How to Get a Limited Company Verified Using Wise Business
Learn how to get a UK limited company verified with Wise Business in this step-by-step guide.
How to Take Payments Online (Complete Guide for UK Businesses)
Taking payments online as a UK business might be easy, but the decision on which methods to use and why can significantly affect your bottom line.
To help you make an informed decision, we've put this guide together comparing popular online payment methods in the UK - namely payment gateways, payment links, invoices, Direct Debit, bank transfers and Wise Business payment options.
We've explained everything from settlement times and fees to customer payment preferences, reconciliation, refunds, chargebacks and operational fit. Moreover, we've touched on why Wise Business is an option worth considering and which payment methods you can use to receive money on the platform.
Summary of payment methods
| Payment method | Notes |
|---|---|
| Payment gateway | Customer pays through an online checkout, and the payment gateway acts as an intermediary in the electronic financial transaction. This can suit ecommerce stores, but you’ll need to review setup, fees, security requirements and provider-specific responsibilities. |
| Payment links | Send a URL for a customer to pay. Payment links can suit freelancers, quotes and one-off invoices, but the customer must actively complete payment. |
| Invoices | Send an invoice with a payment method enabled. Invoices can suit B2B services and consultants, but you’ll need to manage payment terms, payment reminders and reconciliation. |
| Direct Debit | Collect from a bank account with a mandate. Direct Debit can suit subscriptions and recurring bills, but setup, advance notice and failed payments need to be managed. |
| Bank transfer | Customer pays to your account. Bank transfers can suit B2B invoices and large payments, but manual reconciliation can be time-consuming. |
| Wise Business | Wise Business can help eligible businesses receive money through international payments, invoices, QR codes, and account details. Customers can pay using the method you share with them, and the money lands in your Wise Business account, where you can hold, convert, send or withdraw it depending on availability and your business needs. |
Disclaimer: The UK Wise Business pricing structure is changed on 26/11/2025. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.
How to take payments online in 5 steps
If you want the shortest possible version, taking payments online usually means choosing a payment method, setting up a provider, sharing or connecting the payment option, testing the customer experience and reconciling payments once money lands.
| Step | Notes |
|---|---|
| Step 1 - Choose how customers will pay | Decide whether customers should pay through checkout, payment link, invoice, Direct Debit, bank transfer, marketplace payout or another setup. Start with customer behaviour, not just provider fees. |
| Step 2 - Choose a provider or platform | Pick a payment gateway, PSP, ecommerce platform tool, invoicing tool, accounting platform, bank account, marketplace payout setup or business account that supports the method you need. |
| Step 3 - Set up payment details and rules | Add prices, currencies, payment terms, refund rules, payment references, customer notifications and any fraud or security settings. This makes the payment flow clearer for both you and your customer. |
| Step 4 - Test before using it with customers | Make a test payment, check confirmation emails, review receipts, test mobile checkout and confirm that payment status updates correctly. Small setup errors can quickly cause lost sales or admin work. |
| Step 5 - Track, reconcile and improve | Match payments to orders or invoices, track fees, review failed payments and adjust your setup if customers struggle to pay. The best method is the one that works commercially and operationally. |
Popular online payment methods in the UK
Payment gateways
How payment gateways work
A payment gateway is technology that acts as an intermediary in electronic financial transactions, enabling businesses to accept, process and manage payment methods such as credit cards and debit cards.1
It typically connects the customer, the business and their respective financial institutions in one platform, and may charge a fee each time a transaction is processed.1
Payment gateways are commonly used by ecommerce stores that want customers to pay directly on the website.
A payment gateway can act as an intermediary between the customer, the business and their financial institutions during an online transaction, transmitting payment information and facilitating transaction authorisation.1
What you’ll usually need
- A website, checkout page, booking page or payment form
- A payment gateway, PSP or ecommerce platform payment tool
- Business and bank details for account setup
- Refund, chargeback and fraud settings
- A way to reconcile payouts with orders and accounting records
How to take payments using a payment gateway
| Step | Notes |
|---|---|
| Step 1 - Choose a platform based on your sales model | Pick a gateway, PSP, or ecommerce platform payment tool that fits how you sell. This helps avoid paying for features you don’t need, or missing features your checkout requires. |
| Step 2 - Check supported payment methods | Confirm whether the provider supports credit cards, debit cards and any other payment methods your customers expect. This can affect checkout completion and customer convenience. |
| Step 3 - Compare fees and payout rules | Look at monthly fees, domestic card fees, international card fees, currency conversion and settlement timing. These costs can have a direct impact on margins. |
| Step 4 - Connect the gateway to your sales channel | Add the gateway to your website, ecommerce platform, checkout page or payment form. This is the step that lets customers pay you online. |
| Step 5 - Set up refunds, chargebacks and fraud tools | Configure payment notifications, refund processes, chargeback handling and fraud settings. This helps you manage risk once payments start coming in. |
| Step 6 - Test the customer journey | Run test payments before going live to check the checkout flow, confirmation emails and error messages. Testing can help prevent failed payments or customer confusion. |
| Step 7 - Reconcile payouts | Match payouts from your provider to orders and accounting records. This helps you track revenue, fees, refunds and disputes accurately. |
What payment gateways are best for
Payment gateways are usually best for ecommerce stores and businesses that need customers to pay through an online checkout because they support a more automated buying journey.
They can be particularly useful when customers need to pay quickly on a website, when you sell at volume, or when you want checkout features such as card payments, fraud tools, refunds, settlement reporting and ecommerce platform integrations in one setup.
When choosing a provider to handle your ecommerce payment processing, compare:
- monthly fee
- domestic card fee
- international card fee
- currency conversion
- fraud tools
- chargeback handling
- settlement timing
- ecommerce platform integration
Payment links
How payment links work
Payment links can be simpler than building a checkout. Instead of sending a customer to a full ecommerce cart, you send a URL for them to complete payment.
The customer clicks the link, reviews the payment details and completes the payment through a hosted payment page.
What you’ll usually need
- A provider that supports payment links
- Customer details, amount, currency and payment description
- A way to send the link, such as email, message, quote or invoice
- A process for tracking paid, unpaid, failed or expired links
- A way to match the payment to the job, order or invoice
How to take payments using payment links
| Step | Notes |
|---|---|
| Step 1 - Choose a payment link provider | Pick a provider that lets you create and send links in the currencies and payment methods you need. This is important if you sell remotely or invoice customers across different locations. |
| Step 2 - Create the payment request | Add the product, quote, booking, or service the customer is paying for. Clear payment details reduce the chance of confusion or payment disputes. |
| Step 3 - Add amount, currency and description | Set the payment amount, currency, customer details and a clear payment description. This helps the customer understand what they’re paying for. |
| Step 4 - Share the link with the customer | Send the link by email, message, invoice, quote, or another customer communication channel. The easier it is to access the link, the easier it is for the customer to pay. |
| Step 5 - Ask the customer to complete payment | The customer pays through the hosted payment page. This avoids the need to build a full checkout into your own website. |
| Step 6 - Track payment status | Check whether the payment has been paid, failed, expired, or needs follow-up. This helps you stay on top of outstanding payments. |
| Step 7 - Reconcile the payment | Match the payment against the original order, quote, or invoice. This keeps your records accurate and avoids double chasing. |
What payment links are best for
Payment links may suit:
- freelancers
- consultants
- B2B sellers
- event organisers
- remote service providers
- international businesses that invoice customers
Invoices
How invoice payments work
Invoices can help businesses request payment while keeping a clear record of what was sold, when payment is due, and how the customer should pay.
You can send an invoice with a payment method enabled, such as a payment link, card payment option, bank transfer details, or another provider-supported method.
What you’ll usually need
- Customer and business details
- Invoice number, issue date and due date
- Product or service description
- Payment terms and payment instructions
- A way to track paid, overdue and disputed invoices
How to take payments using invoices
| Step | Notes |
|---|---|
| Step 1 - Create the invoice | Include your business details, customer details, invoice number and payment terms. This gives both sides a clear payment record. |
| Step 2 - Add the payment details | Add the product or service description, amount due, currency and due date. Clear details can reduce payment delays and customer queries. |
| Step 3 - Include an online payment method | Add a payment link, card payment option, bank transfer details, or another provider-supported method. This gives the customer a clear way to pay. |
| Step 4 - Send the invoice | Share the invoice with the customer through your invoicing tool, email, accounting software or payment provider. Sending it promptly can help keep payment timelines on track. |
| Step 5 - Monitor invoice status | Track whether the invoice is viewed, paid, overdue, or disputed. This helps you know when to follow up. |
| Step 6 - Send reminders if needed | Follow up when payment terms pass. Timely reminders can help reduce late payments. |
| Step 7 - Reconcile the payment | Match the payment to the invoice once money lands in your account. This keeps your accounts accurate and helps with reporting. |
What invoice payments are best for
Invoices may suit B2B services, consultants, freelancers, remote service providers and international businesses that invoice customers.
They can be especially useful when payment needs to be linked to a formal quote, project, purchase order, retainer or service agreement.
Direct Debit and recurring payments
How recurring payments work
Subscription businesses may need recurring billing. Options include:
- card-on-file billing through a PSP
- Direct Debit through a suitable provider
- recurring invoices
- subscription tools built into ecommerce platforms
Direct Debit lets you collect from a bank account with a mandate.
Other recurring payment options may let you bill customers automatically by card, recurring invoice, or subscription tool.
What you’ll usually need
- A recurring payment provider or subscription billing tool
- Customer authorisation, such as a mandate or card-on-file approval
- Billing frequency, amount and payment terms
- A failed-payment process
- A cancellation and refund process
How to take recurring payments online
| Step | Notes |
|---|---|
| Step 1 - Choose the recurring payment type | Decide whether recurring card payments, Direct Debit, recurring invoices, or a subscription platform best fits your model. The right choice depends on billing frequency, customer expectations and admin needs. |
| Step 2 - Check provider support | Confirm whether the provider supports your billing frequency, currencies, refund process and failed-payment handling. This helps avoid issues once customers are subscribed. |
| Step 3 - Set up customer authorisation | Collect card-on-file approval, a Direct Debit mandate, or agreed invoice terms. Authorisation is essential before collecting repeat payments. |
| Step 4 - Create the recurring plan | Add the amount, billing date and cancellation terms. Clear billing terms help customers understand what they’ll be charged and when. |
| Step 5 - Communicate payment terms | Send customers clear payment terms before the first payment. This can reduce confusion and complaints. |
| Step 6 - Monitor failed payments and cancellations | Keep track of failed payments, expired cards, cancellations and customer updates. This helps protect cash flow. |
| Step 7 - Reconcile recurring payments | Match recurring payments in your accounting system. This keeps revenue tracking accurate over time. |
What recurring payments are best for
Recurring payments can work well for subscriptions and recurring bills, but setup, advance notice, failed payments and provider-specific rules should be reviewed before choosing a setup.
They can also be useful for memberships, retainers, maintenance plans, software subscriptions, repeat services and ongoing client work.
Bank transfers
How bank transfers work
Bank transfer can be useful for B2B invoices and large payments, especially where customers prefer to pay from their business bank account.
The customer pays directly to your account using the payment details and reference you provide.
What you’ll usually need
- Account details for the customer to pay into
- Clear payment reference instructions
- Invoice or payment request details
- A way to monitor incoming payments
- A reconciliation process for matching payments to invoices
How to take payments by bank transfer
| Step | Notes |
|---|---|
| Step 1 - Choose the receiving account | Decide which account the customer should pay into. This is especially important if you receive money in more than one currency. |
| Step 2 - Share payment details | Add your account details, payment reference and due date to your invoice or payment instructions. Clear instructions make it easier to match incoming payments. |
| Step 3 - Request the correct reference | Ask the customer to use the correct reference so you can match the payment. Missing references can slow down reconciliation. |
| Step 4 - Monitor incoming payments | Check your account for the incoming transfer. This helps you spot late, missing or incorrect payments quickly. |
| Step 5 - Reconcile the payment | Match the payment manually or through accounting software. This keeps your invoice records up to date. |
| Step 6 - Follow up on mismatches | Follow up if the amount, reference or currency does not match the invoice. This helps resolve payment issues before they affect your accounts. |
What bank transfers are best for
Bank transfers can suit B2B invoices and large payments, but manual reconciliation can become time-consuming as payment volume grows.
They can also work well when card fees would be expensive relative to the transaction value, or when the buyer’s procurement process is built around invoice and bank transfer payments.
How to compare online payment providers
Once you know which payment methods could work, compare providers using the same criteria. This helps you avoid choosing based only on headline fees.
| Factor | What to check |
|---|---|
| Setup | How long setup takes, what documents are needed and whether technical work is required. |
| Customer experience | Whether customers can pay quickly on mobile, desktop, invoice, link or checkout. |
| Fees | Transaction fees, monthly fees, international card fees, currency conversion and payout fees. |
| Settlement | How quickly funds are available and whether payout timing changes by payment method. |
| Currencies | Whether the provider supports the currencies you sell in and the currencies you want to hold. |
| Refunds and disputes | How refunds, chargebacks, failed payments and customer complaints are handled. |
| Reconciliation | Whether payments can be matched easily to invoices, orders or accounting software. |
| Integrations | Whether the provider works with your ecommerce platform, invoicing tool or accounting software. |
Streamline your payments with Wise Business
For UK SMEs comparing online payment options, international payments can add extra considerations around currencies, provider availability, and transaction costs.
This is where Wise Business can help.
With Wise Business, you can:
- 🌍 Send money to 70+ countries and pay overseas invoices at the mid-market exchange rate with low, transparent fees and no hidden exchange rate markups (product availability varies by region)
- 📥 Receive payments in 24 currencies and counting
- 💵 Get local account details for 8+ currencies, including USD and EUR, to let your customers pay in a currency they know and trust - convenience for them and peace of mind for you
- 💰 Hold money in 40+ currencies
- 🔁 Convert currencies anytime at the mid-market exchange rate with low, transparent fees
- ⚡ Use the batch payments tool to create and send up to 1,000 payments in a single transfer
- 👥 Run payroll and make international payments for up to 1,000 employees all over the world - including paying suppliers using local payment methods like ACH, SEPA, and Faster Payments
- 💳 Get business debit cards with 0.5% cashback for you and your team to keep track of team expenses and spend all over the world, with real-time visibility and categorisation. See full cashback terms and conditions
- 🏢 Manage cash in 55+ currencies across international offices from a single business account and move money between business accounts in seconds (exact speeds can vary depending on individual circumstances and may not be the same for all transactions)
- 🧾 Connect and sync every business transaction to your favourite accounting software, including Xero, Quickbooks, and more
- 🔐 Create your own payment approvals process to manage your team better with customised access for different team members, roles and permissions
- 📑 Create custom professional invoices and schedule invoice payments for future dates
- 📈 Earn variable returns on GBP, USD and EUR with Wise Interest (Capital at risk, growth not guaranteed. Your money is at risk if governments default or interest rates go negative. Rates vary by country and currency. Rates are variable. Visit Wise Interest to find out more)
- 🔗 Create payment links and QR codes to get paid easily (Card payment acceptance for new Wise Business customers is currently unavailable. Payment methods subject to eligibility and availability.)
- ⚙️ Automate payouts with the Wise API (comes with 24/7 customer support, a sandbox account to test integrations, API tokens, and clear documents on how to implement and make the most of our API)
Make the wise choice when selecting a business account for your domestic and global needs.
Be Smart, Get Wise.
Disclaimer: The UK Wise Business pricing structure is changed on 26/11/2025. Receiving money, direct debits and getting paid features are not available with the Essential Plan which you can open for free. Pay a one-time set up fee of £50 to unlock Advanced features including account details to receive payments in 22+ currencies or 8+ currencies for non-swift payments. You’ll also get access to our invoice generating tool, payment links, QR codes and the ability to set up direct debits all within one account. Please check our website for the latest pricing information.
FAQs
What is the easiest way to take payments online?
The easiest way to take payments online depends on how you sell.
For a service business or freelancer, a payment link or invoice can be the quickest route because you can send the customer a way to pay without building a full checkout.
For an ecommerce business, a payment gateway or ecommerce platform payment tool may be more practical because customers can pay directly on your website.
Can I take payments online without a website?
Yes. You may be able to take payments online without a website by using payment links, invoices, bank transfers, marketplace payouts, QR codes or another hosted payment page.
This can suit freelancers, consultants, event organisers, service providers and B2B businesses that do not need a full ecommerce checkout.
What is the cheapest way to take payments online?
The cheapest way to take payments online depends on factors such as payment type, transaction value, customer location, currency conversion, and monthly provider fees.
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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