance. But this growth is constantly under threat from competitors whose platforms offer a broader global footprint or superior developer experience. Honestly, the barrier to entry for a global merchant to switch payment processors is often just a few lines of code, so platform-stickiness is defintely crucial.

The competitive pressure forces a relentless pace of development. The main threats come from platforms that offer a one-stop-shop, much like DLocal's 'One DLocal' concept, but with potentially deeper pockets for R&D:

• Stripe Payments: Strong global API and developer community.
• Adyen: Unified commerce platform with global reach.
• PayPal Payments / Braintree: Leveraging massive existing merchant and consumer networks.

Continuous need for investment in advanced fraud detection and prevention systems.

Operating in over 40 emerging markets means DLocal faces a disproportionately high risk of payment fraud, requiring continuous, heavy investment in its fraud detection and prevention (FDP) technology. The global FDP market is projected to grow to approximately US$63.90 billion in 2025, underscoring the scale of this problem and the required investment.

DLocal's proprietary solution, the Defense Suite, relies heavily on machine learning algorithms and device fingerprinting to adapt to evolving fraud patterns across its diverse markets. Here's the quick math on the investment pressure: DLocal's operating expenses grew by 10% quarter-over-quarter in Q3 2025, driven significantly by higher salaries and wages in the technology and sales & marketing functions. This increase is the real-world cost of hiring the specialized engineers and data scientists needed to keep the platform secure and compliant.

If the fraud systems lag even slightly, the financial and reputational damage is immediate. Keeping chargeback rates low is a non-negotiable technical requirement for maintaining merchant trust and avoiding fines from card networks. The need is not just to detect fraud, but to do it in real-time across over 900 local payment methods.

Rise of Central Bank Digital Currencies (CBDCs) potentially disrupting existing payment rails.

The rise of Central Bank Digital Currencies (CBDCs) in key emerging markets represents a major technological opportunity, but also a significant disruption risk. CBDCs and instant payment systems (IPS) like Brazil's Pix are designed to offer faster, cheaper cross-border transfers and greater financial inclusion, which can bypass traditional banking and payment intermediaries.

For DLocal, which specializes in integrating with existing local payment rails, a shift to a sovereign digital currency could change the underlying technology overnight. The most concrete example is in Brazil, where the instant payment system Pix is expected to surpass credit cards in eCommerce use by the end of 2025. This forces DLocal to rapidly integrate new APIs and payment flows to maintain its market position.

The table below shows the status of CBDC initiatives in DLocal's core markets, illustrating the near-term technological adaptation imperative:

Country (DLocal Market)	CBDC/IPS Status (as of 2025)	Technological Implication for DLocal
Brazil	Pix (IPS) is dominant; Digital Real (CBDC) in development/pilot.	Must maintain seamless, high-volume integration with Pix and prepare for a potential full CBDC shift.
Nigeria	eNaira (CBDC) has launched.	Requires continuous platform updates to support the eNaira rail for pay-ins and pay-outs, ensuring compliance.
India	Digital Rupee (CBDC) is in pilot stage.	Need to be ready to integrate the new digital currency into the platform's single API.

Scalability challenges in maintaining a unified platform across 30+ disparate local systems.

DLocal's entire value proposition, the 'One DLocal' concept-one API, one platform, one contract-is a continuous technological challenge. The company operates across over 40 geographies in Latin America, Africa, the Middle East, and Asia, each with its own unique payment methods, currencies, and regulatory requirements.

The real challenge isn't just connecting to these systems, but ensuring the platform scales efficiently and reliably. A job posting for a Senior Product Manager in Settlements highlights the need to evolve the settlements product for 'automation at scale' and to support new models like instant payments. This indicates that the core process of moving money-the most critical function-is a constant technical bottleneck that requires heavy resources to automate and maintain.

The complexity is immense, as the platform must manage:

• Over 900 local and alternative payment methods.
• Disparate local regulatory and compliance standards.
• Real-time foreign exchange (FX) conversions and settlement models.

This fragmentation means DLocal's technology team is primarily focused on maintenance and adaptation, a necessary cost that can slow down innovation in other areas. The strength of the unified API is also its greatest technical liability; a failure in one core component could impact operations across dozens of markets.

DLocal Limited (DLO) - PESTLE Analysis: Legal factors

Complex and non-uniform Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations across countries.

The biggest legal headache for DLocal Limited isn't a single regulation, but the sheer volume and non-uniformity of Anti-Money Laundering (AML) and Know Your Customer (KYC) rules across its 40+ emerging markets. You're not dealing with one regulator; you're managing dozens of different rulebooks.

This fragmentation forces DLocal to build and maintain distinct compliance stacks for each country. For example, Mexico's framework emphasizes real-time payment regulation and strict controls on cash transactions, while Colombia requires enhanced due diligence for Politically Exposed Persons (PEPs). The cost to maintain this infrastructure is defintely a drag on operating expenses, even as the company scales. They currently hold over 30 licenses and registrations globally, including new ones secured in 2025 in the UAE, Turkey, and the Philippines, showing the constant investment needed just to operate legally.

Here's the quick math on the compliance challenge:

• Mexico: Rigorous KYC protocols enforced by Banxico and CNBV.
• Brazil: AML is overseen by the Council for Financial Activities Control (COAF) and the Central Bank of Brazil (BCB).
• Chile: Demands detailed customer due diligence for legal entities.

Strict data privacy laws (like Brazil's LGPD) increasing compliance costs and data management complexity.

Data privacy is a material financial risk, not just a policy issue. Brazil's Lei Geral de Proteção de Dados (LGPD) is the most prominent example, applying to any entity processing the personal data of individuals in Brazil, regardless of where the company is headquartered. This means DLocal must treat Brazilian customer data with the same rigorous care as European GDPR data.

The financial stakes are high. Non-compliance with the LGPD can result in fines of up to 2% of a business's revenue in Brazil for the previous fiscal year, capped at 50 million Brazilian Reais (R$) per violation. Plus, the average cost of a data breach in Brazil reached R$ 7.19 million per company in 2025, according to the IBM Cost of a Data Breach report. A critical deadline for international data transfers-a core part of DLocal's business-was August 23, 2025, requiring the adoption of new Standard Contractual Clauses (SCCs) set by the National Data Protection Authority (ANPD).

You simply cannot afford to get this wrong.

Varying consumer protection laws requiring tailored dispute resolution and refund processes.

Operating across diverse markets means DLocal must adhere to a patchwork of consumer protection laws, which directly impacts their operational efficiency and cost structure. Each country has different rules on chargebacks, refund timelines, and consumer dispute resolution mechanisms. This necessitates a tailored, local-first approach to every part of the payment lifecycle, which is what the One DLocal model promises.

This complexity is compounded by the rise of local Alternative Payment Methods (APMs)-like Brazil's Pix system, which now processes over 50% of eCommerce payments in the country. These APMs often have unique, non-standardized rules for settlement and dispute handling compared to traditional card networks. Managing this local friction is a core value proposition for DLocal, but it also creates a significant, ongoing compliance burden that requires continuous investment in technology and local legal counsel.

Increased regulatory scrutiny on cross-border payment facilitators to prevent illicit financial flows.

Regulators worldwide are tightening the screws on cross-border payments to combat money laundering and capital flight. This scrutiny is particularly intense in emerging markets with volatile currencies and capital controls, like Argentina. This is where policy risk immediately hits the income statement.

In its Q3 2025 financial results, DLocal explicitly reported a short-term impact of $13.1 million on its cash flow due to the structuring required to expatriate funds from Argentina following regulatory changes in the quarter. This single event shows the tangible, multi-million-dollar cost of navigating sudden, adverse regulatory shifts. The market also assigns a deep discount to DLocal's valuation due to this policy risk, specifically calling out the potential for currency devaluations in fragile markets like Egypt or Bolivia.

Here is a summary of the quantifiable legal and regulatory risks DLocal navigates:

Regulatory Area	Key Market	Quantifiable Risk / Impact (2025 Data)	Actionable Insight
Capital Controls / FX Regulation	Argentina	Short-term impact of $13.1 million on cash flows due to regulatory changes in Q3 2025 for expatriating funds.	Policy risk is an immediate, material cost to cash flow; diversification to less volatile markets is crucial.
Data Privacy (LGPD)	Brazil	Potential fines up to 50 million Brazilian Reais (R$) per violation, or 2% of revenue. Average data breach cost: R$ 7.19 million.	Compliance with the August 23, 2025, international data transfer deadline is a high-priority, non-negotiable cost.
AML/KYC Compliance	Global/Multi-Market	Over 30 licenses and registrations globally, requiring a massive, non-scalable compliance team and tech stack.	The fragmented nature of AML/KYC is a continuous, high-fixed-cost barrier to entry for competitors, but a persistent operating expense for DLocal.
Regulatory Scrutiny	Argentina (Historical Context)	Past investigation for possible $400 million fraud related to improper transfers abroad (2023 event, informs current risk).	High risk of ongoing governmental scrutiny that can trigger class-action lawsuits and significant reputational damage.

DLocal Limited (DLO) - PESTLE Analysis: Environmental factors

Low direct environmental impact, but increasing investor scrutiny on operational carbon footprint.

As a technology-first payments platform, DLocal Limited has a low direct environmental footprint compared to heavy industry, but that doesn't mean you get a pass. The core environmental risk is tied to the energy consumption of your third-party data centers, which house the infrastructure that processed a record Total Payment Volume (TPV) of US$10.4 billion in the third quarter of 2025. That's a massive volume of digital transactions, and investors are defintely asking about the associated Scope 3 emissions (indirect emissions from the value chain). The pressure is on to quantify and manage the carbon emissions of your cloud and server providers in markets like Brazil and Nigeria, where grid energy can be carbon-intensive.

The industry is moving past simple 'green office' initiatives. Realistically, your operational carbon footprint is a supply chain issue, and you need to start demanding energy efficiency and renewable energy procurement data from your vendors. It's not just about being green; it's about managing a growing operational cost risk as carbon pricing becomes more prevalent globally.

Growing requirement for transparent Environmental, Social, and Governance (ESG) reporting from investors.

Investor demand for transparent Environmental, Social, and Governance (ESG) reporting is no longer a niche concern; it's a mainstream expectation that directly impacts your cost of capital. Your ESG Risk Rating from Sustainalytics, as of September 03, 2025, is a key metric that portfolio managers use to screen your stock. A lower score indicates less unmanaged risk, which is what every analyst looks for. For context, the risk categories range from Negligible (0-9.99) to Severe (40+), and your current position on that spectrum will influence fund flows. Your financial results for Q3 2025 showed Net Income of US$51.8 million, but a poor ESG score can translate that into a lower price-to-earnings multiple. You need to formalize your disclosures, especially around the 'E' factors, or face a discount.

Pressure to demonstrate social impact by facilitating financial inclusion for the unbanked.

This is where DLocal Limited shines in the 'S' of ESG, and it's a massive competitive advantage you must quantify. Your business model is inherently a social good, connecting global enterprise merchants with billions of consumers in more than 40 countries across Africa, Asia, and Latin America. This includes facilitating payments for the unbanked by supporting over 900 local payment methods, including real-time systems like Pix in Brazil. This strategy drives growth: your Total Payment Volume (TPV) grew by 59% year-over-year in Q3 2025. To maximize the social impact narrative for investors, you must map your financial metrics to concrete social outcomes. Here's the quick math on your recent performance:

Metric (Q3 2025)	Value	Social Impact Link
Total Payment Volume (TPV)	US$10.4 billion	Scale of commerce enabled in emerging markets.
Revenue	US$282.5 million	Economic activity facilitated for local merchants.
Adjusted Free Cash Flow	US$38 million	Financial model resilience to support expansion into new, underserved markets.
TPV Growth (YoY)	59%	Rate of accelerating digital financial access.

Operational resilience planning against climate-related disruptions in data center locations.

Operational resilience is a critical, near-term risk, especially as extreme weather events increase globally. Your reliance on data centers in emerging markets-many of which are in regions vulnerable to climate hazards like flooding, extreme heat, or water stress-exposes you to service disruption risk. While you don't own the facilities, you rely on them for 24/7 operations; a single data center outage due to a heatwave or a storm surge in a coastal city could severely impact your ability to process cross-border payments. The industry is seeing a major focus on the Digital Operational Resilience Act (DORA) and similar frameworks, meaning regulators are watching.

You need to ensure your third-party data center contracts mandate Tier III or Tier IV standards for fault tolerance. This is a non-negotiable for long-term operational continuity. Your action plan should focus on:

• Map data center locations against climate risk (flood, heat, water stress).
• Audit vendor resilience plans for power and cooling redundancy.
• Quantify the Cost-to-Revenue Ratio impact of a 48-hour regional outage.

Finance: draft a 13-week cash view by Friday focusing on FX volatility scenarios.