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How does WorldFirst work?

Last update: March 9, 2026

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WorldFirst is a one-stop digital payment and financial services platform helping businesses grow in global markets. Here’s how we work.

Key takeaways

A World Account lets you set up local currency accounts in 15+ currencies
Send and receive payments in 100+ currencies at competitive FX rates
Collect payments from 130+ leading marketplaces and payment gateways
Use the World Card to make global card transactions or World Pay to make secure payments on 1688.com

WorldFirst aims to simplify international payments and collections for online sellers, SMEs and global businesses. A World Account lets you get paid, pay, hold funds, convert and manage your global earnings in one place. Our services focus on what businesses need to reach new markets and grow globally.

With solutions like World Pay and the World Card, WorldFirst gives you the tools to pay suppliers, manage business expenses, and protect against FX risks–all from a single account.

In this guide, we’ll go through how we provide fast, secure and reliable international transfers.

Who is WorldFirst?

Founded in 2004 in the UK out of a frustration with how complex and costly it was to send money abroad, WorldFirst was created to help small and medium-sized businesses manage cross-border payments. The first international office opened in Sydney in 2009. We joined Ant Group in 2019 and currently have 500+ employees globally, across nine regions, including Australia, the UK, Southeast Asia and Asia.

With our services, businesses can make fast and affordable payments, set up multi-currency accounts, collect funds from marketplaces, and manage currency conversion risks through forward contracts.

Is WorldFirst safe?

WorldFirst Pty Ltd is regulated by the Australian Securities and Investments Commission (ASIC). We’re a designated remittance provider registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC).

We only partner with top-tier banking institutions to provide payment services. Two-factor authentication protects customer funds and our systems automatically detect and address any potentially fraudulent activities in real-time. We also perform strict checks on all customers and constantly monitor funds to confirm the validity of payments.

We don’t invest customer funds. Instead, we store equivalent balances in segregated accounts, with leading financial institutions, to cover customer account balances.

What kind of businesses can use WorldFirst?

Our customers include both small-to-medium enterprises (SMEs) and large businesses – everyone from Amazon sellers to importers and multinationals. Whether you’re a sole trader running a fast-growing business or an established brand, you can use a World Account to streamline international payments and protect your profit margins.

The World Account provides a centralised platform to manage finances across multiple marketplaces and countries.

How does WorldFirst manage international transfers?

Local currency accounts

With a WorldFirst multi-currency account, you can send, receive and hold funds in 15+ local currencies, including GBP, USD, EUR, AUD, JPY, NZD, SGD, HKD, CNH and CAD. Offshore accounts for AED, CHF, SEK and PLN are also available.

Each account comes with an account number and banking details under your business’s name, with no need for a registered overseas address. The benefit of a local currency account is that using domestic networks to send and receive payments reduces transfer times and fees.

You can open multiple local currency accounts online without needing an overseas business address.

Sellers can use their local currency accounts to collect funds from global marketplaces and payment gateways. They can also hold funds in their World Account to pay suppliers in the same currency or withdraw them at any time when exchange rates are favourable.

Sending and receiving payments

You can send payments in over 40 currencies across 130+ countries and regions and receive payments for free in 20+ currencies.

With batch payments, you can process up to 200 payments at once, saving you valuable time on manual tasks and freeing you up to focus on expanding your business. You can even schedule one-off or regular payments in the future.

The speed of payments depends on several factors, including the payment currency, size of the transaction and the payee’s bank and country.

You can receive payments from a number of sources, including:

Online marketplaces
Payment gateways
Third-party businesses
Your company’s bank account
Your personal bank account in the same name

Our partnership with over 100 marketplaces and payment gateways, including Amazon, eBay, Etsy, AliExpress and Stripe, lets customers grow their business where customers are.

With a World Account, you can also pay 1688.com suppliers directly. 1688.com is China’s leading wholesale marketplace, featuring low MOQs and highly competitive pricing to help you maintain your profit margins.

World Pay: The only authorised way to pay 1688 suppliers

1688.com (owned by Alibaba Group) is one of China’s largest wholesale platforms, offering access to millions of suppliers and competitive pricing. But international buyers often face challenges:

The platform is designed primarily for domestic Chinese buyers
Payments typically require a local Chinese bank account
Many suppliers don’t provide export or cross-border support

World Pay is the only authorised cross-border payment solution for overseas buyers on 1688, and it seamlessly integrated with your World Account.

Here’s how WorldFirst works

Open a World Account: Your multi-currency business account with WorldFirst
Activate World Pay: Link your World Account to your 1688.com account
Fund Your CNH Balance: Either top up your account with offshore RMB (CNH) or convert other currencies like USD, AUD, or EUR into CNH at competitive rates
Pay suppliers directly on 1688: At checkout, simply choose World Pay as your method. The payment comes straight from your World Account balance.

Take a look at some of the many benefits of using World Pay

Authorised and secure: The only official payment partner for cross-border 1688 payments
Competitive exchange rates: Access competitive CNH conversion rates for cost-effective sourcing
One-click checkout: Pay directly with your WorldFirst balance for quick transfers
Low transaction costs: Minimal fees compared to intermediaries or bank remittances

Transparent process: Payments are tracked and reconciled within your World Account

World Card: Manage global business expenses with ease

Your business needs go beyond supplier payments. You also cover advertising, SaaS tools, shipping, travel, and marketplace fees.

The World Card is a virtual debit card linked directly to your World Account. It lets you spend globally across 150+ currencies wherever Mastercard is accepted, while giving you full control over how your team manages expenses. There’s no foreign transaction fees when you spend from 15 supported currencies (as long as you have sufficient funds in that currency).

You can use the World Card for:

Marketing and ads: Pay Google, Meta, and Amazon Ads directly with your USD or EUR balance
SaaS tools: Cover subscriptions for Shopify, Salesforce, HubSpot, Zoom, or Google Workspace
Travel and logistics: Book flights, hotels, and pay global couriers like DHL, FedEx, or UPS
Supplier payments: Pay Alibaba or AliExpress suppliers online with zero FX fees (if paying in supported currencies)
Marketplace fees: Cover recurring seller fees on Amazon, eBay, or Shopify

Key benefits of the World Card

Centralised global spending: Pay for everything in one place including ads, SaaS subscriptions, supplier payments, travel bookings, shipping fees, and marketplace costs

Avoid double conversions: Use the collected multi-currency funds in your World Account to make card transactions while avoiding double conversions

Multiple cards for teams: Issue additional virtual cards for employees, assign limits, and track all spending in real time

Alipay integration in China: Link your World Card to your Alipay wallet for seamless in-person payments in China

Earn cashback: Get cashback on all eligible business spend (T&C apply)

Safe and secure: Every World Card transaction is protected by Mastercard’s 3D Secure authentication, reducing fraud risks.

WorldFirst’s payment infrastructure

At its core, WorldFirst is built to make international payments fast, quick, and reliable.

SWIFT GPI Network: Same-day cross-border payments (cut-off times apply)
Local payment rails: Wherever possible, WorldFirst uses domestic clearing systems to reduce fees and speed up transfers.
Transparent FX margins: Capped at just 0.6% for all major currencies

Exchange rates and risk management

Managing FX volatility is critical for businesses that operate internationally. Sudden currency fluctuations can eat into margins, disrupt cash flow, and make planning difficult. WorldFirst helps businesses stay in control with tailored risk management tools:

Forward contracts: Lock in a favorable exchange rate for up to 24 months, giving you certainty on future payments and protecting your budget from market swings.
Firm orders: Set a target exchange rate and let WorldFirst execute automatically when the market reaches it, ensuring you never miss the optimal moment to convert.
Predictable payments: Pay employees, suppliers, and contractors in their preferred currency at consistent rates. This prevents fluctuating take-home pay, reduces administrative stress, and helps maintain team morale and retention.
Streamlined cash flow planning: With visibility over balances, transactions, and FX commitments, businesses can forecast expenses more accurately and reinvest savings into growth.

How to open a World Account

Here are the steps to open a business bank account with WorldFirst

1. Gather all the important documents

Before getting started, make sure you have the following documents:

Your company’s basic information (including your ABN, trading address and company structure)
A valid ID (your passport or driver’s licence)
Your mobile phone
Details of all current directors registered within the company
Valid ID for all shareholders (passport or driver’s licence)

Here’s the in-depth list of documents you’ll need to provide for account verification.

2. Add the country or region of your business

Select the country or region where your business is registered using the dropdown list.

3. Verify your email address

Enter your email address and click on the ‘Send code’ button. Verify your email address by entering the code shared over email. Create a secure password for your account.

4. Verify your mobile number

Enter your mobile phone number and click ‘Send code.’ When prompted, enter the 6-digit verification code sent to your mobile phone number via SMS.

5. Provide information about your business

Enter your company registration number and other company details, including company name, type of business, and registered address.

6. Provide proof of identity

Select your ID’s country of issue and upload proof of ID.

7. Provide information about company directors and ownership

Add details about registered directors and major shareholders, and upload the necessary documents.

Once your account is verified, you can start using it right away. Your account is automatically set up with AUD, NZD and USD receiving accounts but you can open other local currency accounts based on your current business requirements.

Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.

Rick Hill has worked in payments and financial services for the past nine years. He began his career at a large institutional bank and has since worked across startups and scaleups. Over the past four years, his experience with e-commerce retailers has led him to believe that WorldFirst will be crucial in helping brands expand globally by demystifying the complexities of entering new markets.

Rick Hill

Author

Head of Sales ANZ at WorldFirst

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How does WorldFirst work?

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What kind of businesses can use WorldFirst?