OFX vs Wise: UK comparison for businesses
Discover how OFX and Wise compare for UK businesses, across features, currencies, pricing and more.
Best Online Payment Systems for UK Businesses
Looking to sell online or receive customer payments digitally? Choosing the right online payment system comes down to how your customers pay, where they’re based, whether you need ecommerce checkout, and the costs involved.
In this guide, we've compared popular online payment providers in the UK, including PayPal, Square, Shopify Payments, Worldpay, and Adyen, so you can review their fees, features, settlement notes, recurring payment options, and multi-currency support in one place.
We've also explained how Wise Business can help UK businesses manage international payments when selling to customers or working with suppliers across borders.
Summary of providers
| Provider | Summary of features and fees |
|---|---|
| PayPal | Features: PayPal may suit online sellers that want PayPal Checkout, payment buttons, payment links, invoicing, seller protection for eligible transactions and a familiar wallet option.1,2,3 Reach: PayPal currently says it is available in more than 200 countries/regions and supports 25 currencies.4 Fees: PayPal’s UK business fees page currently lists 1.20% + fixed fee for some card-funded payments from users without a PayPal account, 2.9% + fixed fee for all other commercial transactions, and additional international commercial transaction fees of 1.29% for EEA sender markets or 1.99% for all other sender markets.5 |
| Square | Features: Square may suit retailers, restaurants, service businesses, and sellers that accept online and in-person payments. Businesses can accept payments through Square Payment Links, QR codes, buy buttons, online checkout and Square APIs.6,7 Fees: Square Payment Links currently have no monthly fees. Online transaction fees are listed as 1.4% + 25p for UK cards and 2.5% + 25p for non-UK/non-EEA cards.6 |
| Shopify Payments | Features: Shopify Payments may suit businesses already using Shopify. Shopify says UK merchants can use Shopify Payments to accept supported payment methods at checkout, with payments managed through Shopify admin.8,9 Fees: Shopify’s UK pricing page lists the Basic plan at £25/month when paying monthly, online standard card rates from 2% + 25p GBP, online international rates at 3.1% + 25p GBP, and third-party transaction fees of 2% for the displayed plan.10 Shopify also says currency conversion fees may apply.11 |
| Worldpay | Features: Worldpay may suit SMEs and larger merchants that need ecommerce, in-store, mobile, and phone payment options. Worldpay also discusses automated billing features for recurring payments.13 Fees: Worldpay currently lists tailored pricing, variable pricing options, no joining fee, next-day settlement, and e-commerce pay-as-you-go pricing of 1.3% + 20p.12 |
| Adyen | Features: Adyen may suit high-volume global businesses and enterprise merchants. Adyen currently says businesses can accept, settle, and move funds on one platform, with support for 200+ local payment methods and 150+ currencies.14 Fees: Adyen’s UK pricing page says each transaction includes a £0.11 processing fee plus a payment method fee. Example payment method fees include Interchange++ + 0.60% for Visa and Mastercard, 3.95% for Diners and Discover, and £0.11 + defined by card used for Apple Pay and Google Pay.20 |
PayPal
Features
| Feature | Details |
|---|---|
| Online and in-person payments | PayPal is an online payment system that enables users to shop online and in person, make payments, send, and receive money around the world.15 |
| International reach | PayPal currently says it is available in more than 200 countries/regions and supports 25 currencies.4 |
| Checkout tools | PayPal may suit businesses that want PayPal Checkout, payment buttons, payment links and invoice-based payments.1 |
| Ecommerce integrations | PayPal lists integrations and partner options for ecommerce platforms and marketplaces, which may help businesses add PayPal to an existing online store.3 |
| Seller protection | PayPal Seller Protection may cover eligible transactions where PayPal’s requirements are met.2 |
| Potential fit | PayPal may be useful if your customers expect to see PayPal at checkout, or if you want an easy way to accept payments directly from consumers. |
Fees
| Fee type | Details |
|---|---|
| Card-funded payments from users without a PayPal account | PayPal’s UK business fees page currently lists 1.20% + fixed fee for card-funded payments from a user of PayPal’s terms for payments without a PayPal account.5 |
| QR code transactions | PayPal currently lists 1.5% + fixed fee for QR code transactions of £10.01 and above, and 2% + fixed fee for QR code transactions of £10.00 and below.5 |
| All other commercial transactions | PayPal currently lists 2.9% + fixed fee for all other commercial transactions.5 |
| International commercial transactions | PayPal says the applicable domestic commercial or QR code transaction fee applies, plus 1.29% for EEA sender markets or 1.99% for all other sender markets.5 |
| GBP fixed fees | For payments received in GBP, PayPal currently lists the fixed fee for commercial transactions as £0.30. For QR code transactions, the GBP fixed fee is £0.10 for transactions of £10.01 and above, and £0.05 for transactions of £10.00 and below.5 |
| Currency conversion | PayPal currently lists currency conversion for business account balances at 3% above the base exchange rate.5 |
Square
Features
| Feature | Details |
|---|---|
| Payment links and online checkout | Square lets businesses accept payments through Square Payment Links, QR codes, buy buttons, online checkout and Square APIs.6 |
| In-person and online payments | Square combines payment processing, point-of-sale software, and online selling tools in one platform.7 |
| No-code selling tools | Payment links and QR codes may be useful for businesses that want to take payments without building a full ecommerce checkout.6 |
| POS connection | Square may suit businesses that want online payments and in-person payments connected through one provider.7 |
| Potential fit | Square may be useful for businesses that value simple setup and built-in business tools over advanced customisation. |
Fees
| Fee type | Details |
|---|---|
| Monthly fees for Payment Links | Square Payment Links currently have no monthly fees.6 |
| UK card online transaction fee | Square currently lists 1.4% + 25p for UK cards per online transaction.6 |
| Non-UK/non-EEA card online transaction fee | Square currently lists 2.5% + 25p for non-UK/non-EEA cards.6 |
| What to check | Businesses should check refund rules, chargeback fees, in-person card fees and any ecommerce integration costs before choosing Square. |
| Best for | Small businesses that want straightforward payment links, POS tools and card payment acceptance. |
Shopify Payments
Features
| Feature | Details |
|---|---|
| Built-in Shopify processor | Shopify Payments is Shopify’s built-in payment processor for merchants using Shopify.8 |
| Checkout integration | UK merchants can use Shopify Payments to accept supported payment methods at checkout on their Shopify store.8,9 |
| Store management | Because Shopify Payments is integrated with Shopify, businesses can manage storefront, inventory, orders and payments from a single dashboard.8 |
| Payout management | Shopify provides payout information for UK merchants, including payout status and payout timing through Shopify admin.16 |
| Potential fit | Shopify Payments may be one of the simpler options for businesses already running or planning to build a Shopify store. |
Fees
| Fee type | Details |
|---|---|
| Shopify plan costs | Shopify’s UK pricing PDF lists the Basic plan at £25/month when paying monthly, or £19/month when paying yearly.10 |
| Online standard card rates | Shopify currently lists online standard card rates from 2% + 25p GBP.10 |
| Online Amex card rates | Shopify currently lists online Amex card rates at 3.1% + 25p GBP.10 |
| Online international card rates | Shopify currently lists online international rates at 3.1% + 25p GBP.10 |
| Alternative payment rates | Shopify currently lists Klarna rates at 4.99% + 30p GBP, Bancontact at 2.2% + 20p GBP, iDEAL at 2.2% + 20p GBP, and TWINT at 3.1% + 25p GBP.10 |
| Third-party transaction fees | Shopify says third-party transaction fees may apply when you use a third-party payment provider instead of Shopify Payments, and the rate depends on your plan. The attached Shopify pricing PDF lists a 2% third-party transaction fee for the displayed plan.10 |
| Currency conversion | Shopify says a conversion fee may apply to currency conversion.11 |
Worldpay
Features
| Feature | Details |
|---|---|
| Payment channels | Worldpay currently says businesses can take payments in store, online, or on the go.12 |
| Ecommerce and acquiring | Worldpay offers ecommerce, in-person payments, gateway features and acquiring services.12 |
| Recurring payments | Worldpay discusses automated billing features for recurring payments.13 |
| Tailored setup | Worldpay may suit businesses that want a tailored payment setup rather than a one-size-fits-all solution.12 |
| Potential fit | Worldpay may be worth reviewing if you process higher volumes or want acquiring and gateway services from a single provider. |
Fees
| Fee type | Details |
|---|---|
| Pricing model | Worldpay currently lists tailored pricing and variable pricing options.12 |
| Joining fee | Worldpay currently lists no joining fee.12 |
| Settlement | Worldpay currently lists next-day settlement.12 |
| Ecommerce pay-as-you-go pricing | Worldpay currently lists ecommerce pay-as-you-go pricing of 1.3% + 20p.12 |
| Best for | SMEs and larger businesses that need online, in-store, mobile or phone payment options. |
Adyen
Features
| Feature | Details |
|---|---|
| Payments platform | Adyen is a fintech platform for payments, data and financial products.14 |
| Global payment methods | Adyen currently supports 200+ local payment methods and 150+ currencies.14 |
| Unified platform | Adyen says businesses can accept, settle and move funds on one platform.14 |
| Enterprise fit | Adyen may suit high-volume global businesses, enterprise merchants and platforms operating across multiple markets. |
| Potential fit | Adyen may be useful for businesses that need international payment method coverage and centralised payments infrastructure. |
Fees
Fees
| Fee type | Details |
|---|---|
| Pricing model | Adyen’s UK pricing page says each transaction includes a £0.11 processing fee plus a fee determined by the payment method.20 |
| Setup and monthly fees | Adyen says there is no setup fee and that businesses pay per transaction with no setup or monthly fees.20 |
| Visa and Mastercard | Adyen lists Visa and Mastercard payment method fees as Interchange++ + 0.60%.20 |
| Apple Pay and Google Pay | Adyen lists Apple Pay and Google Pay as £0.11 + defined by card used.20 |
| Diners and Discover | Adyen lists Diners and Discover payment method fees as 3.95%.20 |
| BACS Direct Debit | Adyen lists BACS Direct Debit in the United Kingdom as £0.11 + £0.55.20 |
| PayPal through Adyen | Adyen lists PayPal as £0.11 + direct contract with PayPal and management service fee.20 |
| What to check | Businesses should review payment method fees, settlement costs, FX costs, minimum charges and contract terms directly with Adyen. |
Apple Pay, Google Pay, and digital wallets
Digital wallets such as Apple Pay and Google Pay can improve checkout convenience by letting customers use saved cards or device-based payment methods at checkout.
| What to consider | Details |
|---|---|
| Main benefit | Faster, more familiar checkout, especially on mobile. |
| Best for | Ecommerce stores, mobile-first retailers, restaurants, event businesses, marketplaces and businesses where customers may abandon checkout if payment feels slow. |
| Typical cost | Costs usually depend on the payment provider and the underlying card transaction, rather than a separate “wallet” fee. |
| Shopify Payments example | If Apple Pay or Google Pay is accepted through Shopify Payments, the relevant Shopify Payments card rate and plan terms may apply.8,9,10 |
| Other providers | If accepted through PayPal, Square, Worldpay or Adyen, check the provider’s live pricing. |
Before adding digital wallets, check:
- Whether your payment provider supports Apple Pay, Google Pay or other wallets
- Whether wallet payments work with your ecommerce platform, checkout or POS setup
- Whether wallet transactions are charged at the same rate as normal card payments
- Whether extra fees apply for international cards, currency conversion or chargebacks
- Whether the wallet supports your customers’ preferred devices and browsers
Open banking and Direct Debit
Open banking and Direct Debit can be useful alternatives to card payments, particularly for recurring invoices, subscriptions, high-value invoices, account-to-account payments and businesses trying to reduce card dependency.
| Payment type | How it works | Useful for | What to check |
|---|---|---|---|
| Direct Debit | The customer authorises the business to collect payments from their bank account. | Memberships, SaaS, utilities, professional services, instalment plans and invoice collections. | Customer notifications, failed payments, refund handling and Direct Debit Guarantee processes. |
| Open banking | Customers authorise a bank-to-bank payment from their banking app or online banking environment. | One-off invoice payments, account top-ups, high-value transactions and businesses looking to avoid some card network costs. | Provider availability, customer experience, settlement timing and bank coverage. |
Compared with cards, these options may reduce some card processing costs, but they can come with trade-offs. Customers may be less familiar with bank payment flows than card or wallet checkout, and refund or dispute handling may feel different.
Before using open banking or Direct Debit, check:
- Whether you need one-off payments, recurring payments or both
- Transaction fees, monthly fees and minimum charges
- Settlement timing and failed payment handling
- How refunds, payment errors and disputes are managed
- Whether your accounting, invoicing or subscription tools integrate with the provider
- Whether customers are likely to be comfortable paying by bank transfer or Direct Debit
Manage international business payments with Wise
For UK SMEs selling internationally or paying suppliers overseas, Wise Business is an option worth considering.
With Wise Business, you can:
- 🌍 Send money to 70+ countries 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
- 🏢 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 an online payment system?
An online payment system lets businesses accept and manage digital payments from customers. Depending on the provider, it may include:
- Card payment processing
- Hosted checkout pages
- Payment links
- Online invoices
- Subscription billing
- Digital wallet payments
- Direct Debit or open banking payments
- Fraud prevention tools
- Refunds and dispute management
- Reporting and reconciliation
A payment gateway is one part of an online payment system. It captures payment details and passes them for authorisation. Many modern payment service providers (PSP) combine payment gateways, processing, risk tools and payouts into one service.19
Which online payment provider is the cheapest?
It depends on transaction size, domestic vs international card mix, currency conversion, chargebacks, monthly fees, and payout fees. Compare total cost, not just headline card fees.
Sources:
- Sole Proprietorship Business Solutions | PayPal UK
- PayPal Seller Protection
- PayPal Partner Directory
- PayPal Worldwide Availability
- PayPal Business Fees
- Square - Payment links
- Square Up - Online payments
- Shopify Help Center - Shopify Payments for the United Kingdom
- Shopify Help Center - Customer payment methods with Shopify Payments in the United Kingdom
- Shopify UK pricing
- Shopify Help Center - Currency conversions and exchange rates
- Worldpay - Card payments
- Worldpay - Small business guide to accepting recurring payments
- Adyen - Financial technology platform
- PayPal - How PayPal works
- Shopify Help Center - Shopify Payments payouts in the United Kingdom
- Google Pay API - Overview
- GoCardless - Pricing
- Stripe - Payment processor vs payment gateway
- Pricing for supported payment methods - Adyen
Sources last checked on 23 June 2026
*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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