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Cross-border payment companies: 6 top providers compared

Last update:

December 5, 2025

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A cross-border payment company is a firm that helps you to send and receive money internationally. Working with one can help you to save money on FX fees, make fast global payments and even simplify your financial management.

However, different companies specialise in specific types of services, such as purchasing wholesale goods from overseas suppliers, paying international employees or supporting personal transfers to family and friends. That means that you’ll need to figure out which provider is the right fit for your needs.

As you compare providers, it’s important to select for:

Competitive fees, transparent pricing and no hidden fees or high recurring costs
All the currencies you need. For example, if you’re paying suppliers in China, you’ll need to pay in CNH/CNY
Fast transfer speeds and the ability to take advantage of local payment rails
Other perks, like virtual currency cards, the ability to earn cash back on purchases and compatibility with your financial software

In this guide, we’ll compare some of the top options side-by-side and help you choose the best fit for your business.

We’ll start with WorldFirst, a multi-currency account that offers cross-border payments to 210+ destinations, with a special focus on faster, more reliable payments to China.

In this article:

WorldFirst: the business account built for cross-border payments
5 alternative cross-border payment companies

Open a World Account for free today for fast, convenient cross-border business payments.

WorldFirst: The business account built for cross-border payments

WorldFirst is a specialist in cross-border payments for growing businesses, SMEs and sole proprietors.

While many providers focus on individual consumer payments or comprehensive enterprise-level solutions, WorldFirst is built specifically to enable faster and more affordable business payments than traditional overseas payment methods.

Our multi-currency World Account is made to help businesses save on fees, reduce transfer times and operate more efficiently across borders. For instance, WorldFirst customers can access favourable conversion rates, make faster transfers using local payment rails, and avoid the red tape associated with opening overseas bank accounts.

Over the past 20 years, WorldFirst has served more than one million business customers and facilitated USD$3 billion in international payments. Here are just some of the reasons to choose us for cross-border payment needs:

Make instant, same-day and next day payments to 210+ destinations

WorldFirst enables payments in 100+ currencies to 210+ destinations, with 80% of payments arriving on the same day and 90% by the next day. That means more on-time payments, improved relationships with your business partners and less stress about maintaining inventory levels.

You can also get even faster payments with free instant payments between World Accounts. Pay your recipient for free in seconds if they already have a World Account, or when they sign up for their own World Account at no charge.

We’re also one of the few providers offering same-day USD payments to China, via our exclusive network of local Chinese banks. In partnership with Ant Group and major Chinese banks like China Merchants Bank and Zhejiang Chouzhou Commercial Bank, WorldFirst lets you pay Mainland China and Hong Kong in just hours, with real-time payment tracking.

Pay with World Cards online wherever Mastercard is accepted

When you open a World Account, you also get 20 virtual World Cards for free, which you can use wherever Mastercard is accepted.

Use your World Cards to make payments in 150+ currencies. You also pay no FX fees on 15+ major currencies when you pay from your World Account balance.

Use a different World Card to separate expenses out by expense type, supplier, department or any other category of your choice for simplified accounting. You can also set custom limits for improved security and instantly freeze, unfreeze or cancel your card from your World Account dashboard to prevent theft, fraud and accidental overspending

When you pay with a World Card, you earn 1.2% unlimited cashback on all business expenses – that means you earn money every time you make cross-border payments.

Hold funds in 20+ currencies with no monthly fees and only exchange funds when you’re ready

With a World Account, you can receive and hold funds in 20+ currencies and get separate local account details for each currency.

With local currency accounts, you don’t have to accept unfavourable automatic conversion rates, poor market conditions or high FX fees. Instead, control how and when to exchange funds, so you can protect your cash flow.

As we use the mid-market exchange rate with a low, transparent markup, you always know exactly what you’re paying. There are no setup costs, no fees to receive or hold foreign currency and no hidden charges that other cross-border payment providers often build into their pricing.

Use your World Account as your receiving account when you sign up with major marketplaces like Amazon and TikTok Shop, and gateways like Stripe and Shopify payments. Then, collect payments in local currency, and skip the high conversion fees and unpredictable charges.

Protect large cross-border payments with WorldTrade escrow

Making large cross-border payments or working with new suppliers can raise doubts about the security of your funds. Many businesses choose to use an escrow service for extra piece of mind and protection against fraud and scams.

With an escrow service, like WorldTrade escrow, your funds are held securely by a neutral third party until your supplier ships your order. WorldTrade also comes with instant payment confirmation and real-time order tracking, so there’s never any doubt about where your funds or goods are.

Add WorldTrade at no cost when you pay with your World Account balance, or pay with a credit or debit card at just 2.9%. Use WorldTrade when you buy from nearly a million Chinese suppliers who are also WorldFirst users.

Manage all of your currencies and payments through one easy-to-open account

With the World Account dashboard, you can view all of your transaction data in one single, central platform. There’s no need to manage multiple accounts from different providers, for example different business banking accounts in different countries.

WorldFirst is also integrated with finance and business software like Netsuite and Xero, for simplified accounting and financial management. Or, easily export your World Account data to sync with other business software.

Opening a World Account account is incredibly simple, and the entire process can be completed entirely online. There’s no need to make an in-person visit and no requirement to have a local presence in any of the countries whose currencies you hold.

How to open a World Account

It takes just minutes to complete your World Account application, and most accounts are approved within 48 hours. Here’s how to open an a World Account and start making simplified cross-border payments right away:

Visit our online registration portal with your mobile phone, email and qualifying documents ready. Then:

Click the Sign up button and choose your region
Click the Create account button
Enter your personal details and business information
Upload any required documents

The account verification process can take up to 48 hours, but typically takes less than a day. As soon as you’re approved, you can set up your account and start making cross-border payments.

5 alternative cross-border payment companies

Here’s how five of the most popular cross-border payment solutions compare to WorldFirst, and who they’re best for:

1. Best choice for individual consumer payments: Wise

Wise specialises in individual overseas transfers, and has recently begun supporting business functionality. Today, businesses can open an account for a small fee to get faster overseas transfers than traditional bank wires.

Like WorldFirst, Wise offers business debit cards, but each card comes at a cost of 3GBP. You can also earn cashback, at a rate of 0.5% (but remember, with WorldFirst, you get 1.2% cashback on all business expenses).

Currencies supported: Receive 22+ currencies and hold 40+ currencies, but note that several restrictions apply
Fees: No subscription fees or monthly fees
Transfer speeds: Over half of Wise payments arrive in 20 seconds, with 95% taking less than 24 hours
Payment cards: Get one card for free or order additional cards for 3GBP each and pay online or in-store in 40+ currencies to 160+ countries

Account opening requirements: One-time setup fee of 45 GBP to open a Wise Business Account, with a fully online application process

Power your global growth with one account

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

2. Best choice for enterprises and high-growth startups: Rapyd

Rapyd is an all-inclusive suite of fintech solutions built to serve large enterprises and high-performing startups. It’s a solid choice particularly for tech-forward companies with the capital to make a significant investment in their cross-border payment infrastructure.

Unlike other providers, Rapyd’s fees are not listed on their site. Interested companies should contact sales to find out whether they qualify to partner with Rapyd.

Currencies: Multi-currency account lets you route all incoming payments to one settlement account and hold funds in multiple currencies, as well as send payments to vendors and clients. Available currencies did not appear to be publicly listed at the time of publication
Fees: Contact Rapyd for information about costs and fees
Transfer speeds: Depends. Rapyd offers many ways to receive incoming payments, including SWIFT, RTPS and global ACH. You can also send payouts using real-time push-to-card payments, stablecoin payouts, and single and mass payouts. Local clearing and instant payouts are offered in some countries, as well as eWallet payments across SEA and Europe
Payment cards: You can issue virtual and physical cards, though there may be additional fees
Account opening requirements: Contact Rapyd to see if you qualify for an account

3. Best choice for automated workflows: Airwallex

Airwallex offers a full suite of payment and banking solutions with membership plans tailored for a wide range of business sizes. The platform stands out for its robust API and the ability to build custom workflows.

Businesses that need to automate routine tasks like bulk payouts or integrate payment acceptance with their accounting software should consider Airwallex for maximum customisability. Note, however, that pricing for these additional services is not publicly listed.

Airwallex may not be a strong choice for companies wishing to partner with suppliers and manufacturers in China. Unlike some other multi-currency accounts, CNH and CNY are not listed among its currency offerings.

Currencies: Collect funds in 17 currencies with local bank and branch codes and dedicated account numbers: AUD, CAD, DKK, EUR, HKD, IDR, ILS, NZD, PHP, PLN, SGD, AED, GBP and USD. Send money in 60+ currencies to over 150+ countries and regions. No CNH/CNY
Fees: Plans for small businesses are £19/month (waived if you deposit at least £10k per month or hold a minimum balance of £10k). Plans for growing and large businesses are £49/month. Large business plans start at £999/month, plus additional charges for certain services
Transfer speeds: As little as one business day
Payment cards: Sign up with a card provider, then request a virtual card in your Airwallex account portal. Depending on your financial provider or card issuer, you may be able to create multiple virtual cards
Account opening requirements: You must be an officially registered and active business that is fully incorporated and in good standing, and registered in an eligible country

4. Best choice for freelancers and sole traders: Revolut

Revolut’s mobile-first design and abundant virtual card offerings make it a strong fit for daily spending. Monthly fees are affordable, and it’s a great choice for small businesses making small, frequent payments, especially in person and on-the-go.

Enterprise offerings are also strong, but interested companies should note that Revolut offers limited support for trade with China. The availability of SEPA transfers, however, does make Revolut a strong fit for companies making regular payments within Europe.

Currencies: Hold and exchange in 33 currencies including GBP, USD, AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, HKD, HUF, ILS, ISK, JPY, MXN, NOK, NZD, PLN, QAR, RON, RSD, SAR, SEK, SGD, THB, TRY, ZAR, KRW, COP, PHP, INR and CLP. No CNH/CNY
Fees: Plans range from £10/month to £90/month or higher with custom enterprise pricing, plus additional fees if you exceed a certain amount of no-fee local transfers, as well as payment acceptance fees and currency exchange fees
Transfer speeds: Depending on the type of payment, transfers typically take between one and two business days using local networks, SEPA or SWIFT
Payment cards: Issue physical and virtual corporate cards and spend in 130+ currencies. Can link cards to specific currency accounts or exchange at the interbank rate as you pay. Every team member can hold up to 3 active physical cards and up to 200 active virtual cards with any Revolut Business plan. Delivery fees for physical cards apply
Account opening requirements: Company must be fully incorporated, active and registered in an eligible country. No restricted industries allowed

5. Best choice for paying employees and contractors: Payoneer

Payoneer is a good fit for companies whose primary use case is paying employees, contractors and remote teams in other countries. While payment acceptance is fairly limited, the platform supports payments in 70+ currencies to 190+ countries and territories.

The platform also boasts strong integrations with online platforms like Fiverr and Upwork, enabling simplified payments to global freelancers. Note that payment fees can be quite high – up to 3% of the transaction amount, plus up to 3.5% for transactions involving currency conversion.

Currencies: Payoneer’s multi-currency account supports payment acceptance in 10 currencies: USD, GBP, EUR, AUD, CAD, SGD, HKD, AED, MXN and JPY. No CNH/CNY
Fees: Pricing depends on type of transaction, currency and other factors. There is also an annual account fee (29.95 billed in USD not GBP) and a registration fee in certain countries. The company’s website notes that all fees are estimates and that different prices may be applied in different territories and for different account types
Transfer speeds: Transfer times are not specified. Fees very depend on transfer type
Payment cards: Cards available in USD, EUR, GBP or CAD, but you must choose one currency for each card. There is no multi-currency card available at this time
Account opening requirements: Sole proprietors and many different types of businesses can apply. Each must submit different relevant documentation

WorldFirst: the best choice for your cross-border business

While there are many cross-border payment companies to suit all kinds of business needs, WorldFirst stands out for our ability to serve all business sizes with secure, enterprise-ready global infrastructure.

Our partnership with Ant Group and connections to local banking networks make us one of the most reliable choices for global payments to China. We also serve more countries and support more currencies than many other international payment platforms.

Open a World Account for free today and start making payments in 100+ currencies to 210+ destinations.

Frequently asked questions (FAQs)

What should I look for when choosing a cross-border payment company?

Look for transparent pricing, strong payment services and support for the currencies you use most often. A good provider should offer cost-effective options for cross-border transactions and work with reputable financial institutions to keep your transfers secure. It also helps if the platform uses a reliable payment network that reduces delays and makes the overall experience smoother.

How do different providers handle foreign exchange and international transfers?

Each provider has its own approach to foreign exchange, including how rates are set and when fees apply. Some companies focus on simple international transfers, while others support more complex international banking needs. A strong provider will also minimise heavy reliance on correspondent banking, which can slow things down and increase costs during international transactions.

Why are some cross-border payments faster than others?

Transfer speeds depend on the provider’s access to local rails, its global network and whether it works directly with banks in emerging markets. When fewer intermediaries are involved, the payment process moves faster and requires less liquidity. Some providers also use more modern payment system technology that shortens settlement times for both cross-border and domestic payments.

How do virtual cards support business spending across multiple countries?

Virtual cards let businesses separate expenses, set custom limits and manage payments across teams or suppliers. They can simplify checkout for online purchases and provide flexibility when paying vendors internationally.

What risks should businesses consider when sending money across borders?

Key concerns include fraud, delayed remittances, weak oversight from a provider or exposure to volatile digital currencies. Businesses should look for companies regulated by agencies and review the provider’s risk management policies.

Sources:

https://wise.com/gb/business/
https://wise.com/gb/business/card
https://www.rapyd.net/products/disburse/
https://www.airwallex.com/uk/business-account/global-accounts
https://www.airwallex.com/uk/spend-management/cards/virtual-cards
https://www.airwallex.com/uk/blog/how-encryption-safeguards-payment-data
https://www.airwallex.com/hk/blog/understanding-of-large-value-transfer
https://www.revolut.com/business/business-account-plans/
https://help.revolut.com/help/transfers/bank-transfers/timeframes-for-transfers/
https://www.revolut.com/business/cards/
https://payoneer.custhelp.com/app/answers/detail/a_id/37663/~/registration-%E2%80%93-choosing-the-right-type-of-legal-entity
https://www.payoneer.com/multi-currency-account/

Shawn Ma leads business development at WorldFirst UK, with a deep expertise in fintech, risk management and cross-border commerce.

Shawn Ma

Author

Head of Business Development, WorldFirst UK

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