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Payset and the Payment Landscape: Airwallex, Revolut, Wise, Bunq, Payoneer Alternatives

Fintech and banking

Nov 18, 2025

4 min. read

Michael Dalton

Author

Payset stands out in a crowded payments landscape by offering flexible, developer-free global accounts, bulk payments, and multi-entity controls. This article highlights how Payset compares to major providers—like Airwallex, Wise, Revolut, Payoneer, and others—so businesses can find a platform that fits their structure, workflows, and international needs.

Airwallex

Pricing: Tiered business accounts starting at £19/mo (plus fee waiver)

Airwallex is an Singapore-based global payments and banking platform that now serves more than 150,000 businesses around the world.

The API-focused platform boasts the slogan “Global payments, made local,” with various payment features providing support for about 70 to 180 countries.

Airwallex offers basic features including accounts, Currency exchange, spending cards, and payment acceptance tools alongside an extensive API tech stack that can help businesses automate and interconnect certain payment activities.

There’s one caveat: Airwallex’s advanced features are most valuable if you can leverage them through an in-house development team. If you have limited internal development capacity, you’ll only see Airwallex’s basic benefits.

Payset provides an alternative for small-medium businesses that don’t have large in-house dev teams. It is also tailored for holding companies and complex corporate structures, for whom Airwallex might be a bit too heavy of a solution. Payset excels comparatively with advanced features like bulk payments, team access, and transaction management through a simplified dashboard, which we believe is optimal for payment workflows.

Explore competing options below or try Payset with no sign-up fee. For a more detailed comparison to Airwallex, read our Airwallex review.

Wise

Pricing: “Pay what you use” pricing on personal and business accounts

Wise is one of the best-known international payment platforms, offering global money transfers and transparent FX rates as core features.

Offering “money without borders,” Wise broadly supports about 160 countries and 40 currencies, and users can receive payments internationally with local account details in 21 currencies. It also offers bank connectivity, APIs, and more.

This one-size-fits-all approach makes Wise ideal for small and medium enterprises that need price clarity rather than bespoke workflows.

However, Wise is weak on tailored payment solutions, especially when it comes to multi-entity treasury and granular approval chains. That can make it challenging to manage large teams and complex payment flows through Wise.

Payset provides a viable alternative through transparent pricing and payment tools that are adaptable to almost any workflow. For a complete Wise comparison to Payset, read our full Wise review.

Open a Payset account today.

Revolut Business

Pricing: Business plans from £10/mo and upward

Personal plans from free to £55/mo (introductory price)

Revolut is a UK-focused payments service that is increasingly available globally.

The company offers app-led services that include financial accounts, payment cards, and expense management tools while offering a modern interface focused on providing speed and an “all-in-one” UX.

Revolut’s currency exchange offers support for sending, spending, and trading over 30 currencies, while cards support spending in over 150 currencies.

Revolut is useful for startups and SMEs that need cards and expense tools alongside payments — but in our view, it’s less than ideal for holding structures that need corridor cutoffs and intercompany workflows.

At Payset, we try to fill this gap by giving you fine control over your transactions. Learn more about our spending control features before signing up.

For a more detailed comparison, read our full Revolut review.

Payoneer

Pricing: Freelancer and business accounts with percentage-based fees

Payoneer is a US-based global payment network that is expanding around the world and now maintains significant UK and EU presences.

The company is focused on providing local receiving accounts and mass payout accounts to users around the world. Cross-border sellers, marketplaces, and freelancers are target users of Payoneer’s services.

Though it’s a strong option, we see shortcomings around Payoneer in the areas of group-treasury management and multi-entity governance.

That can make it hard to use Payoneer within a complex company with several members. Payset’s team management tools aim to provide a strong alternative.

For a more detailed comparison, read our full Payoneer review.

Bunq

Pricing: Business plans from €0 to €24/mo

Personal plans from €0 to €19/mo

Bunq is a neobank that’s focused on providing business accounts throughout the European Economic Area (EEA) under a sustainable or “green” business model.

It offers multi-currency IBAN accounts to businesses across multiple regions including but not limited to the Netherlands, Germany, France, Spain, and Ireland, plus personal accounts in several additional countries.

Bunq offers business accounts in 22 currencies, foreign currency transfers in 39 currencies, international IBAN accounts, and a variety of related features.

That makes Bunq a strong option for EU-focused SMEs and freelancers — but it has limited availability outside Europe and doesn’t cater to specific company structures such as holding companies.

Learn more about how Payset serves holding companies and other businesses, or reach out to us to find out how we can cater to your sector.

For a more detailed comparison, read our full Bunq review.

Additional Payment Services: Nium, WorldPay, PayPal Alternatives, and More

PayPal

PayPal is one of the longest-standing digital payment platforms and is now virtually synonymous with online payments. It offers numerous business and commercial services beyond its well-known peer-to-peer (P2P) transfer functions, from payment processing and checkout to assorted developer tools.

Pricing: 2.9% + fixed fees for many commercial transactions in the UK, with varied fee structures for personal and other transactions

Adyen

Adyen is an Amsterdam-based payment processor with global reach that’s preferred by many businesses in the EU. It’s focused on end-to-end payments, data, and financial management, with API options for developers.

Pricing: Fixed processing fee plus fees based on payment method

Rapyd

Rapyd is a payments platform with an alternative aesthetic. It’s oriented toward creators, influencers, and other users with a heavy web presence as well as businesses in general. Services include card acquiring and global payouts plus API access for developers who want to build on the platform.

Pricing: Per-transaction pricing (Interchange++) combined with fixed fees

Worldpay

Worldpay is a payment company with a complex ownership history — but it has ties to the US, UK, and other countries, making it well-suited to users in many locations. It concentrates on providing merchant services to businesses but also offers embedded payments aimed at software developers.

Pricing: Rates not disclosed on website (must contact for specific pricing)

Checkout.com

Checkout.com is a London-based fintech company that supports payment processing, local acquiring, outgoing payment management, and card issuing. The company advertises APIs, fraud protection, AI and automation, and other advanced functions to help businesses expand their operations.

Pricing: Flat rate with Interchange++ fees

Nexi

Nexi bills itself as the European PayTech. It provides simplified payment services to businesses, banks, and other organizations. It also offers API access focused on a few areas, such as payments, back-office operations, and “disputeless” payment models such as hotels and restaurants.

Pricing: Rates not disclosed on website (must contact for specific pricing)

OpenPayd

OpenPayd is a UK-based fintech focused on open banking. Aside from basic payment sending and handling, it provides access to virtual IBANs, banking-as-a-service, and other digital financial technologies. OpenPayd also offers a “single, seamless API” accompanied by a sandbox testing environment.

Pricing: Rates not disclosed on website (must contact for specific pricing)

Nium

Nium is a global, real-time payments platform aimed at fintechs, banks, and other companies. The platform offers multi-currency accounts, global FX exchange, card issuance, and more, plus extensive advanced API features.

Pricing: Rates not disclosed on website (must contact for specific pricing)

Sign Up for Payset!

Not sure which platform to sign up for? If you choose Payset, you’ll get access to several benefits and features, including:

Multi-currency IBANs and FX — we offer IBAN accounts for over 34 currencies, plus foreign exchange for more than 38 currency pairs
International support spanning across more than 180 countries
Fast onboarding and free sign-up — see our pricing page for complete costs including monthly fees and transaction fees

Bulk payments so you can send money to several recipients at once
Team access, allowing your company members to share an account with individually set user permissions
Transaction tracking and monitoring so you can see the status of any transaction for stronger accounting and treasury oversight

Transparent, real-time conversion rates on our FX exchange

Free customer support from our support team (plus dedicated account managers by subscription)
Crypto-friendly policies — we support incoming deposits from select cryptocurrency exchanges (for users outside the UK)

Disclaimer: Pricing, features, and details on this page are based on competing websites at the time of writing (November 2025). Details may change over time, vary by region, and do not cover all service options offered by competitors. Users should verify details with competitors. Payset does not endorse or represent any competitor, nor have competitors endorsed the above content. Payset and related parties disclaim liability for any errors or actions taken based on this content. Information is for general purposes only and offered at the user’s own risk.

References

A UK multi-currency account can streamline how you manage your finances. Whether for business or personal use, a multi-currency account provides you with added freedom and flexibility and removes barriers to payments and transfer methods.

Here is everything you need to know about UK multi-currency accounts.

A Payset UK multi-currency account is a single account with which you can hold, send, and receive funds in up to 38 currencies. This allows business or personal account holders to save endless time and money on foreign exchange, and money transfers, which from a traditional bank account would be far more expensive and slow.

From your personal UK-based IBAN account, you can transfer money to bank accounts around the world as well as send and receive free and instant transfers to and from other Payset clients. You can send funds using a diverse network of payment networks, including SWIFT, SEPA, Target2, Faster Payments, CHAPS, and more.

When you exchange funds from one currency to another, there are no margins added to our exchange rates and the fees are clearly displayed before you click send. If you, for example, work with multiple currencies, make purchases in other countries, travel frequently, invest in foreign currencies, pay staff in other countries, or receive payments in other currencies, a multi-currency account can save you time, money, and work compared to a traditional bank account.

There are lots of banking institutions and financial services that will aid you in opening a multi-currency account. Often they can allow you to convert and transfer a considerable number of currencies.

Before you open a UK multi-currency account with any platform or service, make sure you have explored all of the different options available to you and have found the best type of account to suit your financial needs.

How Does a UK Multi-Currency Account Work?

A UK multi-currency account works in the same way as a standard bank account or electronic wallet. Although the services provided will change depending on where you choose to open your account and who you choose to open the account with, all multi-currency accounts should allow you to:

Withdraw money

Send and receive payments in multiple currencies internationally

Access your funds for electronic transfers

Earn interest on your account total

In the same way that fees can occur with a standard bank account you may run into additional charges with a UK multi-currency account.

You could be charged for a number of actions including; making withdrawals, account opening and closure fees, transfer fees, and more.

The frequency or amount of these charges will often vary and if you ask your banking agency they will usually be able to tell you exactly how much you will be charged and which services you will be charged for before you open your account.

Alternative Options to Consider Before Opening a UK Multi-Currency Account

There are many alternatives to opening a UK multi-currency account. For example, there are also money transfer services and online electronic wallets such as Payset that allow you to send your money in over 34 currencies without the need for a UK multi-currency account. You can start sending money across the globe or in person today using your existing bank account.

Frequently asked questions

What is a UK multi-currency account/IBAN?

Are there limits to the amount of money I can send and receive with a UK multi currency account?

Which currencies can I send and receive in my UK multi currency account?

How do I add money to my UK multi currency account?

Types of UK Multi-Currency Accounts

Multi-currency IBAN accounts
Personal multi-currency accounts
Multi-currency accounts for business
Multi-currency cash passports
Multi-currency wallets

Information contained in this publication is provided for general education and information purposes only and should not be construed as legal, tax, investment or other professional advice or recommendation, or an offer of, or solicitation for, any transactions or any other actions (or refraining therefrom); This material has been prepared without taking into account any particular recipient’s financial objectives or situation. We make no warranty, guarantee or representation, whether express or implied, as to the completeness or accuracy of the information contained herein or fitness thereof for a particular purpose; Use of images and symbols is made for illustrative purposes only and does not constitute a recommendation or advice to take or refraining from any action; Use of brand logos does not necessarily imply a contractual relationship between us and the entities owning the logos, nor does it represent an endorsement of any such entity by Pay Set Limited, or vice versa; Market information is made available to you only as a service, and we do not endorse or approve it; Any reference to past performance, predicted returns, or likelihood performance scenarios may not reflect actual future performance and certainly do not guarantee future outcomes.