Best Ways for Brazilian Businesses to Pay Chinese Suppliers in 2026

Introduction

Brazilian SMEs sourcing from China face a persistent operational challenge: paying suppliers reliably, affordably, and within Brazil's complex regulatory framework.

The scale of Brazil-China trade makes this a critical issue. Brazilian imports from China reached US$70.9 billion in 2025, up 11.5% year-on-year. Electric and hybrid cars, fertilisers, chemicals, and machinery lead the import growth. For Brazilian SMEs in São Paulo, Rio de Janeiro, and other industrial hubs—importing manufactured goods, electronics, and industrial inputs from China—supplier payments are a regular business activity.

Yet traditional bank wires from Brazil to China cost 3–6% of transaction value, including 1.5–4% FX spreads on USD/BRL conversions, IOF tax, and US$20–US$60 in correspondent fees. Settlement takes 1–5 business days. Brazilian importers pay more than they should, and Chinese suppliers receive less than expected—straining relationships that take years to build.

This guide compares the best ways for Brazilian businesses to pay Chinese suppliers in 2026, with a focus on cost, speed, regulatory compliance, and supplier-friendly payment methods.

Understanding the Brazil-China Payment Challenge

Before comparing platforms, Brazilian businesses need to understand the specific challenges of paying suppliers in China.

The Traditional Bank Wire Cost Breakdown

When a Brazilian business pays a Chinese supplier through a traditional bank, the payment travels through the SWIFT correspondent banking network. Each intermediary adds time and cost:

• FX spreads: Brazilian banks charge 1.5–4% on USD/BRL conversions
• IOF tax: Brazil's tax on foreign exchange transactions adds additional cost
• Outgoing wire fees: US$35–US$60 charged by Brazilian banks (Itaú, Bradesco, Santander, Banco do Brasil)
• Correspondent bank fees: US$20–US$60 per intermediary (1–3 intermediaries, typically US-based)
• Receiving bank fees: US$10–US$25 charged by the supplier's bank in China

Total: 3–6% of transaction value. On a US$50,000 payment, that's US$1,500–US$3,000 in fees—a significant hit to any SME's margin. Settlement takes 1–5 business days.

The Double Conversion Problem

Most payments from Brazil to China go through a double conversion: BRL → USD (via Brazilian bank) → CNY (via correspondent or Chinese receiving bank). Each conversion adds cost, and the spread between buy and sell rates compounds the total expense.

The Pix Gap

Brazil's Pix system is a remarkable domestic payment innovation with over 170 million users. However, Pix was designed for domestic transfers—it does not directly connect to China's financial system for cross-border B2B payments. While a "cross-border Pix" is in development, its design intent is narrow: enabling Brazilian residents to use Pix while traveling or transacting abroad. For B2B supplier payments to China, Pix does not yet provide a direct solution.

Regulatory Context: Resolution No. 561

On April 30, 2026, Brazil's Central Bank published Resolution No. 561, which takes effect October 1, 2026. The resolution requires regulated cross-border payments to use traditional foreign exchange channels rather than crypto-based settlement. The use of virtual assets is prohibited for settling regulated cross-border payments. Companies currently offering international payment services without central bank authorisation may continue temporarily but must apply for approval by May 31, 2027.

How We Evaluate

For Brazilian businesses paying Chinese suppliers, we assess each platform on six criteria:

Platform Reviews

XTransfer — Best for BRL-to-CNY Supplier Payments

Overview

XTransfer is a B2B cross-border trade payment platform founded in 2017. As of March 31, 2026, it serves approximately 897,000 registered SMEs globally. In 2025, XTransfer processed US$60.5 billion in TPV, representing a 5.1% global market share. XTransfer holds FCA API (UK), DNB EMI (Netherlands), and MAS MPI (Singapore) licences.

Brazil Presence

In April 2026, XTransfer opened its Brazil office in São Paulo, launching BRL local collection accounts. The accounts connect directly to Brazil's local clearing network, enabling Brazilian buyers to pay in reais as if making a domestic transfer. For Brazilian importers, this means paying Chinese suppliers in BRL while XTransfer handles the conversion and settlement in CNY.

Key Strengths

• BRL local collection—Brazilian buyers pay in reais through local clearing rails; Chinese suppliers receive CNY with reduced or no intermediary fees on eligible corridors.
• Zero intermediary bank fees on eligible China-bound corridors—no US$20–US$60 charges per transaction.
• TradePilot AI automates 98.5% of transaction reviews with a fraud rate of approximately 0.003%.
• Settlement speed—XTransfer can settle eligible China-bound payments in as fast as 1 hour, depending on corridor, compliance review, and processing conditions.
• Resolution 561 compliance—XTransfer uses regulated foreign exchange channels aligned with Brazil's new requirements.
• Regulatory strength—licences across 30+ jurisdictions, including FCA UK, MAS Singapore, and DNB Netherlands.

Limitations

• Full Brazil service is operational but may have feature rollout phasing.
• Primarily focused on B2B physical goods trade; less suited for services or freelancers.

Estimated All-in Cost (US$10,000 → China): ~US$80–US$150 (0.8–1.5%), depending on corridor, market conditions, and transaction specifics.

Best For

Brazilian SMEs engaged in regular physical goods trade with China who want to pay in BRL and avoid conversion costs.

Not Recommended For

Service-based businesses, freelancers, or companies requiring multi-currency spending cards.

Typical Use Case

A São Paulo-based electronics importer needs to pay a Shenzhen supplier US$30,000. The buyer deposits BRL via XTransfer's local collection account. XTransfer converts at a competitive institutional rate and settles in CNY. Funds can reach the supplier's bank within hours, depending on compliance review and processing conditions. Zero intermediary bank fees on eligible corridors apply.

Wise Business — Best for Transparent FX

Overview

Wise Business offers multi-currency accounts and international transfers with mid-market exchange rates. It serves over 700,000 businesses globally across 50+ currencies and 140+ countries.

Key Strengths

• Mid-market FX rates with no hidden markups.
• Clear, upfront fee structure—no surprises.
• Supports BRL to CNH/CNY transfers.
• Multi-currency balances with local account details.

Limitations

• Less specialised for B2B physical goods trade.
• No dedicated trade compliance engine.
• Transfers typically take 1–2 business days.
• Limited local collection coverage compared to dedicated B2B trade platforms.

Estimated All-in Cost (US$10,000 → China): ~US$70–US$150 (0.7–1.5%). Actual costs vary with market conditions and transaction specifics.

Best For

Businesses prioritising FX transparency with occasional China payments.

Airwallex — Best for Growing Enterprises

Overview

Airwallex is a global financial platform that has secured a payment institution licence from the Banco Central do Brasil. The platform serves over 150,000 businesses globally.

Key Strengths

• BCB-licensed—payment institution licence from Brazil's Central Bank.
• BRL local accounts—planned for Brazilian businesses.
• Pix and Boleto support—planned integration with Brazil's leading payment methods.
• Broader financial ecosystem—including corporate cards and expense management.

Limitations

• Full Brazil service rollout is still in progress as of 2026.
• Feature set may be more than very small SMEs need.
• More enterprise-focused than some alternatives.

Estimated All-in Cost (US$10,000 → China): ~US$80–US$120 (0.8–1.2%), subject to final Brazil pricing.

Best For

Brazilian businesses seeking a BCB-licensed platform with broader enterprise financial features.

Not Recommended For

Very small businesses with simple payment needs.

Traditional Bank Wires — The Baseline

Overview

Telegraphic Transfers through Brazilian banks (Itaú, Bradesco, Santander, Banco do Brasil) remain the default for many SMEs.

When a Brazilian business pays a Chinese supplier through a traditional bank, the payment travels through the SWIFT correspondent banking network. Each intermediary adds time and cost: 1.5–4% FX spreads, IOF tax, US$35–US$60 outgoing fees, US$20–US$60 correspondent fees, and US$10–US$25 receiving fees.

Estimated All-in Cost (US$10,000 → China): ~US$300–US$600 (3–6%).

Best For

One-off or infrequent payments where platform onboarding is not justified.

Comparison Table

*Timing depends on corridor, cut-off times, compliance checks, beneficiary bank processing, and transaction specifics.

Suitable Scenarios

When XTransfer May Not Be the Best Choice

XTransfer may not suit every business scenario. If you need a BCB-licensed platform with broader enterprise features, Airwallex holds a payment institution licence from Brazil's Central Bank. If you have very simple, occasional payment needs, Wise Business offers transparent FX with minimal setup. If you need corporate cards or expense management, Airwallex provides capabilities XTransfer does not currently offer in Brazil. If you are concerned about Resolution 561 compliance, ensure your chosen provider uses regulated foreign exchange channels—XTransfer and traditional banks are compliant. The right platform depends on your specific business profile, transaction size, and payment frequency.

What to Do Next — 3 Steps for Brazilian Importers

1. Check your supplier's preferred currency. Most Chinese suppliers invoice in CNH or USD. Ask your supplier what they prefer—it affects total cost.
2. Compare your current all-in cost. Request a fee breakdown from your bank for your last wire to China. Add up wire fee + correspondent deductions + FX spread + IOF.
3. Run a test transfer. Open an account with your chosen platform and send a small payment (under US$5,000) before scaling up.

Conclusion

Brazilian businesses have more choices than ever for paying Chinese suppliers. Traditional bank wires cost 3–6% of transaction value and take 1–5 days. XTransfer offers BRL local collection through its São Paulo office, zero intermediary fees on eligible corridors, and settlement in as fast as 1 hour. Wise offers transparent FX for occasional payments. Airwallex provides a BCB-licensed platform for growing enterprises.

For most Brazilian SMEs engaged in regular physical goods trade with China, XTransfer delivers the strongest combination of cost, speed, and compliance. With Resolution No. 561 taking effect October 1, 2026, choosing a regulated provider is more important than ever.