As businesses expand globally, the need for reliable and cost-effective international payment solutions continues to grow. While Payoneer has been a widely used platform for cross-border transactions, businesses today have more choices than ever—each offering unique features, pricing structures, and integrations tailored to different needs.
This guide explores five alternatives to Payoneer in 2025, comparing their key benefits, fees, and best use cases to help businesses find the right fit.
Let’s take a look at the alternatives.
Payoneer Alternative | Key Services | Best For |
Statrys | Multi-currency business accounts in 11 major currencies, local payments and international payments (SWIFT), FX services with competitive rates, virtual and physical business cards, Xero integration, HK Company Incorporation, and dedicated account managers. | SMEs and sole traders registered in Hong Kong, Singapore, or the BVI looking for seamless cross-border transactions with competitive FX fees, and personalised support |
Wise | Business account supporting multiple currencies, mass payments, debit cards, competitive exchange rates based on the mid-market rate, and API integrations. | Freelancers, small businesses, and global entrepreneurs needing cost-effective international money transfers. |
Revolut | Multi-currency business accounts, local account details, business cards, FX services, Bulk payments, Cryptocurrencies, and APIs. | Companies with a physical presence in the EEA and the UK looking for digital bank accounts that offer trading, investing, and crypto options. |
PayPal | Business accounts, invoicing, global online payment processing, buyer and seller protection, seamless ecommerce and marketplace integrations, and mass payouts. | Freelancers, ecommerce sellers, and businesses needing a widely accepted online payment platform with built-in fraud protection. |
Airwallex | Multi-currency business accounts, virtual corporate cards, FX services with low fees, global payouts, API-driven payment automation, and international expense management. | Scaling businesses and enterprises looking for efficient cross-border payments, automated financial workflows, and expense management solutions. |
Disclaimer: Information in this article is accurate as of 12 February 2025. Please note that details may change. We recommend checking each provider’s website for the most up-to-date information.
1
Statrys
Founded in 2019, Statrys is a payment service platform designed to improve the global payment experience for SMEs and entrepreneurs in Asia.
Holding a Money Service Operator license in Hong Kong, Statrys offers multi-currency business accounts to companies incorporated in Hong Kong, Singapore, and the BVI. These accounts enable businesses to hold, receive, and make payments in 11 major currencies, facilitating seamless cross-border transactions with competitive foreign exchange (FX) services.
Today, Statrys has served over 3,500 SMEs and built an excellent reputation, which earned it the recognition as one of the Top 10 Fintech Companies in Hong Kong by Fintech News Hong Kong in 2024, along with the Fintech Payment category award at the Hong Kong Business Technology Excellence Awards 2024.
Key Services Offered by Statrys
Statrys Key Services | Description |
Multi-Currency Business Account | The business account supports 11 major currencies with a single account number: HKD, USD, EUR, CNY, GBP, JPY, SGD, CHF, AUD, NZD, and CAD. |
Local payments | Pay like a local in 12 currencies, including USD, AUD, INR, EUR, GBP, SGD, IDR, PHP, THB, TRY, KRW, VND |
Virtual and physical prepaid Mastercard® for making purchases in-store and online and withdrawing cash from ATMs in Hong Kong and abroad. | |
Make spot trades and order forward contracts at the rates you prefer | |
Integrate Statrys business account with Xero accounting software to streamline your bookkeeping and cash flow management processes. | |
Set up transfers for later approval based on user role capabilities and have complete control of payment processes. | |
Dedicated Account Manager | Get personalised support from a real person, ensuring a seamless banking experience without automated chatbots. |
Statrys’ Key Fees
Type | Fees |
Account Opening Fee | Free |
Monthly Fee | Free (if you make at least 5 outgoing transfers per month, otherwise HKD 88) |
Minimum Deposit | HKD 0 |
Maximum Transaction Amount | No limit |
Local Payments within Hong Kong | Receiving: Free Sending HKD/CNY: HKD 5 Sending USD: HKD 75 |
International Payments Fees | Receiving: HKD 60 Sending: HKD 85 |
Foreign Exchange Rates | FX Rate: Based on real-time mid-market rates |
Foreign Exchange Fee | From 0.4% for major currencies (HKD, USD, EUR, CNY, GBP, SGD, JPY, AUD, CHF, NZD, CAD) From 0.6% for other currencies (INR, IDR, PHP, KRW, THB, TRY, VND) |
Send local payments in USD, AUD, INR, EUR, GBP, SGD, IDR, PHP, THB, TRY, KRW, VND | HKD 25 - HKD 50 |
Statrys Pros and Cons
- Multi-currency accounts in 11 major currencies, meeting most international transfer needs.
- Local payment support in 12 currencies, reducing transaction fees for businesses operating in Asia.
- Competitive FX rates with transparent fees and advanced FX tools like forward contracts.
- Dedicated human customer support, ensuring personalised assistance.
- Available only for companies registered in Hong Kong, Singapore, or the BVI
- Prepaid business cards require a balance top-up before use, making them different from traditional debit cards.
- Statrys has a monthly fee of HKD 88 for accounts that have less than 5 outgoing transfers.
Who Should Use Statrys?
✅ Companies incorporated in Hong Kong, Singapore, and the BVI seeking a primary or secondary business account with multi-currency support.
✅ Businesses regularly handle foreign currencies and want to simplify overseas transfers, reducing costs and exchange rate complexities.
✅ Business owners who prefer easy to reach human customer support and prefer personalised assistance over automated chat responses.
2
Wise
Wise[1], originally launched as TransferWise in 2011, is a regulated fintech based in the UK. [2] It provides international money transfer services to individuals and businesses. With Wise, users can transfer money to over 70 countries at competitive conversion rates.
Wise products also include virtual accounts, batch payments, debit cards, and APIs for automation, making cross-border payments simpler and more efficient.
In Hong Kong, the company is regulated by the Customs and Excise Department (CCE) as a Money Service Operator (MSO), ensuring businesses can manage cross-border transactions while remaining compliant with local financial regulations. It also has offices across Asia-Pacific, Europe, the Middle East, and North America, though these locations are not open to the public.[3]
Key Services Offered by Wise
Wise Key Services | Description |
Multi-Currency Business Account | Hold and manage funds in 40+ currencies, enabling businesses to send, receive, and spend internationally with ease. |
Local Account Details | Get local bank details in 9 currencies, including USD, EUR, GBP, AUD, allowing businesses to receive payments as if they had a local bank account. |
International Money Transfers | Transfer money overseas based on mid-market rates across 80+ countries. |
Business Account | Transfers and spending in 40+ currencies Open up to 9 local currency accounts: GBP, EUR, AUD, NZD, SGD, RON, CAD, HUF, and TRY. |
Digital Wallets | Enable clients to securely hold and transfer funds in over 70 currencies across different countries and payment methods with built-in compliances. |
Debit Card | Pay online and in-store in 40+ currencies, earn 0.5% cashback on all eligible transactions and order employee expense cards. Cards are issued on either Visa® or Mastercard® networks. *Eligibility varies by location |
Batch Payments | Upload a single CSV file to send 1,000 payouts at a time. |
FX Services | Convert funds between different currencies based on the mid-market exchange rate. |
Wise API | API to automate and streamline workflows. |
Wise’s Key Fees
Fees vary by location. Here are the main fees for Wise business accounts in Hong Kong [4]:
Type | Fees |
Fees for Sending Money | From 0.26% varies by currencies |
Card Fees | No card available in Hong Kong |
FX Conversion Fees | From 0.26% |
Fees for Receiving Local Payments | Free |
Fees for Receiving USD Wire | USD 6.11 |
Wise Pros and Cons
- Supports a wide range of currencies
- Accessible in most countries
- Offers both personal and business accounts
- Fee details can be intricate, requiring careful review
- Limited features in some regions. For example, no card available in Hong Kong and the US
Who Should Use Wise?
✅ Individuals and businesses of all sizes seeking an international money transfer platform that supports a diverse range of currencies.
✅ Businesses that often deal with cross-border transactions and recurring payments.
✅ Businesses seeking the capability for batch payments.
Tip: Discover full features and fees in our Wise business account review and learn the key things to know before opening a Wise business account in our article.
3
Revolut
Revolut, founded in 2015, is a leading neobank headquartered in the UK. The company offers a range of digital financial services to individuals and companies worldwide. Revolut operates as a licensed bank in specific regions like the EEA through a license in Lithuania and has recently obtained a restricted UK banking license. [5]
Among its offerings, Revolut provides multi-currency accounts, local and international payment transfers, virtual and physical payment cards, foreign exchange services, cryptocurrency transactions, and APIs.
Revolut has been serving over 500,000 business customers around the world.
Key Services Offered by Revolut
Revolut Key Services | Description |
Multi-Currency Business Account | Receive and send payments in over 25 currencies: GBP, EUR, USD, ZAR, TRY, SAR, SGD, SEK, RON, PLN, NZD, NOK, MXN, JPY, ILS, HUF, HKD, DKK, CZK, CHF, CAD, AUD, BGN, THB, and AED |
Local Accounts | Collect and send funds in GBP, EUR, and USD like a local |
Business Card | Use virtual and physical debit cards to spend online or at stores and withdraw cash from ATMs worldwide. Also, cards are compatible with Apple Pay and Google Pay if your device supports NFC. |
FX Services | Make spot trades and order forward contracts at the rates you prefer |
Crypto | Buy, hold, and sell cryptocurrencies within a few tabs |
Bulk Payment | Pay suppliers and employees around the world in bulk by uploading a file, up to 1,000 payments. |
Integration | Integrate with QuickBooks, WooCommerce, and Slack, and more. |
Business APIs | Create custom integrations to connect your company’s applications with your Revolut Business account. |
Revolut’s Key Fees
Revolut's fees vary depending on the plan. Here's a quick overview of their business account fees [6] [7]:
Type of Fee | Plans and Amount |
Monthly Fee | Basic: Free Grow: GBP 19 Scale: GBP 79 Enterprise: Custom |
International Transfers Fee | Basic: GBP 5 Grow: GBP 5 after the first 5 transfers Scale: GBP 5 after the first 25 transfers |
Local Transfers Fee | Basic: GBP 0.20 after the first 5 transfers Grow: GBP 0.20 after the first 100 transfers Scale: GBP 0.20 after the first 1,000 transfers |
Currency Exchange Fee | Basic: 0.6% - 1% after the first GBP 1,000 Grow: 0.6% - 1% after the first GBP 10,000 Scale: 0.6% - 1% after the first GBP 50,000 |
ATM Withdrawal Fee | All Plans: 2% |
Team Members Fee | All Plans: GBP 5 per person per month |
Revolut's Pros and Cons
- Revolut is a licensed bank in the EEA and the UK, which means it can provide an additional range of financial offerings, including investment options.
- Offers crypto trading, which is rare among other providers.
- Provides multi-currency accounts in 25+ currencies, making it easier for businesses to manage cross-border payments efficiently.
- Higher fees for premium plans, especially for larger businesses needing high transaction limits.
- Features vary greatly by region
- You may need to have a physical presence in an eligible country to open an account.
Who Should Use Revolut?
✅ Businesses registered in the EEA and the UK looking for digital banking options with a licensed bank.
✅ Business owners that need API functionality to streamline their financial operations.
✅ Businesses looking for cryptocurrency investment from the regulated platform that supports buying, holding, and selling digital assets.
Tip: Explore the Revolut business account, including its features and fees in our Revolut business account review, and learn how to open a Revolut business account online.
4
PayPal
PayPal, founded in 1998, is a globally recognised online payment platform serving individuals, freelancers, and businesses. Supporting over 200 and more than 25 currencies, it enables seamless international transactions.
Its business solutions include multi-currency accounts, invoicing, mass payments, merchant services, and integrations with platforms like Shopify and WooCommerce. PayPal also offers business debit cards and API solutions, allowing businesses to manage transactions efficiently. [8]
To ensure compliance with local regulations, Paypal operates as a licensed Stored Value Facility (SVF) under the regulation of the Hong Kong Monetary Authority (HKMA), providing secure digital payment solutions in the region. [9]
Key Services Offered by Paypal
PayPal Key Services | Description |
Multi-Currency Business Account | Send and receive payments in 25+ currencies across 200+ countries for seamless global transactions. |
Debit Card | Spend online or in-store, withdraw cash from ATMs, and earn up to 5% cashback on eligible purchases. |
Payment Collection | Accept payments via links, installments, cards, mobile wallets, QR codes, Pay Later, and POS solutions. |
Business Payment | Automate mass payouts, international transfers, and recurring subscriptions. |
Business Management & Reporting | Use analytics, invoicing, and reporting tools with QuickBooks, Xero, and Zoho integrations. |
Business Loans | Apply for business loans with flexible terms ranging from 17 to 52 weeks, offering a fully online application process. |
Fraud Protection & Risk Management | AI-powered fraud detection, seller protection, and dispute resolution. |
3rd Party Integrations | Connect with Shopify, WooCommerce, Etsy, eBay, and Magento for secure checkout. |
Paypal’s Key Fees
Like most payment providers, PayPal charges fees based on transaction type and region. Below are the key costs businesses should consider. [10]
Type | Fee |
Account Opening Fee | Free |
Monthly Fee | Free |
Receive Payments | 3.90% + HKD 2.35 An additional 0.50% applies to international transactions. |
Send Bulk Payment | 2.00% with a maximum fee cap based on currency |
Withdrawal from PayPal to Local Bank | Free for amounts ≥ HKD 1,000 HKD 3.50 for amounts < HKD 1,000 |
Foreign Exchange Rate and Fee | FX rate: Based on the wholesale exchange rate. FX fee: 3–4%, depending on the type of conversion. |
Paypal Pros and Cons
- Available in 200+ countries and supports 25+ currencies, ideal for global transactions.
- Accepts credit/debit cards, PayPal, Venmo, and Pay Later, offering payment flexibility.
- Provides 24/7 fraud protection to reduce chargeback risks.
- Integrates with ecommerce platforms, accounting tools, and APIs for seamless payments.
- Transaction fees vary by provider, with some alternatives offering lower fees for international payments.
- Account freezes or limitations can disrupt cash flow.
- Customer support issues reported for dispute resolution.
- Chargeback policies may favour buyers, increasing seller risks.
Who Should Use Paypal?
✅ Businesses operating globally that need a payment platform accepted in over 200 countries with multiple payment options like PayPal, Venmo, and Pay Later.
✅ Merchants and eCommerce sellers looking for seamless online, in-person, and bulk payment solutions with built-in fraud protection.
✅ Businesses interested in crypto transactions, allowing them to buy, hold, and sell digital assets through PayPal.
Airwallex
Founded in 2015 in Melbourne, Australia, Airwallex is a licensed payment service provider regulated in Hong Kong as a Money Service Operator (MSO) and a Stored Value Facility (SVF) provider under the Hong Kong Monetary Authority (HKMA). It also operates under regulatory frameworks in Australia, Singapore, the UK, and the US. [11]
It offers multi-currency accounts, foreign exchange solutions, and global payment services, allowing businesses to manage international transactions efficiently.
Currently, it supports 150+ countries and over 40 currencies, with key services such as borderless business accounts, virtual and physical debit cards, expense management, and API integrations for financial automation. [12]
Key Services Offered by Airwallex
Airwallex Key Services | Description |
Multi-Currency Business Account | Send and receive funds in 23+ currencies, simplifying international transactions. |
International Transfers | Send high-speed international payments with competitive exchange rates to 150+ countries. |
Business Debit Cards | Issue corporate cards instantly for global business expenses, with spending controls and real-time tracking. |
Expense Management | Track and control business expenses and reimbursements in real-time with integrated tools. |
Payment Collection | Accept global payments with support for multiple payment methods and currencies, enabling seamless international transactions. |
Integrations | Sync transactions with Xero, Amazon, Shopify, and other platforms to simplify accounting and ecommerce operations. |
Airwallex’s Key Fees
Pricing may vary based on location. Below are the main fees for Airwallex business accounts in Hong Kong. [13]
Type of Fee | Amount |
Account Opening Fee | No setup or maintenance fees. |
Transfers | Free for local payments HKD 120-200 for SWIFT transfers (SHA & OUR) |
Card Payments | 3.30% + HKD 2.35 |
FX Conversion | From 0.2% above interbank rates (varies by currency). |
Business Debit Cards | No issuance, annual, or foreign transaction fees. |
Expense Management | HKD 40 per cardholder per month. |
Airwallex Pros and Cons
- Provides cost-effective international payments with competitive FX rates and low transfer fees.
- Supports multi-currency accounts in 23+ currencies, simplifying global transactions.
- Integrates seamlessly with ecommerce platforms, accounting tools, and API-based automation.
- Airwallex operates as a fully digital platform, which may differ from traditional in-person banking services.
- A 0.3% fee applies to each incoming transaction from a non-linked bank account.
- No ATM withdrawals available.
Who Should Use Airwallex?
✅ Businesses operating internationally that need a multi-currency account and cost-effective cross-border payments.
✅ Companies handling high transaction volumes looking for FX optimization, bulk payouts, and API automation.
✅ Ecommerce and digital businesses that require seamless integrations with payment gateways and accounting tools.
Tip: Considering Airwallex? Read our Airwallex review to learn more about its services and fees.
Final Note
International transactions are a vital part of modern business, and having the right financial setup can make a significant difference. Whether you're selecting your first international business account or considering an additional account to optimise transactions, choosing the right solution ensures greater efficiency and flexibility.
Before getting started, take the time to assess your business needs, compare key features, and ensure your choice supports your long-term financial strategy.
FAQs
What is Payoneer?
Payoneer is a financial services company that provides online money transfer and digital payment services. It offers a platform for businesses, online sellers, freelancers, and professionals to make and receive payments globally as easily as they do locally.
Is Payoneer legit?
What are the best alternatives to Payoneer?
Is Revolut similar to Payoneer?
How do Wise and Payoneer compare?
Sources
Disclaimer
Statrys competes directly with Payoneer in the payment industry, but we are committed to providing an unbiased and thorough review. Click More info to read the full disclaimer on our review.
