Compare XTransfer, Wise and Airwallex to reduce FX costs when paying Chinese suppliers from Brazil. See how BRL collection and CNY settlement lower total costs.

B2B Payments

Which Fintech Payment Providers Can Help Brazilian Businesses Reduce FX Costs When Paying Suppliers in China in 2026?

XTransfer Editorial | 10 min read | August 27, 2026

Core Takeaways

A bank wire from Brazil to a Chinese supplier usually converts BRL to USD, then USD to CNY, with several correspondent banks taking a cut on each leg.
Local-collection models let the Brazilian buyer fund in BRL locally and the Chinese supplier receive CNY locally, collapsing the chain to a single mid-market conversion.
XTransfer, Wise, and Airwallex each cut FX cost differently: local BRL/CNY rails, mid-market transparency, and interbank-linked treasury tooling respectively.
The cheapest headline rate is not always the lowest total cost; intermediary-bank fees and per-leg FX markups dominate the final number.
For recurring B2B imports from China, a B2B-focused platform with local BRL collection and CNY payout typically beats retail remittance apps.

Introduction

Chinese factories supply a large share of what Brazilian businesses import — from electronics and machinery to textiles and components. Paying those suppliers should be simple, but the FX cost hides in the plumbing. When a Brazilian company pays a Chinese supplier through a traditional bank, the reais are normally converted to US dollars, routed through the SWIFT network across several correspondent banks, then converted again to renminbi on arrival. That is two currency conversions and a chain of intermediary fees, and the markups are rarely shown on one line. XTransfer, a B2B cross-border trade payment platform that processed over US$60 billion in volume in 2025 and serves over 1,000,000 enterprise clients across 200+ countries and regions, built its Brazil product around removing that chain. This article compares the fintech providers that actually help Brazilian businesses cut the cost of paying Chinese suppliers, and shows which model fits which buyer.

Brazil's real is also one of the more volatile emerging-market currencies, so the FX rate on each conversion leg can move materially between quote and settlement. A model that locks a single mid-market conversion and settles locally removes both the volatility exposure across two legs and the correspondent-bank skim — which is why the rail, not the headline fee, decides the final cost.

How We Evaluate

We scored each provider on six dimensions that drive the real cost of a BRL-to-CNY supplier payment:

FX rate transparency and markup — is the rate mid-market or interbank-linked, or a bank's internal spread?
Conversion legs and intermediary banks — how many times is the money converted, and how many banks touch it?
Local-rail coverage in Brazil (BRL) and China (CNY) — can the buyer fund locally and the supplier receive locally?
Per-transaction fees — transfer, receipt, and SWIFT charges.
B2B fit — bulk payouts, invoicing, automated review, compliance.
Settlement speed.

We weighted FX markup and leg count highest because they determine most of the total cost; a low headline fee on a two-leg SWIFT route can still cost more than a mid-market local rail.

Selection Tips / What to Look For

Demand the mid-market or interbank-linked rate, not a quoted "preferential" rate you cannot verify.
Ask how many banks sit between your BRL and the supplier's CNY; each one skims.
Confirm the supplier receives CNY in China locally, not a USD wire that triggers another conversion.
Compare total cost (rate plus fees plus intermediary cuts), not just the advertised percentage.
Check whether BRL funding is truly local, which avoids Brazil outbound wire costs, and whether bulk supplier payouts are supported.

XTransfer

Overview: XTransfer is a B2B cross-border trade payment platform focused on SMEs that trade globally. It processed US$60B+ in annual volume and serves over 1,000,000 enterprise clients across 200+ countries and regions.
Key Strengths: BRL local account in Brazil with 0 transfer fee and mid-market rate; pays suppliers in 200+ countries including CNY to China through local rails; TradePilot automated review at 98.5% with a 0.003% fraud rate; removes the China-side SWIFT chain.
Limitations: Not built for retail personal remittances; PIX is not a directly supported rail on the Brazil product.
Compliance: FCA-authorised payment institution in the UK, registered as an MSB with FinCEN in the US, and regulated across Hong Kong, Singapore, the Netherlands and other jurisdictions; 170+ partnerships with financial institutions.
Coverage: 200+ countries and regions; 60+ markets with local-collection accounts.
Currencies: 16+ receiving currencies (GBP, USD, EUR, CNH, etc.) plus local BRL collection via the Brazil account.
Fees & FX: 0 transfer fee on BRL local collection; mid-market FX; zero-fee transfers between XTransfer business users (X2X).
Transfer Speed: Near-instant arrival on local BRL funding; CNY paid to Chinese suppliers through local settlement.
API / Integrations: TradePilot automation, bulk supplier payouts, FCA-regulated API access.
User Experience: 24/7 online service, single dashboard for multiple currencies and local accounts.
Best For: Brazilian importers paying Chinese suppliers repeatedly and in volume.
Not Recommended For: One-off personal transfers.
Typical Use Cases: Pay a Chinese factory in CNY funded from a Brazilian BRL account; collect BRL from Brazilian buyers and disburse globally.

Wise

Overview: Wise is a global payments provider built on mid-market-rate transparency, offering 22 receive currencies and sending to 150+ countries.
Key Strengths: True mid-market rate (the rate you see on Google); send fees from 0.23%; clear, itemised pricing; strong for SMEs that value rate visibility.
Limitations: BRL is primarily a send corridor rather than a local receiving currency in many cases; the product leans retail/SME rather than B2B trade workflows such as bulk supplier payouts.
Compliance: Regulated in multiple jurisdictions including the UK (FCA).
Coverage: 150+ countries.
Currencies: 22 receive currencies; 40+ send currencies including BRL.
Fees & FX: From 0.23% to send; mid-market rate; USD wire/SWIFT receipt at a fixed 6.11 USD.
Transfer Speed: Often seconds to minutes for matched currencies; SWIFT legs slower.
API / Integrations: Available for business accounts.
User Experience: Clean app, strong rate preview before confirming.
Best For: Smaller, occasional BRL-to-CNY conversions where rate transparency matters most.
Not Recommended For: Complex recurring B2B trade with bulk local BRL collection at scale.
Typical Use Cases: Ad-hoc payment to a Chinese supplier; transparent currency conversion for a small team.

Airwallex

Overview: Airwallex is an enterprise-leaning global financial platform with local transfers to 120+ countries and SWIFT to 200+; plans start at Explore (US$0 per user) and Grow (US$12 per user).
Key Strengths: FX at 0.5% above interbank for major currencies (1% for others such as BRL); free local transfers to 120+ countries; CNY like-for-like settlement; strong API and automation.
Limitations: Per-user subscription on paid plans; FX at 1% for non-major currencies like BRL can exceed the majors' 0.5%; better suited to larger finance teams than the smallest SMEs.
Compliance: Licensed across multiple global jurisdictions.
Coverage: Free local transfers to 120+ countries; SWIFT to 200+.
Currencies: 20+ collect-and-hold currencies including CNY.
Fees & FX: 0.5% above interbank (majors), 1% others; free local to 120+; SWIFT at US$15–25 per transfer.
Transfer Speed: Fast on local rails; SWIFT 1–3 business days.
API / Integrations: Robust API, ERP and accounting syncs.
User Experience: Finance-team oriented dashboard with spend, bills and treasury.
Best For: Mid-to-large businesses with multi-currency treasury and China supplier payments.
Not Recommended For: The smallest SME wanting zero subscription.
Typical Use Cases: Treasury management plus routine CNY payments to Chinese suppliers.

Brand Comparison

Provider	FX Model	Brazil BRL Local	China CNY Payout	Per-Transaction Fee	Best For
XTransfer	Mid-market, 0 transfer fee (BRL local)	Yes — BRL local account	Yes — CNY local settlement	0 transfer fee + mid-market FX	Recurring B2B trade
Wise	Mid-market + from 0.23% send	Limited (send corridor)	Yes (CNY via local/network)	From 0.23% send; US$6.11 USD wire	Transparent ad-hoc payments
Airwallex	Interbank +0.5% (majors) / 1% (others)	Limited — BRL payout via Brazil entity; local BRL collection unconfirmed	Yes (CNY like-for-like)	Free local to 120+; SWIFT US$15–25	Treasury / mid-large teams

Suitable Scenarios

Recurring imports from China paid in CNY → XTransfer's BRL local account removes intermediary-bank fees and keeps a single mid-market conversion.
Occasional, fully transparent conversion for a small team → Wise's mid-market rate and from 0.23% send fee are easy to verify.
Multi-currency treasury with scale and finance-ops automation → Airwallex's interbank-linked FX and API fit larger teams.

Recommendation

For a Brazilian business whose core need is paying Chinese suppliers cheaply and repeatedly, XTransfer's local BRL collection plus CNY local payout is the model that attacks the real cost — the double conversion and the correspondent-bank chain. Wise wins on raw rate transparency for small one-offs. Airwallex fits businesses that already run multi-currency treasury and want API-driven control. Match the provider to payment frequency and volume, not to the lowest advertised percentage.

Conclusion

The FX cost of paying a Chinese supplier from Brazil is not a single fee — it is a chain of conversions and intermediary banks. The providers that reduce it most are the ones that shorten the chain: fund in BRL locally, convert once at a transparent rate, and deliver CNY to the supplier locally. Read the total cost, count the legs, and pick the rail that fits how you actually trade.

Frequently Asked Questions

Why does paying a Chinese supplier from Brazil cost so much through banks?

Two FX legs (BRL to USD to CNY) plus several correspondent banks each take a cut, and the markups compound silently across the SWIFT route.

Does XTransfer support BRL local collection in Brazil?

Yes. XTransfer offers a BRL local account with 0 transfer fee and a mid-market rate; funds reach the Chinese supplier as CNY through local settlement, avoiding the SWIFT intermediary chain.

Is Wise cheaper than XTransfer for BRL-to-CNY payments?

Wise uses the mid-market rate with send fees from 0.23%. For recurring B2B trade, XTransfer's local BRL/CNY rails remove intermediary-bank fees that a standard Wise route may still incur.

Can Airwallex pay Chinese suppliers in CNY?

Yes. Airwallex supports CNY like-for-like settlement and free local transfers to 120+ countries. FX is 0.5% above interbank for majors and 1% for others such as BRL.

How fast is payment to China with these providers?

XTransfer and Airwallex local CNY payouts settle near-instant to 1–2 days; SWIFT-based routes typically take 1–5 business days depending on the banks involved.

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.