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8 best supplier payment solutions UK: Top options compared

Last update:

December 17, 2025

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Paying suppliers should be simple. Yet across the UK, many businesses still face high fees, slow transfers and hidden FX costs that erode profit margins. A single international payment can cost £10–£30 in fees and incur a 3–4% FX margin, cutting into profits and creating cash flow pressure.

SMEs importing stock, e-commerce sellers sourcing products abroad and manufacturers managing complex vendor networks all face the same challenge: how to pay suppliers efficiently without losing control of costs.

Modern supplier payment platforms give UK businesses faster transfers, transparent FX rates and automated workflows. They replace slow, costly bank processes with tools that improve visibility, protect cash flow and build stronger supplier relationships.

In this article, you’ll find eight of the best supplier payment solutions in the UK, selected for reliability, cost efficiency, transparency and ease of use.

What to look for in a supplier payment solution

Choosing the right supplier payment platform comes down to speed, transparency and control. Here are the core features to focus on:

Multi-currency support and local accounts: If you pay suppliers overseas, a multi-currency account is fundamental. It lets you hold and send funds in local currencies, often using domestic bank details, avoiding conversion costs and speeding up transfers. The best providers support dozens of currencies, including USD, EUR and CNH and offer same-day or next-day settlements at low cost
Transparent pricing and low fees: Hidden charges add up fast. Look for platforms that use the real mid-market FX rate and show their fees upfront
Speed and reliability: Late payments can damage supplier relationships. Choose a platform that processes same-day or next-day payments through local rails such as Faster Payments or SEPA. Real-time tracking, clear status updates and responsive support make all the difference for business continuity
Automation and integration: For businesses managing multiple vendors, automation saves time and reduces manual work. Batch payments, accounting integrations (for example, with Xero or NetSuite) and API access help simplify payment runs and reconciliation
Control and risk management: Look for tools that help you plan and protect your finances, such as rate locking or forward contracts to manage currency risk. Multi-user access, approval workflows and strong security controls add an extra layer of safety

8 best supplier payment providers in the UK for 2026

This list draws on recent expert reviews, industry awards and verified user feedback to identify the leading supplier payment platforms in the UK. We compared each provider by cost, speed, currency coverage, ease of use and business tools such as automation and integrations.

All insights are based on trusted UK data from the past two years to ensure accuracy and relevance.

Here is a summary table comparing each provider, followed by detailed breakdowns for each platform:

Provider	Currencies supported	Key features	Best for	Pros	Cons
WorldFirst	20+ local accounts; pay in 100+ currencies	Bulk payments, 130+ marketplace links, FX forwards (24 months), World Card	UK SMEs, importers, e-commerce sellers	No setup fees, competitive FX, Xero/NetSuite sync, dedicated support	Business-only; verification required
Wise Business	Hold 40+ currencies; 8+ local details	Mid-market FX, batch payments (1,000), debit card, API	Startups and SMEs with frequent global payables	Transparent pricing, no monthly fee, intuitive app	No forward contracts, self-service support
Revolut	25+ currencies	Tiered plans, instant transfers, corporate cards, budgeting tools	Tech-driven SMEs needing all-in-one finance	Fast setup, free transfers up to limits, strong automation	Fees after limits, no FSCS cover, no FX hedging
Payoneer	150+ currencies via global network	Local receiving accounts, marketplace payouts, Mastercard debit card	E-commerce sellers and freelancers	No-fee network transfers, wide acceptance, 24/7 multilingual support	FX margin up to 3.5%, annual card fee, inactivity charge
Airwallex	12+ currencies; 130+ corridors	API-first, virtual Visa cards, ~0.5–1% FX margin, no monthly fees	Online businesses and platforms	Automation-ready, real-time transfers, no transfer fees on local rails	Fewer currencies, £10–£20 SWIFT fees, online-only support
OFX	50+ currencies	No transfer fees, 24/7 dealers, forwards and limit orders	SMEs with regular or large transfers	Negotiable rates, personal dealer, FCA-regulated	£100 min transfer, slower setup, no debit card
Moneycorp	120+ currencies	Forward contracts, API access, dealer support	Manufacturers, importers, FX-heavy SMEs	40+ years’ experience, award-winning service, hedging tools	Custom quotes, slower onboarding, no card features
Currencies Direct	70+ currencies	Fee-free transfers, forwards and options, dedicated manager	SMEs wanting hands-on FX guidance	Zero transfer fees, tight margins	No debit cards, limited exotic currencies

Power your global growth with one account

Get local currency accounts, fast payments and competitive FX – all in one place.

1. WorldFirst World Account

WorldFirst is a UK-based fintech specialising in international business payments, and its World Account is purpose-built for companies that need to pay and receive funds globally.

Now part of Ant Group, WorldFirst combines the reliability of an established provider with innovative features. The World Account is a multi-currency business account that lets you operate like a local in multiple countries – it’s an all-in-one solution for holding foreign currencies, paying suppliers abroad and collecting sales proceeds.

WorldFirst has been operating since 2004 and is regulated by the FCA in the UK, giving SMEs confidence in its safety and compliance.

Key features:

Multi-currency accounts: Open local accounts in 20+ currencies (GBP, EUR, USD, AUD, CNH and more) through your World Account to receive, hold and pay suppliers in over 100 currencies worldwide
Competitive FX and rate locking: Access transparent exchange rates with low margins and lock them in for up to 24 months to manage supplier costs with confidence
Batch payments and accounting sync: Upload bulk payments and connect with Xero or NetSuite for automatic reconciliation and smoother bookkeeping
World Card for business spending: Use the virtual Mastercard linked to your account to spend directly from your balances, manage team expenses and earn cashback
Marketplace collections: Collect revenue from 130+ global marketplaces and platforms, including Amazon, eBay and TikTok Shop

Pros:

No monthly account fees; pay only on FX conversions and transfers
Local accounts and rails for faster, lower-cost payouts in key markets
Forward contracts and firm orders to manage currency risk up to 24 months in advance
Dedicated account managers and UK support for higher-touch service
Earn up to 1.2% on business expenses with the World Card

Cons:

Business use only; onboarding and KYC required
No physical branches for in-person servicing

2. Wise Business Account

Wise (formerly TransferWise) is one of the most well-known fintechs in international payments, known for its low-cost transfers and transparency. The Wise Business account extends Wise’s consumer offerings into a product tailored for businesses, freelancers and sole traders.

The FCA regulates Wise in the UK and has been operating since 2011, gaining a strong reputation for reliability and innovation. The premise of Wise is to use the real mid-market exchange rate with a small fee, making it significantly cheaper than traditional bank transfers.

Key features:

Hold and convert 40+ currencies: Manage balances and convert at the mid-market rate with a low, upfront fee
Local bank details: Get GBP, EUR, USD and other local account details to receive like a local
Batch payments and API: Wise Business supports batch payments (called BatchTransfer) that allow up to 1,000 payments in one go
Business debit card: Spend in any currency balance you hold or withdraw cash while abroad, using Wise’s low conversion fees
Accounting integrations: Connect to Xero and QuickBooks for easy reconciliation

Pros:

Mid-market exchange rate with transparent fees
Local account details in major currencies for easy receiving and refunds
Fast payments on supported corridors and simple batch/API tools
Intuitive web and mobile apps suited to self-serve finance teams

Cons:

No forwards or options for hedging future supplier invoices
Mostly self-service support; no dedicated dealer by default
Small extra conversion fee outside market hours on some currencies

3. Revolut Business

While Revolut is widely known for personal accounts and prepaid cards, its business accounts have grown popular among startups and tech-savvy companies.

Revolut Business combines banking-style features (account numbers, debit cards, direct debits) with fintech agility (fast currency exchange, integrations and even crypto on some plans).

For supplier payments, Revolut lets you hold and exchange money in multiple currencies and make international transfers, often at better rates than traditional banks.

Key features:

Multi-currency accounts: Hold and exchange 25+ currencies with local GBP and EUR details
Plan-based allowances: Get monthly FX and transfer allowances, then transparent fees after limits
Fast transfers: Within Revolut’s network, transfers are instant. For external payments, Revolut often uses local banking partners to speed up delivery.
Corporate cards and expenses: Issue physical and virtual cards with spend controls
APIs and integrations: Revolut Business offers an API for payments and webhooks for notifications, enabling you to automate transactions

Pros:

All-in-one account with FX, domestic and international transfers, plus cards
Instant transfers within the Revolut network and rapid local payouts
Tiered plans with monthly fee-free FX/transfer allowances
APIs, approvals and expense controls for operational oversight

Cons:

Value depends on picking the right plan and staying within allowances
Support primarily via in-app chat; no relationship manager
E-money model in the UK; funds safeguarded but not FSCS-insured

4. Payoneer

Payoneer is a global payments platform founded in 2005 that has become especially popular among freelancers, online sellers and export businesses.

Payoneer’s core offering is a multi-currency account that enables you to receive payments from international clients or marketplaces and then pay others worldwide. It’s often thought of as a cross-border B2B payment network.

For UK businesses, Payoneer can serve as a supplier payment solution by allowing you to collect foreign currency revenues (if any) and pay suppliers or contractors globally from that balance or by funding the account from your bank and making international payments.

Key features:

Global receiving accounts: Payoneer provides you with receiving account details in several major currencies through its “Global Payment Service”
Supplier and contractor payouts: Pay to bank accounts or fee-free within the Payoneer network
Currency conversion: Convert between balances at competitive, visible margins
Prepaid Mastercard: Spend directly from balances for travel and online purchases
Marketplace integrations: Connect to Amazon, eBay, Fiverr and many others

Pros:

Extensive global reach and acceptance across 200+ countries
Fee-free transfers within the Payoneer network for supplier payouts
Deep marketplace integrations to collect and pay from the same hub
Optional prepaid card for direct spend from foreign-currency balances

Cons:

FX margins are typically higher than those of ultra-low-cost specialists
Extra fees may apply for bank withdrawals, cards or inactivity

For additional Payoneer alternatives, explore our complete comparison guide.

5. Airwallex

Airwallex is a newer fintech company (founded in 2015 in Australia) that has rapidly expanded into the UK, Europe and other regions. It positions itself as a one-stop global financial platform for businesses, enabling the collection, holding and international transfer of funds through technology-driven solutions.

In the UK, Airwallex is regulated as an e-money institution and has become a popular choice for startups and SMEs looking for an alternative to traditional banks for cross-border transactions. For supplier payments, Airwallex provides multi-currency wallet capabilities and cross-border transfers with low fees, aiming to make international payments as easy as domestic ones for businesses.

Key features:

Multi-currency wallet: Open local accounts in key currencies and pay like a local
Transparent FX: Convert at competitive, clearly stated margins
Automation and API-first: Orchestrate payouts and approvals from your systems
Multi-currency cards: Create virtual and physical Visa cards for teams
Plug-and-play integrations: Connect to Xero, Shopify and popular commerce stacks

Pros:

API-first platform for automated, rules-based supplier payouts
Competitive FX with local clearing on many routes to cut SWIFT costs
Multi-currency Visa cards for team spend tied to wallet balances
Strong integrations for e-commerce and accounting stacks

Cons:

Fewer holdable currencies than some rivals for niche needs
SWIFT fees apply on corridors without local rails and setup can feel technical

6. OFX (Global Currency Account)

OFX is a global foreign exchange and payments company that started in Australia (formerly known as OzForex) and now has a significant presence in the UK.

OFX offers business services, including the Global Currency Account, which is particularly useful for SMEs that need to manage multiple currencies.

OFX’s approach blends technology with human support – you can do a lot online or via their app, but you can also talk to FX specialists, which can be very helpful for larger transactions or complex needs. For supplier payments, OFX provides a secure, reliable platform with no fixed transfer fees and competitive exchange rates.

Key features:

Global Currency Account: Hold and receive in multiple currencies with local details
No fixed transfer fees: Pay suppliers while controlling costs via competitive spreads
24/7 dealers: Get specialist support on timing and execution
Hedging tools: Use forwards and target orders to manage FX risk
High transfer limits: Handle large or recurring supplier payments confidently

Pros:

24/7 dealer desk and named specialists for large or time-sensitive payments
No fixed transfer fees; competitive margins that improve with volume
Forwards and limit orders to lock or target rates for future invoices
Well-suited to high-value or recurring payables with negotiated pricing

Cons:

No debit cards or day-to-day banking features
Interface is solid but less modern than app-first fintechs
Minimum transfer amounts and quotes are typically available after registration

7. Moneycorp

Moneycorp is a UK-based foreign exchange and international payments company with a long history (established in 1979). It has grown from a bureau de change operator to a global payments provider serving businesses, individuals and even financial institutions.

Moneycorp is often known for its strong customer service and expertise in currency markets. It provides a range of services useful for supplier payments: spot FX transactions, forward contracts, international transfers and even business currency accounts.

For UK SMEs, Moneycorp can act as a proactive partner – not just executing payments, but also helping plan FX strategy and timing for those payments.

Key features:

Wide currency coverage: Pay suppliers worldwide with competitive rates
Forwards and hedging: Lock rates and place market orders for predictable costs
Online platform and API: Book, track and integrate payments with your systems
Account management: Work with a dedicated dealer who understands your flows
Global network: Leverage established banking relationships for efficient settlement

Pros:

Longstanding UK provider with an award-winning business transfer service
Extensive hedging toolkit including longer-dated forwards
Dedicated account managers and proactive market insight
Broad currency coverage and strong global banking network

Cons:

Onboarding is not instant; verification can take time
Small transfer fees may apply, depending on the arrangement and size
More traditional experience than instant, app-only platforms

8. Currencies Direct

Currencies Direct was one of the first non-bank FX services in Europe and has grown a substantial base of personal and business clients.

For businesses, Currencies Direct offers international payment solutions with an emphasis on personal service (like dedicated account managers) and zero transfer fees. They handle everything from small transactions to huge ones and provide tools to help manage currency risk.

In the context of supplier payments, Currencies Direct can help companies pay overseas vendors at competitive exchange rates while providing guidance and support similar to those offered by Moneycorp and OFX.

Key features:

No transfer fees: Pay suppliers without per-payment charges
Tight FX margins: Reduce total cost versus typical bank pricing
Batch and recurring payments: Streamline multiple monthly invoices
Risk management: Use forwards, limits and alerts to plan payments
Dedicated manager: Get guidance and quick execution when it matters

Pros:

No transfer fees; pay via tight FX spreads, often sharper on larger sums
High customer satisfaction and dedicated account managers
Forwards, limits and options available for practical risk control
Batch and recurring payments for streamlined month-end processing

Cons:

Specialist payments only; not a complete business bank replacement
Standard KYC onboarding and live quotes after account setup
No cards or branches for in-person services

Why WorldFirst leads among the best supplier payment solutions in the UK

While all these options can help UK businesses streamline supplier payments, WorldFirst stands out for its global reach, transparency and business-focused tools. It brings everything together in one platform, allowing you to hold, convert and send multiple currencies with ease while keeping costs predictable.

With the World Account, you can manage supplier payments worldwide, automate routine transfers and lock in rates to protect margins.

What sets WorldFirst apart:

Global flexibility: Open local accounts in 20+ currencies and pay suppliers in over 100
Transparent FX: Clear, competitive rates with no hidden markups
Payment efficiency: Batch tools and accounting integrations that simplify payables
Risk control: Forward contracts and dedicated support to manage currency exposure
Trusted foundation: Authorised by the FCA and trusted by more than one million businesses

For UK importers, manufacturers and online sellers, WorldFirst delivers what the best supplier payment solutions should offer: visibility, reliability and global capability.

Open a World Account for free today and simplify your supplier payments with fast transfers, transparent rates and complete confidence.

Abdul Muhit has 17 years' experience in banking and payments, spanning across regulation, payment networks, acquiring, issuing and treasury.

Abdul Muhit

Author

Commercial Growth Manager, WorldFirst UK

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