Key Takeaways
- Start with your payment flow. Collecting from customers, paying overseas suppliers and accepting local payment methods require different capabilities.
- Compare the total cost. Include the exchange rate, transaction fees, potential intermediary charges and withdrawal costs.
- Check country eligibility first. A provider's global network does not mean every service is available to every business registered in Latin America.
- Match the product to your business. Multi-currency accounts, merchant payment acceptance and B2B supplier settlement are not interchangeable.
- For China-related trade, compare the supported payment currency, beneficiary requirements and final amount the supplier receives.
What does your business need from a cross-border payment provider?
Before comparing providers, identify the main job you need the service to do.
| Your business need | What to look for |
|---|---|
| Pay suppliers overseas | Supported destination countries, currencies, FX rates and payout fees |
| Collect from international buyers | Local receiving options, supported currencies and settlement terms |
| Accept local payments from customers | Domestic payment methods, local acquiring and merchant eligibility |
| Hold and manage multiple currencies | Multi-currency balances, conversion options and account availability |
| Receive marketplace or platform payouts | Supported marketplaces, receiving routes and withdrawal charges |
| Pay a Chinese supplier regularly | CNY settlement availability, beneficiary requirements and transaction records |
For example, a Brazilian importer paying a Chinese factory every month has different needs from a Mexican online merchant accepting card payments from customers. The first may prioritise supplier settlement and FX costs; the second may prioritise payment acceptance and checkout conversion.
Compare six cross-border payment providers
The providers below serve different use cases. This is a functional comparison, not a universal ranking: the most suitable option depends on your registered business country, payment corridor and transaction type.
| Provider | Best suited to | What to verify |
|---|---|---|
| XTransfer | B2B trade collections and international supplier payments | Local payment availability, supported currencies, FX rate and payout route |
| Airwallex | Multi-currency business accounts and payment operations | Whether your business entity can open the relevant account and use the required services |
| Wise Business | Businesses needing transparent, transaction-based international transfer pricing | Country availability, receiving details and applicable transfer fees |
| Payoneer | Businesses receiving payments from marketplaces and international business clients | Whether your receiving route is eligible and what conversion or withdrawal costs apply |
| dLocal | Merchants collecting and disbursing payments in supported emerging markets | Local payment methods, market coverage and commercial pricing |
| EBANX | Merchants and businesses needing local payment acceptance in supported markets | Eligible countries, transaction types, invoice requirements and negotiated pricing |
XTransfer: B2B trade collections and supplier payments
XTransfer focuses on cross-border payments for businesses involved in international trade, particularly companies buying and selling physical goods.
Its three relevant offerings address different payment needs:
- Local Accounts: Support local-currency collection or funding in supported markets, subject to the account and payment route.
- Global Accounts: Support multi-currency business payment and collection workflows across international markets.
- X2X: Enables near-instant transfers with zero transaction fees between eligible XTransfer accounts.
XTransfer charges zero for account opening and maintenance. It supports local-currency collection in nearly 60 countries and regions, with fees from 0.2% for COP, PEN, CLP and ZAR. CNY payments to designated Chinese supplier accounts have a published maximum transaction fee of 0.4% under the specified route. These figures are route-specific; check the live quote and applicable terms before paying.
Latin America presence and local payment methods
XTransfer has announced local financial-institution partnerships across Brazil, Chile, Colombia, Mexico and Peru, as well as regional expansion initiatives.
XTransfer also announced a strategic memorandum with BBVA covering Latin America and Europe. These developments reflect its regional infrastructure strategy; the availability of a specific service should still be confirmed for the relevant country and business entity.
Explore XTransfer's global payment services, published pricing and Brazil payment services.
Airwallex: Multi-currency business operations
Airwallex offers business accounts, multi-currency funds management, international transfers and merchant payment acceptance.
Its US pricing page describes accounts for holding 20+ currencies and local transfers to 120+ countries. It also publishes FX pricing and SWIFT transfer fees for the services shown on that page.
Airwallex may suit businesses that need a combination of international funds management and merchant payment tools. However, published US pricing does not establish eligibility for a business registered in Brazil, Mexico, Colombia, Chile or another Latin American country. Confirm the supported entity, account features and corridor directly.
Sources: Airwallex pricing and Airwallex global payments.
Wise Business: Itemised international transfer pricing
Wise Business offers international transfers and multi-currency account features in supported markets. Its pricing model presents fees for individual transactions, with availability depending on the customer's country and service.
Wise can be worth comparing when you want to see the transfer fee and exchange rate before sending. Check whether your registered business can access the required account details, currencies and receiving features.
Do not assume that Wise's pricing or product availability in the UK or US applies to a Latin American business.
Sources: Wise Business pricing and Wise availability checker.
Payoneer: Marketplace and business-client payouts
Payoneer focuses on receiving payments from marketplaces and business clients, with payment and withdrawal tools linked to its accounts.
It may be a good fit if your business already receives platform payouts through a supported Payoneer route. Before choosing it for supplier payments, check whether the service supports your specific payment purpose, currency and beneficiary.
A free receiving route does not necessarily mean that currency conversion, withdrawal or other services are free.
Source: Payoneer pricing.
dLocal: Local payment acceptance and payouts
dLocal provides payment infrastructure for merchants operating in emerging markets. Its services include local payment acceptance and payouts, with available methods depending on the market.
It is more relevant to businesses that need to collect from customers or distribute funds through supported payment networks than to businesses primarily looking for a general-purpose multi-currency account.
Pricing and eligibility are generally specific to the market, payment method and commercial arrangement.
Sources: dLocal and its investor information.
EBANX: Local payment methods for international merchants
EBANX helps international businesses accept payments through local payment methods in supported markets. Its solutions may be relevant to merchants that need to adapt payment acceptance to local customer preferences.
Businesses should verify country coverage, eligible transaction types, settlement arrangements and commercial terms. A merchant payment acceptance service is not automatically a substitute for a business account used to pay overseas suppliers.
Sources: EBANX and EBANX B2B payments.
How to compare cross-border payment costs
Headline fees can be misleading because providers charge for different parts of the payment journey. Compare the full cost of the same transaction.
Check these four cost components
1. Exchange-rate margin
The exchange rate can have a greater financial impact than a fixed transfer fee, particularly on large payments. Compare the quoted rate with a relevant benchmark and calculate the total amount in your funding currency.
2. Transfer and processing fees
Check whether the fee is fixed, percentage-based or specific to the currency and payment corridor. Also establish whether it applies to sending, receiving or both.
3. Intermediary, receiving and withdrawal charges
An international bank transfer may involve additional bank charges. A provider's advertised receiving fee may also exclude later conversion or withdrawal costs.
4. Taxes and local requirements
Tax treatment depends on the country, transaction structure and applicable law. Confirm local tax obligations with the relevant financial institution or professional adviser.
Use the same quote conditions
For a fair comparison, ask each provider to price the same:
- Invoice amount and currency
- Funding currency
- Beneficiary account and destination country
- Payment date and expected arrival time
- Fee allocation and withdrawal arrangement
Then compare two numbers: the total amount your business pays and the net amount your counterparty receives.
Which solution fits your business?
If you pay Chinese suppliers regularly: Prioritise CNY settlement availability, the full FX cost and the beneficiary requirements. XTransfer may be worth evaluating if you need B2B trade payment capabilities and eligible local funding options.
If you manage several currencies: Compare multi-currency accounts, supported balances, conversion pricing and the availability of the service for your registered entity. XTransfer Global Accounts and Airwallex are examples to investigate, subject to local eligibility.
If both parties use the same provider: Check whether an internal transfer option is available. XTransfer X2X offers near-instant transfers with zero transaction fees between eligible XTransfer accounts; external withdrawals and currency conversion may have separate terms.
If you collect payments from consumers: Focus on payment acceptance, local payment methods, checkout integration and settlement. Providers such as dLocal and EBANX are relevant to this use case.
If you receive marketplace payouts: Check whether the marketplace supports your account and how much it costs to withdraw or convert the funds. Payoneer may be relevant where the receiving route is supported.
FAQs
What should I look for in a cross-border payment provider in Latin America?
Compare four things: supported local currencies, total transfer costs, payment methods, and supplier payout coverage. If you import goods, check whether the provider supports payments to your suppliers' countries and currencies.
2. How much does a cross-border payment cost in Latin America?
Costs vary by provider, currency, payment route, and account type. Check the transfer fee, FX markup, intermediary bank charges, and withdrawal fees; not just the advertised transaction fee. If your recipient is an XTransfer user, you can choose X2X (XTransfer-to-XTransfer) and enjoy 0 transfer fees. For bank payments, fees may vary depending on the correspondent bank.
3. Can I collect payments in local currencies in Latin America?
Yes, through providers that support local collection in your target markets. Availability varies by country and account eligibility. For example, XTransfer supports local payment methods in Brazil, Mexico, Argentina, Chile, Peru and Colombia.
4. How can I pay suppliers in China from Latin America with XTransfer?
Create an XTransfer account in just a few minutes and complete verification. Then, tap Send Money on the XTransfer app homepage and choose how you'd like to pay your recipient: bank account, XTransfer account, or digital wallet. Before confirming, you'll see the exchange rate, fees, estimated delivery time, and exact BRL amount the recipient will receive.
5. Is a multi-currency account useful for Latin American businesses?
Yes, if you regularly receive or pay in different currencies. It can help you manage foreign-currency balances and reduce unnecessary conversions. Check which currencies you can hold, receive, and send, as these capabilities vary by provider and account type.
6. Is XTransfer suitable for Latin American importers and exporters?
XTransfer focuses on B2B cross-border trade payments. Its Local Accounts support local-currency collections in Brazil, Mexico, Argentina, Chile, Peru and Colombia, Global Accounts support international business payments, and X2X enables transfers between eligible XTransfer accounts.
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.
