10 Best International Payment Collection Platforms in 2024

If you want to expand your business’s reach and cater to users worldwide, you need the best international payment collection platform to enable a seamless transfer of money across borders. In today’s digital world, an efficient, secure payment gateway is essential to running a smooth business operation and serving your international customers.

In this article, we’ll take a deep dive into different platforms and their strengths and weaknesses to help you find the most suitable solution for your business. So, let’s get started!

The Top 10 Best International Payment Collection Platforms 

Here’s the list of best international payment collection platforms and what makes them stand out:

  1. Airwallex – The best international payment collection and payment processing platform with multi-currency account support and low fees.
  2. Western Union – Top choice for wide global access with cash options available at its vast agent locations.
  3. Revolut – Simplifies international money transfers as well as investments in crypto and stocks.
  4. WorldRemit – Leading international payment provider for cash collections.
  5. Wise – Renowned for quick international transfers at low fees.
  6. OFX – The most attractive option to receive large international payments.
  7. Remitly – Best for instant payment with express or cheap payment via Economy. 
  8. Xe Money Transfer – Ideal for transferring a high amount of payments daily.
  9. Xoom – A PayPal service that makes it easy to process payments.
  10. Currencies Direct – Competitive rates to process small and large amounts internationally. 

The Best International Payment Collection Platforms Reviewed

Now, let’s take a deeper dive into each of these payment processing companies to help you  choose the best one:

1. Airwallex – Best International Payment Solution Globally

This regulated payment solution, acclaimed globally as one the best international payment platform collection platforms globally, allows businesses to send, receive, and hold funds in multiple currencies. Here, not only can you open multiple foreign currency accounts but also exchange currencies and accept payments internationally. 

Airwallex Home Page

Having an Airwallex account allows businesses to accept direct transfers from customers and collect funds from PayPal, Shopify,  Afterpay, Klarna, WooCommerce, Amazon, and Stripe in multiple currencies at zero cost. Airwallex can also be integrated into e-commerce stores, which can further create multi-currency Payment Links for their customers to pay with just a click. 

Then, there are virtual debit cards that one can create for their employees for free up to a certain limit. These employee cards also come with an expense feature, which can be tracked, approved, and reconciled.

Thanks to its local payment networks, Airwallex charges no transaction or withdrawal fees. It also offers competitive FX rates, which are between 0.5% to 1% above the interbank rate for currency exchange.

At Airwallex, businesses further enjoy free payment collection via bank transfer and support for Xero, NetSuite, and Quickbooks. For customer support, you can try the FAQ section, phone number, or submit a request. 

Pros pros

  • Easy to use & seamless integration 
  • Low cost & fair conversion
  • Batch payments up to 1000 for free
  • Flexible transaction limits

Cons cons

  • Limited in-person support
  • Virtual card requires passport verification

2. Western Union – Best in the World for Global Cash Payment Options

An established payment collection service provider, Western Union has a wide presence worldwide, which means you can send and receive money from almost anywhere. 

Western Union Home Page

Using Western Union, you can receive money in your bank account or cash through the platform’s extensive network of agent locations all over the globe. It supports payment methods such as debit/credit cards and cheaper bank transfers, which are more economical.

When it comes to fees, the platform applies a currency exchange rate that is above the mid-market rate. These fees vary based on the payment type, delivery method, and destination country. Additionally, there is a low daily transfer limit.

If you want to contact Western Union, you can do so via the phone number provided on its website for different countries, use the online chat, fill out the form, or simply go to their physical branches to meet them in person. 

Pros pros

  • Wide availability 
  • Mass payments
  • Fast transfers
  • Multiple receiving options

Cons cons

  • Real-time payments available in selected countries & currencies
  • Transaction limits

3. Revolut – Premier International Payment Solution

Instead of using a bank, platforms like Revolut allow businesses to collect international payments online through websites and apps. To collect payments from all over the world, you just create an account at Revolut. 

Revolut Home Page

Its Standard account is free of charge, while Plus will cost you £3.99 per month for priority in-app support. A step above is Premium, which costs £7.99/month for priority customer service and other benefits. Revolut Metal will cost you £14.99/month for higher investment limits, while its costliest option is Revolut Ultra, which costs £45/month.

There’s also a personalized debit card that you can use to pay for products and services in multiple currencies and withdraw funds. Revolut charges fees based on the mid-market exchange rate, plus 0.5% to 2% for outside exchange hours. It further offers 10 international transfers per month, but you have to pay a fee on weekends. 

However, Revolut is more than just a payment collection platform. It also offers crypto and stock trading, peer-to-peer lending, contactless payments, and integration with Xero and QuickBooks. 

Pros pros

  • Free account
  • Budgeting tools
  • Savings interest 
  • Crypto integration

Cons cons

  • Not suitable for large transactions 
  • High subscription fees

4. WorldRemit – Leading Provider of Diverse International Payment Options

This platform is known for its wide range of payment collection options. These include the usual bank transfers, cash pickup at WorldRemit’s vast network of agents, mobile money, which is held in phones, and instant airtime top-up, where payment can only be used to top up prepaid numbers. 

World Remit Home Page

WorldRemit enables its users to see in advance which payment options are available for their location and how much the transaction will cost. The transfer fee is added to the payment by WorldRemit, however, the exchange rate will involve a markup to the mid-market rate.

The platform has low daily limits, which may not suit many businesses. However, WorldRemit does offer a few free transfers to its new customers, and its mobile wallet service automatically converts payments to the currency of the payment recipient. To contact customer support, users can try the FAQ section or use live chat or phone.

Pros pros

  • Lots of delivery options
  • Fast processing speed
  • Free transfers for new customers
  • Instant fees and rate quotes

Cons cons

  • Low transfer limits
  • Fewer additional services

5. Wise – Offering One of the Lowest International Transaction Fees

This international payment platform allows users and businesses to send and receive funds worldwide. The licensed platform, with over a decade of experience, has established a vast network of partners, including banks and fintech companies like Google Pay and Apple Pay.

Wise Home Page

On this platform, you can enjoy a multi-currency account, make recurring money transfers, track and monitor currency exchange rates, and receive real-time exchange rate notifications.

When it comes to transaction limits, Wise imposes a daily cap, which varies based on currency. As for fees, the platform uses a mid-market rate and charges a currency conversion fee. Additionally, there is a setup fee for business accounts, which includes a card that offers  0.5% cashback. Businesses can also access a free invoice generator, sales tax calculator, import duty calculator, and VAT calculator. Features such as batch payments, easy reconciliation, and auto conversion are also available.

To contact customer service, visit its Help Center or call them on the phone. If you are moving large amounts of money, you can also use its team of experts.

Pros pros

  • Fast transfers
  • Low fees
  • High daily limits
  • Bulk payment options

Cons cons

  • Limit on the fixed exchange rate
  • Lacks tax-related features

6. OFX – Recognized Widely for Streamlined International Bank Transfers

At OFX, international payment collections are supported via bank-to-bank transfers. Transactions are carried out online, via the OFX app, or over the phone. Signing up is pretty easy here, though you have to get your identity verified for transfer processing. 

OFX Home Page

On this platform, you can lock in the current transfer rate, track the money transfer, and set up notifications. There aren’t any transfer charges, though intermediaries like banks may apply a fee that is deducted from the amount transferred. 

The regulated platform, which is listed on ASX, allows you to contact its 24/7 available expert service via phone and email. In business for over two decades now, OFX has created a reputation for itself and is the perfect option for those dealing with large amounts due to the high minimum transfer limits and exchange rate markups.

Pros pros

  • Advanced features like rate-locking
  • No transfer fees
  • Highly competitive exchange rates
  • No limit on money transfers

Cons cons

  • Not suitable for small transfers 
  • High minimum transfer

7. Remitly – Widely Acclaimed Platform for International Payments

To send or receive payments via Remitly, you can either make use of the website or its app. Here, you have two options: Economy, a cheaper route funded with a bank transfer but takes a few business days, and Express, an instant and expensive route funded via debit or credit card.

Remitly Home Page

This payment processor offers different delivery options, including bank deposit, debit card, mobile money, home delivery, and cash pickup, across thousands of locations. However, not all of the options are available in every supported country. On Remitly, users can view live exchange rates and set alerts. 

Remitly imposes limits on the amount of money that can be transferred, but you can increase your limit by climbing up the identity verification tier.

Besides the exchange rate, there’s also an upfront fee that a user should always be aware of when using Remitly. To contact this licensed company, you can check out its FAQ section, use the contact form on its official website, or reach out via phone. You can also track payments online to check a transaction’s status & set text message alerts for the same.

Pros pros

  • Fast or cheap payment option
  • User-friendly & reliable
  • Different payment collection options
  • Competitive exchange rates

Cons cons

  • High credit card fees
  • Fewer features compared to others

8. Xe Money Transfer – Versatile Platform for International Financial Transactions

This global payments company not only facilitates international money transfers but also provides businesses with currency conversion and risk management options, including spot transfers, forward contracts, and options.  

XE Money Home Page

At XE, you can make payments using bank debit, wire transfer, and debit/credit card. A cash pick-up option is also available through its app, which can be used at hundreds of thousands of locations around the world. 

Backed by Euronet, XE charges a transfer fee, an exchange rate markup, and any fees applied by the third party. There’s also a limit on how much money you can send through XE, which depends on your currency, though it is pretty high at about half a million dollars.

As a regulated platform, XE employs anti-fraud measures and offers customer support via phone, email, online chat, and a comprehensive FAQ section. Additionally, XE provides seamless ERP integrations, rate alerts, newsletters, and an IBAN calculator.

Pros pros

  • High limits
  • Competitive rates
  • Cash pick-up option
  • Easy-to-use calculation tool

Cons cons

  • Markup rates & fees on cards
  • Debit card not available

9. Xoom – Leading Option for International Payment Processing

This PayPal-affiliated company allows you to make and receive international payments through bank transfers, cash pick-ups, and home delivery services. However, the availability of particular services may differ by country.

Xoom Home Page

Once you have a PayPal account, you can get started with Xoom right away through its website or app. When making payments, you can either choose a bank account, debit/credit card or use your PayPal balance. 

As for fees, it depends on several factors, including the type and amount of transaction, the payment method chosen, the currency being paid in and received, and the country it is going to. Xoom also limits how much one can send every day, month, and six months. If you want to contact customer support, you can do so via phone or email.

Pros pros

  • PayPal account integration
  • Speedy and secure transactions
  • Cash pickup option
  • Calculator tool

Cons cons

  • Accessibility is pretty limited
  • Can be a bit costly

10. Currencies Direct – Reliable International Money Transfer Platform

To get started with Currencies Direct, you just need to create an account, check the ongoing rates, and then make the payment via card or bank. Meanwhile, the platform’s risk management options include sports contracts, forward contracts, and limit orders.

Currencies Direct Home Page

When it comes to fees, Currencies Direct claims that most of its transfers are free of charge, with any fees involved stated by the platform upfront. However, this means there’s a markup on the exchange rate. Tools available at this company include automatic currency conversion, currency charts, multiple currency management, and rate alerts.

Upon downloading the app, you can order its multi-currency debit card for free, which also incurs no monthly fees. If you have any queries or issues, you can use live chat, call their phone number, or email them. There’s also an option to fill out an online contact form, and a dedicated team is available specifically for business clients.

Pros pros

  • Advanced features like limit orders
  • Multi-currency accounts
  • Recurring payments
  • Specialized support

Cons cons

  • A bit high minimum transfer
  • No cash pick-up

The Best International Payment Collection Services Compared

Here’s a concise view of payment collection platforms in comparison to each other:

Remitly US to Ecuador Fees

 
Payment Method Ideal for Accepted Geos & Fiats Transfer Costs Transfer Speed Min. Transfer Amount Transaction Limits
Airwallex Businesses of all sizes; from startups to big corporations 150+ Countries & 

Currencies 

0.5%

above interbank exchange rates for popular currencies

Instantly in most cases NA Differs for each account, $50k card limit
Western Union To access a wide network of agent locations for cash  200 Countries & 130+ currencies $35-50 US dollars 24 Business Hours NA $50,000 for verified users
Revolut For transfers & access to investment opportunities 150+ Countries & 30+ Currencies Depends on the account type A few business days NA Depends on Account Type
WorldRemit For instant cash collection 130+ Countries & 70+ Currencies  An upfront fee plus exchange rate mark-up Card & cash are instant, banks take longer NA $5,000 per transaction, $9,000 per day
Wise Low-cost international payments 100+ Countries & 140+ Currencies  Exchange rate mark-up 1-2 Business days NA $1.6 million per SWIFT transfer
OFX To make large international transfers at a low cost 170+ Countries & 50+ Currencies  Flat $15 on payments above $10k plus Markup on exchange rate 2-6 Business days  $150  for USD None
Remitly Option to choose between Express and Economy payments 130+ Countries & 100+ Currencies  $1.99 for economy transfers and $2.99 for express transfers Instant with express, a couple of business days in other cases NA Tiered daily & monthly limits, can be increased by getting verified
Xe Money Transfer For regular payments  200+ Countries & 100+ Currencies Exchange rate 1-4 Business days None 535,000 USD
Xoom For those with PayPal accounts 160+ Countries & 100+ Currencies No fee when using PYUSD stablecoin Instant to a few business days None $3K per day limit & $6K monthly limit
Currencies Direct Payment processing at competitive rates 100+ Countries & 40+ Currencies Exchange rate A couple of business days £100 or the equivalent in other currency £300,000 or equivalent

What is an International Payment Collection?

International payment collection involves receiving payments from customers situated in another country. 

To collect payments, a business needs an international payment gateway that facilitates online transactions between customers and businesses in multiple currencies and different countries. These platforms allow businesses to accept a wide range of payment methods, including digital wallets, wire transfers, debit/credit cards, and cryptocurrencies.

How do International Payment Collections Work?

International payments involve the movement of funds from one country to another. As such, they require a change in currency, exchange rate, foreign transaction fees, and fraud protection. 

In cross-border payment processing, the money leaves the customer’s bank and goes to its domestic entity in the merchant’s country. Thereafter, the bank sends the funds to the merchant’s bank account. 

How We Ranked the Top International Payment Collection Platforms

For our ranking, we considered the following factors for your best experience: 

Market & Currency Access

The more countries supported by the international payment collection platform, the more customers you can accept payments from, increasing your market reach and number of consumers. Moreover, support for multiple currencies and a variety of payment methods helps support your expansion into global transactions.

Regulatory Compliance

Currencies Direct Licenses

Every country has its own financial regulations and standards that one must follow. So, a payment collection platform needs to comply with all the relevant rules to avoid legal complications. 

Pricing & Fees

Cost factors that must be considered include subscription fees charged by the various payment gateway providers for their services, payment processing fees for each transaction, free trials, interchange fees, hidden fees, and refund fees.

Fraud Prevention & Security

When testing these payment gateways, we ensure that they have robust security measures in place, such as advanced encryption, to protect sensitive data. 

Real-time Analytics

All best international payment collection platforms track and analyze every transaction, providing them with data on customer behavior, trends, and performance metrics. These insights, offered in real-time, can help your business grow.

Customer Support

For the smooth operation of your business with minimal downtime, you need a platform that provides quick and professional customer service. There must also be different ways to contact support, including email, phone, and live chat.

Are International Payment Collection Platforms Safe?

Regulators consider a payment gateway an intermediary or payment service provider, and, as such, they require certain licenses to operate. These platforms are also required to comply with the Payment Card Industry Data Security Standard (PCI DSS), anti-money laundering (AML) and know-your-customer (KYC) regulations, data protection and privacy laws, and consumer protection regulations.

In addition to regulatory compliance and regular audits, these platforms use the latest encryption technology to make customer transactions, offer maximum security, and prevent fraud. This makes international payment solutions secure and reliable.

International Payment Collection Platform Alternatives

Now, let’s take a look at some prominent alternatives to payment gateways:

  • Traditional Banks: Here, you use traditional banks’ services to receive payments, though this can be really expensive. 
  • Global ACH: Individuals and businesses use the Automated Clearing House network (ACH) to transfer funds locally and internationally.
  • Cryptocurrencies: Digital currencies like Bitcoin and stablecoins offer a fast and cheap alternative to internal payment collection platforms. 
  • Virtual Business Accounts: Much like your standard bank accounts, these virtual business accounts are used to make transactions and maintain balances. 
  • P2P Payments: Peer-to-peer payments involve transactions between two individuals using electronic payment methods like digital wallets.
  • Buy Now, Pay Later: The likes of Affirm, Afterpay, Klarna, and Zip allow businesses to offer their customers the ability to make their payments in fixed installments over time.

Conclusion

In today’s digital world, where geographical boundaries do not exist, online payments have become the new norm. However, to take full advantage of this opportunity and scale your business operations further, your business requires a payment gateway that gives it wide market and currency access, ease of integration, a wide range of payment methods, top-level security, and superior customer support.

Amidst the sea of international payment collection platforms, Airwallex has emerged as a promising solution that offers support for 150+ countries, the ability to collect, hold, and send multiple currencies at absolutely zero or low cost, a batch payments option, flexible transaction limits, a Visa debit card, and seamless integration with several accounting softwares.

To expand your business globally and keep on receiving payments smoothly, try Airwallex today! It is without a shred of a doubt, one of the best international payment collection platforms.

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Gaurav Roy
Editor
Gaurav Roy
Editor

Gaurav is a seasoned content specialist and researcher with over 5 years of remote work experience, engaging with clients across the US, UK, Australia, Israel, Germany, Netherlands, Canada, India, New Zealand, Singapore, and more. His expertise spans email outreach, in-depth research, and versatile content creation. He boasts over 600 research projects completed with AskWonder and has successfully led a team of research analysts for two years. He has a diverse portfolio, having supported companies like Casino Tops Online, Sweep Stakes Casino, PayGamble, Odds Scanner US, and Sambafoot UK, demonstrating his proficiency in the iGaming sector. He has contributed as a…