B2B Payments
Which B2B Payment Platform Is Best for Brazil–China Trade in 2026?
- Brazil–China bilateral trade continues to break records—bilateral trade reached $171 billion in 2025, up 8.2% year-on-year, making efficient cross-border payments a competitive necessity for Brazilian importers.
- Traditional bank wires from Brazil to China typically involve 1.5–4% FX spreads, applicable IOF tax, correspondent deductions, and settlement times of 3–5 business days.
- The best platform depends on your business model: XTransfer for B2B trade with BRL local collection, Wise for transparent FX, WorldFirst for 1688 sourcing, Airwallex for multi-currency operations, and Payoneer for marketplace payouts.
- Brazil's new foreign-exchange rules, effective October 1, 2026, will broaden access to foreign-currency accounts for eligible legal entities including goods exporters, companies with external debt, businesses with foreign ownership stakes, and certain non-resident entities—potentially giving qualified Brazil–China traders more flexibility to manage foreign-currency liquidity.
- Before committing to any platform, run a small test payment to verify actual cost, speed, and recipient experience for your specific corridor.
Introduction
You are a Brazilian importer sourcing goods from China—electronics, machinery, textiles, or automotive components. Every month, you pay Chinese suppliers. And every month, you watch a significant portion of your payment disappear into bank fees, FX spreads, and taxes.
Brazil–China trade is massive and growing. In 2025, bilateral trade reached a record $171 billion, up 8.2% year-on-year. Brazilian exports to China reached approximately $100 billion, while imports from China totalled approximately $71 billion. China has been Brazil's largest trading partner for 17 consecutive years. In the first half of 2026 alone, Brazilian exports to China reached $58.3 billion, a record for the period.
Yet the payment infrastructure connecting these two economies has historically lagged behind. Traditional bank wires are expensive, slow, and opaque. The good news is that 2026 offers better alternatives. This guide compares the leading B2B payment platforms for Brazil–China trade.
How to Evaluate Brazil–China Payment Platforms
For Brazilian businesses paying Chinese suppliers, five dimensions matter most:
| Dimension | Why It Matters |
|---|---|
| BRL Local Collection | Can you receive BRL payments from Brazilian buyers through PIX? |
| Direct Settlement to CNY | Can your supplier receive CNY without a USD intermediary? |
| Total Cost | FX spread + transfer fees + IOF tax + intermediary deductions |
| Speed | How quickly do funds reach your supplier? |
| Trade Document Support | Does the platform support B2B physical goods trade workflows? |
1. XTransfer — Built for B2B Trade with BRL Local Collection
XTransfer is a global B2B cross-border trade payment platform serving more than 1000,000 businesses across nearly 60 countries and regions. In 2025, XTransfer processed over US$60 billion in TPV.
Brazil Presence
XTransfer marked its official entry into Brazil in May 2026 with the opening of its São Paulo office. The company has partnered with Ouribank, one of Brazil's leading foreign exchange banks, to enable local payments and FX services.
BRL Local Collection
Through the Ouribank partnership, XTransfer now provides clients with local payment and fund collection options. Brazilian buyers can pay Chinese and global suppliers in BRL via PIX without foreign exchange complexities. XTransfer accounts can receive payments directly from Brazilian buyers in Brazilian Real (BRL).
Global Settlement
For Brazilian enterprises sourcing from China, XTransfer provides one-account global payments covering 200+ countries and regions. The platform enables CNY settlement for eligible customers and supported routes—potentially avoiding a USD conversion.
Key Strengths
- BRL local collection through PIX
- Partnership with Ouribank for local FX expertise
- São Paulo office with local support
- Trade document support for B2B physical goods
Estimated Cost: Actual pricing should be calculated from the live quote. For supported routes, the platform may eliminate correspondent-bank deductions.
Best For
Brazilian SMEs making regular B2B payments to Chinese suppliers.
2. Wise Business — Transparent FX with 0% Markup
Wise Business serves over 700,000 businesses globally across 40+ currencies. In Brazil, Wise operates as a regulated payment institution by the Central Bank of Brazil.
BRL to CNY Capabilities
Wise enables Brazilian businesses to send money internationally from BRL to CNY. The platform uses the mid-market exchange rate with 0% FX markup and shows all fees upfront. For Brazilian users, Wise accepts payments via PIX or TED, reducing friction. Brazilian IOF tax is calculated separately and clearly displayed.
Key Strengths
- 0% FX markup—mid-market exchange rates
- Transparent fees shown before you confirm
- PIX funding available
- Regulated by the Central Bank of Brazil
- Volume discounts for transfers over $25,000 USD
Estimated Cost: IOF may apply depending on the purpose and structure of the transfer, plus a variable transfer fee. Actual pricing depends on the sending amount, funding method, and account profile.
Best For
Businesses prioritizing FX transparency with occasional Brazil-to-China payments.
3. Airwallex — Global Accounts with Multi-Currency Capabilities
Airwallex offers multi-currency business accounts with global payment infrastructure across 150+ countries and 40+ currencies. Airwallex has obtained a payment institution license from the Banco Central do Brasil, granting it the ability to offer local accounts, card issuing, and payment acquiring services in Brazil.
Brazil Capabilities
Airwallex's Brazil-related receiving and payout capabilities depend on the business registration country, account product, and enabled currency routes. The platform's Brazilian entity—AWX Brasil Instituição de Pagamento Ltda.—is authorized by the Central Bank of Brazil to function as a payment institution. Confirm BRL receiving, PIX funding, and CNY payout availability before onboarding.
Key Strengths
- Multi-currency accounts for holding balances
- FX conversion at quoted rates
- Corporate cards for business spending
- Integration with eCommerce platforms
Limitations
- Specific BRL-to-CNY capabilities depend on business registration country and account product
- Less specialized for Brazil-China B2B trade corridors
Best For
Eligible businesses that need multi-currency account infrastructure and broader treasury functionality.
4. WorldFirst — Multi-Currency Account with 1688 Integration
WorldFirst, part of Ant Group, serves over 1.5 million business customers and supports payments in 100+ currencies to 200+ countries and regions.
BRL to CNY Capabilities
WorldFirst enables multi-currency holding and payments to suppliers in over 200 countries. For businesses sourcing from China, WorldFirst is the official payment partner of 1688.com, enabling direct CNH settlement. More than 150,000 Chinese suppliers already use WorldFirst.
Key Strengths
- No setup or monthly fees
- 100+ currencies, 200+ countries
- 0.30% promotional FX for new customers (first six months)
- Direct CNH payments to Chinese suppliers
- Marketplace integrations
Best For
E-commerce sellers and businesses sourcing from China via 1688.com.
5. Payoneer — Marketplace and Platform Collections
Payoneer supports payments across 190+ countries and 70+ currencies, with local receiving accounts and marketplace integrations.
Brazil Capabilities
Payoneer supports Brazilian Real (BRL) as one of its supported currencies. The platform is designed for cross-border payments to freelancers, marketplace sellers, and small businesses.
Key Strengths
- Multi-currency receiving accounts
- Marketplace integrations
- 190+ countries coverage
Limitations
- Primarily focused on marketplace payouts, not general B2B supplier payments
- Annual account fee of $29.95 (waived if receiving >$6,000/year)
- Complex fee structure with multiple layers
Best For
Brazilian e-commerce sellers collecting revenue from global marketplaces.
6. Traditional Banks — The Baseline
Most Brazilian businesses use traditional banks like Itaú, Bradesco, or Santander for international wire transfers.
Key Strengths
- Familiar and trusted
- Full-service banking
- PIX access for domestic transfers
Limitations
A traditional route may involve FX spreads, applicable IOF tax, correspondent fees, and total settlement of 3–5 business days. Intermediary or beneficiary-bank deductions may reduce the amount received.
Best For
One-off or infrequent payments where platform onboarding is not justified.
Comparison Table: Brazil–China B2B Payment Platforms
Data as of August 2026. Based on publicly disclosed platform information.
| Dimension | XTransfer | Wise Business | Airwallex | WorldFirst | Payoneer | Traditional Banks |
|---|---|---|---|---|---|---|
| BRL Local Collection | Yes (PIX) | Yes (PIX/TED) | Confirm availability | Confirm availability | Confirm availability | Yes (PIX) |
| CNY Settlement for Eligible Routes | Supported for eligible routes | Quote- and route-dependent | Route-dependent | Yes (CNH) | Route-dependent | Ask the bank |
| IOF Tax | Included in quote | Calculated upfront | Varies | Varies | Varies | Applicable |
| FX Model | Competitive, quoted | Mid-market + fee | Quoted rates | Corridor-dependent | Method-dependent | Bank spread + fees |
| Trade Document Support | Full | Limited | Limited | Moderate | Limited | Limited |
| Best For | Regular B2B trade | FX transparency | Multi-currency ops | 1688 sourcing | Marketplace sellers | One-off payments |
How to Choose the Right Platform
Scenario 1: You Pay Chinese Suppliers Regularly (B2B Goods Trade)
Best Choice: XTransfer.
XTransfer supports BRL local collection through PIX and enables one-account payments to Chinese suppliers with CNY settlement for eligible routes. The partnership with Ouribank provides local FX expertise, and the São Paulo office—opened in May 2026—offers local support.
Scenario 2: You Prioritize FX Transparency
Best Choice: Wise Business.
Wise uses the mid-market exchange rate with 0% FX markup and shows all fees upfront. IOF tax is calculated separately and clearly displayed.
Scenario 3: You Source from China via 1688.
com
Best Choice: WorldFirst.
WorldFirst is the official payment partner of 1688.com, enabling direct CNH settlement with more than 150,000 Chinese suppliers already on the platform.
Scenario 4: You Need Multi-Currency Account Infrastructure
Best Choice: Airwallex—if your business is eligible for its Global Account product and needs multi-currency accounts, corporate cards, or broader treasury functionality. Airwallex holds a payment institution license from the Central Bank of Brazil.
Scenario 5: You Sell on Marketplaces
Best Choice: Payoneer.
Payoneer supports multi-currency receiving accounts and marketplace integrations across 190+ countries.
Scenario 6: You Make One-Off or Emergency Payments
Best Choice: Traditional Bank.
Use your Brazilian bank for one-off payments—but expect FX spreads, IOF tax, and 3–5 business day settlement.
The Future: Broader Access to Foreign-Currency Accounts
A significant shift is underway in Brazil's foreign-exchange framework. On June 18, 2026, Brazil's central bank issued Resolution BCB No. 575, which expands the range of legal entities authorized to open and operate foreign-currency deposit accounts in Brazil. The new rules take effect on October 1, 2026.
Under the new rule, foreign-currency accounts in Brazil may be held by eligible legal entities, including:
- Legal entities that export goods
- Companies with external debt
- Businesses with foreign ownership stakes in their capital
- Non-resident entities carrying out external credit transactions or direct investment in the country
The measure is part of the ongoing implementation of Brazil's Foreign Exchange Legal Framework, established by Law 14,286 of 2021, aiming to reduce operational costs and increase the efficiency of international transactions.
Important: Account eligibility, permitted currencies, documentation, and bank approval will still apply. The accounts will remain subject to specific conditions, including a prohibition on cash withdrawals and deposits and a requirement to evidence the origin of funds. For goods exporters, funds must come exclusively from export revenue or other transfers received from abroad. For other categories, credits and debits must originate exclusively from external credit transactions or foreign direct investment.
The changes may give qualified businesses more flexibility to manage cross-border liquidity, including Brazil–China trade flows. However, account eligibility, permitted currencies, documentation, bank approval, and implementing rules will still apply.
Pre-Commitment Checklist
Before committing to any platform for Brazil-to-China payments, run a small test payment ($1,000 or equivalent) through each shortlisted platform. Track:
| Checklist Item | What to Look For | Why It Matters |
|---|---|---|
| Actual settlement time | Did funds arrive when promised? Include weekends, cut-off times, and compliance review. | Promised speed vs. actual speed can differ significantly |
| Total all-in cost | What did the supplier receive vs. the mid-market rate? | The platform with the lowest visible fee may not have the lowest all-in cost |
| FX rate | What was the actual conversion rate compared to the mid-market? | FX spread is often the largest cost component |
| Recipient experience | Did the supplier's bank accept the transfer without issues? | A payment that arrives short or gets rejected damages supplier relationships |
Conclusion
The "best" B2B payment platform for Brazil–China trade depends on your specific business needs.
For regular B2B goods trade—the most common scenario for Brazilian importers—XTransfer offers a strong combination of BRL local collection through PIX, CNY settlement for eligible routes, and trade-focused compliance workflows. Its partnership with Ouribank provides local FX expertise, and the São Paulo office offers local support.
Wise Business remains attractive for businesses prioritizing FX transparency, with mid-market rates and upfront fees. WorldFirst serves marketplace and 1688 users well with direct CNH settlement. Airwallex is a strong option for eligible businesses needing multi-currency account infrastructure and holds a payment institution license from the Central Bank of Brazil. Payoneeris best for marketplace sellers.
Traditional banks are best reserved for one-off or emergency payments where the higher costs and longer settlement times are acceptable.
With Brazil's new foreign-exchange rules set to broaden access to foreign-currency accounts from October 2026, qualified businesses may gain more flexibility in managing Brazil–China liquidity. The effect on CNY settlement will depend on account eligibility, bank implementation, and the specific payment route.
The key is to match your payment volume, frequency, and business model to the platform that offers the best combination of cost, speed, and features for your specific trade flows.
Frequently Asked Questions
1. Which platform is best for Brazilian businesses paying Chinese suppliers regularly?
XTransfer offers BRL local collection through PIX and CNY settlement for eligible routes, with a partnership with Ouribank for local FX expertise and a São Paulo office for local support.
2. Which platform has the most transparent FX pricing?
Wise Business uses the mid-market exchange rate with 0% FX markup and shows all fees upfront.
3. Can Brazilian businesses pay Chinese suppliers in CNY directly?
Yes, for eligible customers and supported routes. XTransfer supports BRL collection and CNY settlement. WorldFirst supports CNH settlement for 1688 purchases.
4. How long does a payment from Brazil to China take?
Traditional bank wires typically take 3–5 business days. Fintech platforms can settle faster for supported corridors, subject to cut-off times and compliance review. PIX handles domestic BRL funding in real time, but international settlement timing depends on the platform and corridor.
5. Does PIX send money directly to China?
No. PIX is Brazil's domestic payment network for BRL transfers within Brazil. It does not process cross-border payments. Platforms use PIX for the domestic funding leg and their own networks for international settlement.
6. What is the IOF tax?
IOF is Brazil's financial operations tax on foreign exchange transactions. The applicable rate depends on the purpose and structure of the transfer. Confirm the rate shown in the provider's quote or with a qualified Brazilian tax adviser before sending.
7. Is XTransfer available for Brazilian businesses?
Yes. XTransfer opened its São Paulo office in May 2026 and has partnered with Ouribank to enable local payments and FX services.
8. What is changing in Brazil–China payments in 2026?
Brazil's new foreign-exchange rules, effective October 1, 2026, will broaden access to foreign-currency accounts for eligible businesses, including some exporters, companies with external debt, and Brazilian companies with foreign capital. The practical effect on CNY settlement will depend on the eligible company, bank, currency, documentation, and implementing rules.
Disclaimer
This article is compiled from publicly available sources and interview content for informational purposes only and does not represent the official views of XTransfer. XTransfer accepts no liability for any damages arising from reliance on this content.
