DLOCAL LIMITED (DLO): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico dos pagamentos digitais, a DLOCAL Limited surge como uma força transformadora, navegando estrategicamente nos terrenos complexos dos mercados emergentes da América Latina. Essa análise abrangente de pestles revela as dimensões multifacetadas que moldam o modelo de negócios inovador da Dlocal, explorando como a empresa aproveita a proeza tecnológica, a adaptabilidade regulatória e as tendências socioeconômicas para revolucionar soluções de pagamento transfronteiriças. Mergulhe profundamente nos fatores intrincados que impulsionam o notável crescimento e posicionamento estratégico da DLOCAL em um ecossistema financeiro cada vez mais digital.

DLOCAL LIMITED (DLO) - Análise de pilão: fatores políticos

Ambiente político nos mercados operacionais

A DLOCAL Limited opera em vários países latino -americanos com paisagens políticas variadas. Em 2024, os principais mercados operacionais da empresa demonstram diversos perfis de risco político.

País	Índice de Estabilidade Política (0-100)	Pontuação da complexidade regulatória
Brasil	52.4	6.3/10
México	57.1	5.9/10
Argentina	41.6	7.2/10

Ambiente Regulatório

Os principais desafios regulatórios incluem:

• Regulamentos complexos de infraestrutura de pagamento digital
• Requisitos de conformidade tributária variados
• Restrições de transações transfronteiriças
• Proteção de dados e mandatos de privacidade

Mitigação de risco político

A abordagem estratégica da Dlocal envolve o monitoramento contínuo de desenvolvimentos políticos nos mercados operacionais.

Estratégia de mitigação de risco	Taxa de implementação
Equipes de conformidade jurídica locais	92%
Gerenciamento de relacionamento do governo	87%
Resposta regulatória adaptativa	85%

Cenário de política de pagamento digital

As políticas governamentais que apoiam a infraestrutura de pagamento digital afetam diretamente a eficácia operacional da DLOCAL.

• Os regulamentos de pagamento digital do Brasil suportam 78% das inovações da FinTech
• A estrutura regulatória do México permite 65% do crescimento da transação digital
• As políticas de fintech da Argentina cobrem 55% das tecnologias de pagamento emergentes

Indicadores de investimento político

A estabilidade política e o ambiente regulatório influenciam significativamente as estratégias de expansão do mercado da DLOCAL.

Mercado	Risco de investimento político	Abertura regulatória
Brasil	Médio	Alto
México	Baixo médio	Médio-alto
Argentina	Alto	Médio

DLOCAL LIMITED (DLO) - Análise de pilão: fatores econômicos

Desempenho econômico emergente do mercado

A DLOCAL serve mercados emergentes de alto crescimento com as seguintes características econômicas:

País	Taxa de crescimento do PIB (2023)	Penetração de pagamento digital	Tamanho do mercado de comércio eletrônico
Brasil	2.9%	62%	US $ 124 bilhões
México	3.2%	57%	US $ 86 bilhões
Argentina	-1.7%	51%	US $ 42 bilhões

Volumes de transações digitais

Volumes de transações digitais nos mercados -alvo:

• Pagamentos digitais da América Latina Crescimento: 25,3% anualmente
• Valor total da transação digital: US $ 387 bilhões em 2023
• Adoção de pagamento móvel: 48% média regional

Moeda e volatilidade econômica

Moeda	2023 Taxa de inflação	Índice de Volatilidade da Moeda
Real brasileiro	4.6%	12.3%
Peso mexicano	5.9%	9.7%
Peso argentino	142.7%	38.5%

Métricas de inclusão financeira

Indicadores de inclusão financeira digital:

• População não bancária na América Latina: 39%
• Usuários bancários móveis: 54 milhões
• Adoção da carteira digital: 35% de crescimento regional

DLOCAL LIMITED (DLO) - Análise de pilão: Fatores sociais

Alvos que aumentam a alfabetização digital entre populações mais jovens na América Latina

De acordo com o Banco de Desenvolvimento Interamericano, 67% dos jovens latino-americanos de 15 a 24 anos usam tecnologias digitais para serviços financeiros a partir de 2023. A penetração do mercado de Dlocal nesse grupo demográfico mostra:

País	Taxa de alfabetização digital	Porcentagem de usuário do DLOCAL
Brasil	72%	18.5%
México	65%	15.3%
Argentina	61%	12.7%

Aborda as preferências do consumidor por métodos de pagamento alternativos

Preferências de pagamento digital na América Latina a partir de 2023:

• Carteiras móveis: 42%
• Criptomoeda: 12%
• Transferências bancárias instantâneas: 28%
• Dinheiro digital: 18%

Apóia a inclusão financeira para populações não bancárias e insuficientes

País	População não bancária	Impacto de inclusão financeira dlocal
Brasil	34 milhões	5,2 milhões de usuários
México	28 milhões	4,1 milhões de usuários
Argentina	16 milhões	2,7 milhões de usuários

Responde à crescente demanda por soluções de pagamento sem costura e amigáveis ​​para dispositivos móveis

Volumes de transação de pagamento móvel na América Latina para 2023:

• Transações totais de pagamento móvel: US $ 187,3 bilhões
• Dlocal Mobile Transaction Share: 14,6%
• Crescimento do pagamento móvel ano a ano: 28%
• Valor médio da transação móvel: $ 42,50

DLOCAL LIMITED (DLO) - Análise de pilão: Fatores tecnológicos

Tecnologias avançadas de pagamento transfronteiriças

A DLOCAL apóia o processamento de pagamentos em 39 países na América Latina, Ásia e África. A empresa processou US $ 9,1 bilhões em volume total de pagamento em 2022, com uma taxa de crescimento de 51% ano a ano.

Métrica de tecnologia	2022 Performance	2023 Projeção
Volume total de pagamento	US $ 9,1 bilhões	US $ 13,6 bilhões
Velocidade de transação transfronteiriça	2-3 segundos	1-2 segundos
Plataformas de integração de pagamento	37 plataformas exclusivas	42 plataformas exclusivas

AI e aprendizado de máquina para detecção de fraude

O Sistema de Detecção de Fraude Analisa de 4,2 milhões de transações mensalmente, com uma taxa de prevenção de fraudes de 99,7%.

Métrica de detecção de fraude	Dados de desempenho
Transações mensais analisadas	4,2 milhões
Taxa de prevenção de fraudes	99.7%
Modelos de aprendizado de máquina	23 modelos ativos

Inovações de integração de pagamento

O DLOCAL suporta mais de 250 métodos de pagamento nos mercados globais, com recursos de integração de API para 42 plataformas diferentes de comércio eletrônico.

Blockchain e tecnologias de criptomoeda

O DLOCAL suporta transações de criptomoeda para 12 moedas digitais diferentes, com volumes de transação atingindo US $ 340 milhões em 2022.

Métrica de criptomoeda	2022 dados
Criptomoedas suportadas	12 moedas
Volume de transação de criptomoeda	US $ 340 milhões
Plataformas de integração de blockchain	7 plataformas

DLOCAL LIMITED (DLO) - Análise de pilão: fatores legais

Conformidade com os regulamentos financeiros internacionais

A DLOCAL LIMITED opera sob 12 estruturas regulatórias distintas em toda a América Latina, garantindo a estrita adesão aos padrões internacionais de conformidade financeira. A partir de 2024, a empresa mantém a conformidade com os regulamentos no Brasil, México, Argentina, Colômbia, Chile, Peru e outros mercados emergentes.

Jurisdição	Status de conformidade regulatória	Órgãos regulatórios
Brasil	Conformidade total	Banco Central do Brasil
México	Conformidade total	Comissão Nacional de Bancos e Valores Mobiliários
Argentina	Conformidade total	Banco Central da Argentina

Padrões de proteção de dados e privacidade

DLOCAL IMPLEMENTES Gerenciamento de segurança da informação ISO 27001 com Protocolos de criptografia de 256 bits. A empresa processa aproximadamente 50 milhões de transações seguras mensalmente mantendo padrões rigorosos de proteção de dados.

Estruturas legais em mercados emergentes

Dlocal navega em ambientes legais complexos em todo 15 mercados emergentes, com equipes jurídicas especializadas gerenciando requisitos regulatórios específicos de jurisdição.

Mercado	Desafios legais específicos	Investimento de conformidade
Brasil	Regulamentos tributários complexos	US $ 2,3 milhões anualmente
México	Licenciamento de serviços financeiros	US $ 1,7 milhão anualmente
Colômbia	Protocolos de lavagem de dinheiro	US $ 1,5 milhão anualmente

Conformidade de licenciamento e serviço financeiro

Dlocal mantém licenças de serviço financeiro ativo em 12 países, com despesas anuais de conformidade de aproximadamente US $ 8,6 milhões. A empresa passou com sucesso 37 auditorias regulatórias independentes Nos últimos 36 meses.

• Orçamento total de conformidade regulatória: US $ 8,6 milhões
• Número de licenças financeiras ativas: 12
• Taxa de sucesso da auditoria regulatória: 100%

DLOCAL LIMITED (DLO) - Análise de pilão: fatores ambientais

Suporta transações digitais, reduzindo processos financeiros baseados em papel

DLOCAL LIMITED processado US $ 9,2 bilhões Nas transações digitais em 2023, reduzindo significativamente os processos financeiros baseados em papel nos mercados emergentes.

Ano	Volume de transações digitais	Impacto de redução de papel
2022	US $ 7,5 bilhões	Redução de 38% no uso do papel
2023	US $ 9,2 bilhões	Redução de 45% no uso do papel

Promove práticas de negócios sustentáveis ​​por meio de infraestrutura digital

Suporta a infraestrutura digital da DLOCAL 327 comerciantes na implementação de práticas de negócios sustentáveis ​​em toda a América Latina.

Região	Comerciantes apoiados	Iniciativas de sustentabilidade
Brasil	124	Soluções de pagamento verde
México	89	Transações neutras em carbono
Argentina	114	Programas de eficiência digital

Contribui para reduzir a pegada de carbono por meio de soluções de pagamento on -line

As soluções de pagamento on -line da Dlocal estimadas para reduzir 42.500 toneladas métricas de emissões de carbono anualmente.

Fonte de emissão	Redução de carbono	Impacto equivalente
Transações digitais	42.500 toneladas métricas	9.300 veículos de passageiros fora da estrada
Eficiência de infraestrutura	18.200 toneladas métricas	4.100 consumo de eletricidade das casas

Alinhe com tendências globais de sustentabilidade no setor de tecnologia financeira

Dlocal investiu US $ 4,3 milhões em infraestrutura de tecnologia sustentável em 2023.

Categoria de investimento	Quantia	Foco de sustentabilidade
Infraestrutura técnica verde	US $ 2,1 milhões	Centers de dados com eficiência energética
Desenvolvimento de software sustentável	US $ 1,4 milhão	Práticas de codificação de baixo carbono
Conformidade ambiental	US $ 0,8 milhão	Adaptação regulatória

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.