Which Cross-border e-Commerce payment platform charges the least?

Choosing a payment platform for cross-border e-commerce requires taking into account several of factors, such as fees, service coverage, security, and ease of use. So, which cross-border e-commerce payment platform has the lowest fees? To help you in making a more informed decision, this article provides a detailed comparison and introduction to three common payment platforms: PingPong, iPayLinks, and Wise.

1. PingPong

PingPong, which was established in 2015, is an expert in offering payment options for international e-commerce. It covers more than 200 countries and regions and offers settlement, payment, and collection services across a number of significant e-commerce platforms, including Amazon and Wish.

Advantages

Industry Focus: Concentrate on the e-commerce sector and provides users with tailored services to help them overcome obstacles related to cross-border payments. Supply chain finance and B2B trade payments are just two of the financial derivative services provided by Diverse Financial Services.

Charges & Fees

• There are no account fees for any collection account. Account opening, management, activation, and collection are all free of charge.
• RMB Transfer Fee: The fee for sending RMB is 0.4%.
• Initial Money $10 USD is the withdrawal fee per transaction.

www.pingpongx.com is the official website.

2. iPayLinks

Founded in 2015, iPayLinks is a cross-border payment and fund settlement service provider, supported by several well-known investment institutions, and has obtained payment service licenses in Saudi Arabia and Dubai.

Advantages

1. Global Coverage: Supports foreign trade collections and global payments in multiple countries and regions, covering 150 countries and regions.
2. Localized Solutions: Provides localized payment solutions in the Middle East, beneficial for expanding into the Saudi and Southeast Asian markets.

Fees

1. Rates: Fees as low as 0.7%, with specific rates varying based on the transaction and service content.

Official Website: www.ipaylinks.com

3. Wise

As an established international remittance service platform, Wise (formerly TransferWise) is trusted by users worldwide for its transparent and low-cost services. It supports over 40 currencies and covers more than 80 countries and regions.

Advantages

1. High Recognition: Known for its reputation, Wise offers options for both personal and business accounts, providing an excellent user experience.
2. Partnerships: Supports various e-commerce and business collaborations, including partnerships with Monzo, Bolt, and GoCardless.

Fees and Charges

1. Platform Fees: 0.44 GBP + 0.59% of the exchange amount.

Official Website: www.wise.com

4. Summary

1. Fee Comparison

• PingPong: RMB transfer fee is 0.4%.
• iPayLinks: Fees as low as 0.7%.
• Wise: Charges 0.44 GBP + 0.59% of the exchange amount.

PingPong has a slight advantage in terms of lower fees, particularly for handling large transactions.

2. Service Features

• PingPong and iPayLinks: Both focus on cross-border e-commerce payments, providing customized service solutions suitable for different types and scales of e-commerce needs.
• Wise: Known for its simple, transparent payment experience and global coverage, making it suitable for users needing multi-currency payments.

3. Applicability

• PingPong and iPayLinks: More focused on the e-commerce industry.
• Wise: More suitable for personal and small-scale business payments.

Choosing the right platform depends on the specific needs of the business.