What are international business payments?

Businesses are no longer confined by geography. But behind every global transaction lies one critical question: How does the money move across borders?

Welcome to the world of international business payments, a complex part of modern commerce that quietly powers global supply chains, payrolls, and investments. From traditional wire transfers to modern fintech platforms, the methods of sending money internationally have evolved rapidly to meet the demands of speed, security, and cost efficiency.

In this guide, we’ll review international business payments: what they are, how they work, and why choosing the right payment method affects your global growth.

Whether you're a startup exploring your first overseas supplier or a multinational optimizing cross-border transactions, understanding the mechanics and best practices of international payments matters for every business that sells or buys across borders.

Last reviewed: October 2026

International business payments move money between companies in different countries, by wire transfer, card, regional bank network, fintech platform or letter of credit. The right method depends on payment size, speed, cost and where your counterparty banks. Nuvei supports local acquiring in 52 markets.

Key takeaways

• Wire transfers suit large one-off payments, while ACH and SEPA suit smaller recurring payments inside their regions.
• Your total cost is the transfer fee plus the currency exchange margin plus any intermediary bank fees.
• Multi-currency accounts, consolidated payments and rate monitoring reduce conversion costs.
• AML, KYC and sanctions checks apply to every cross-border payment you send.

What are international business payments?

International business payments refer to the transfer of money between entities located in different countries or regions of the world.

This transfer can serve multiple business purposes, such as purchasing goods or services, paying for overseas staff and collaborators, securing stock, and making investments. The transfer can occur between two businesses, for example, a supplier and a purchaser, or between a business and an individual, for example, in eCommerce retail.

International payments vs domestic payments

International payments, also known as cross-border payments, typically involve multiple currencies and require currency conversion.

Domestic payments, by contrast, are made between entities in the same country and typically involve a single currency. Domestic payments are typically faster and more cost-effective, given the lack of exchange currency.

What are the methods of payment in international business?

International business payments can be made in several ways, and each one fits a different payment size, speed and cost profile.

• International wire transfer: best for large one-off supplier payments. Main trade-off: higher fees; needs the SWIFT or BIC code and IBAN.
• Fintech payment platform: best for regular payments in several currencies. Main trade-off: the recipient may need an account.
• SEPA or ACH: best for recurring payments inside the SEPA area or the US. Main trade-off: limited to specific regions.
• Debit or credit card: best for small supplier payments and recurring expenses. Main trade-off: built mainly for consumer purchases.
• Letter of credit: best for high-value import and export trades. Main trade-off: needs documentation before payment is released.
• Cryptocurrency: best for payments between parties that both hold wallets. Main trade-off: high volatility.
• Money order or check: best for regions with limited access to digital payments. Main trade-off: slower than digital methods.

International wire transfers

International wire transfers are the most common method of payment in international business. They offer a direct bank-to-bank transfer, although they can incur relatively high fees compared to other methods. These payments are typically processed through systems like SWIFT (Society for Worldwide Interbank Financial Telecommunication), which connects financial institutions globally.

To make an international wire transfer, businesses need accurate beneficiary details, including the recipient’s name, account number or IBAN (International Bank Account Number), and the bank’s SWIFT/BIC code.

Fintech payment platforms

Fintech payment platforms are digital services that allow users to send and receive money internationally. Many of these platforms offer multi-currency business accounts, which allow their users to pay, collect and hold money in several currencies. With lower fees and quicker processing times, fintech payment platforms are becoming increasingly popular for international business transactions.

To make an international payment via a FinTech platform, businesses typically need to register for a verified account and provide basic company and banking information. Once verified, they can send payments by entering the recipient’s email address or account details, along with the amount and the currency. Some platforms require the recipient to have an account with the service, while others allow recipients to accept international payments without an account.

Transactions are processed through the platform’s internal network or local banking partners, often without intermediaries. This allows for faster settlement times and reduced transaction costs compared to conventional wire transfers. Many fintech platforms also offer exchange rates when facilitating international payments, often at more competitive rates than traditional banks.

Mobile & eWallets

Mobile and e-wallets, like Google Pay, are digital payment methods that allow users to make international payments via their smartphones or computers. They are mainly used by consumers for e-commerce retail or monthly subscription services.

Debit & credit cards

Debit and credit cards can also facilitate international business payments. While primarily used for consumer transactions, they can also play a role in some recurring expenses for businesses, like small-scale supplier payments.

Card payments settle through your payment processor and the banks involved, so timing depends on your provider.

Electronic payment networks

In addition to international wire transfers, electronic networks like SEPA (Single Euro Payments Area) and ACH (Automated Clearing House) provide alternative methods for international payments. They enable secure and cost-effective transfers but are only available within specific regions.

The ACH network is primarily used for US-based domestic transactions, but can also support international payments to certain countries. To make international ACH payments, businesses must partner with an ACH-compatible financial institution or payment service provider. The sender initiates payment by providing the recipient’s bank account details, including the ACH routing number.

The SEPA network is primarily used in Europe, so it suits payments between businesses that bank in the SEPA area.

International money orders & checks

International money orders and checks are paper-based financial instruments that can be used to send money abroad. While less common and slower than traditional bank transfers or electronic methods, they can be a viable option in regions with limited access to digital payments or for businesses that prefer physical forms of payment.

International checks are issued by the seller's bank in one country and are payable to the buyer's foreign bank, usually in a different currency. International money orders are usually sent through mail or transmitted electronically via a third-party provider. They can be purchased at banks, financial institutions, post offices or retail stores.

Cryptocurrencies

Cryptocurrencies are virtual currencies based on blockchain technology. Unlike traditional fiat, like the GBP or the EURO, cryptocurrencies are universal and do not require foreign exchange. Cryptocurrencies are, however, more rarely used due to their high volatility, which makes them a less predictable option for international transactions.

To make an international payment using cryptocurrencies, businesses need a cryptocurrency wallet and the recipient's wallet address. The payment is made directly from one wallet to another through the blockchain, without any intermediaries such as banks.

Letters of credit

A letter of credit is a financial document typically issued by the buyer’s bank which guarantees payment to the seller once specific conditions, such as providing shipping or quality documentation, are fulfilled. This method provides financial security for the seller since the bank guarantees payment, even if the buyer has insufficient funds. It is most commonly used in international trade, especially in high-value import and export transactions.

What are the best practices for sending and receiving international business payments?

To move funds across borders with fewer delays and surprises, follow these practices.

Understand the costs involved

International payments involve several charges. Understanding these costs helps any business looking for an efficient way to send and receive international payments.

• Transfer (transaction) fees are charged by the payment service provider (typically a bank) for processing the payment. The total cost can vary depending on the amount of the transaction and the recipient’s country. Some providers offer a fixed fee structure, which can provide predictability and consistency, especially for businesses making regular, smaller payments.
• Currency exchange fees are charged when exchanging one currency for another. They are usually based on the exchange rate at the time of the transaction, but may also include an additional margin or markup applied by the financial institution or payment provider. Businesses may also have to pay a flat charge for the exchange service. This is known as a currency conversion fee.
• Intermediary bank fees are charges levied by banks that serve as intermediaries during the transaction process. Intermediary banks facilitate the international transfer of funds between two banks that do not have a working relationship. They are fairly common in international business payments and can significantly impact the overall cost of the transaction.
• Other fees can include charges for services like payment tracking or urgent transfers. Providers may also impose additional fees for certain payment methods, such as credit card payments or cash pick-ups.

Analyze transaction volumes

Before choosing a method for international payments, businesses should assess their current and expected transaction volume and select a plan accordingly. Banks offer different account options depending on the frequency of transfers, and if a business exceeds the transaction limit of its chosen plan, it could result in payment delays or disruptions.

Many providers also offer better terms for high-volume or recurring transactions. Regular transfers can, therefore, benefit from certain discounts or preferential rates, as well as a simpler process. Infrequent transfers, on the other hand, face higher processing fees or less favorable exchange rates.

Ensure regulatory compliance

Cross-border business payments must comply with various regulations, including anti-money laundering (AML) and know-your-customer (KYC) laws. Countries also have varying rules around currency controls, tax reporting, and sanctions. If you do not comply, you can face fines and legal costs, as well as delays or blocked payments.

Set out clear payment terms

Clear terms prevent delays and financial risks in every international payment. When businesses operate across borders, they face varying banking systems, currencies and processing times. Setting out precise terms, such as the currency, payment method (e.g. wire transfer or card), deadlines, and applicable fees, ensures both parties are aligned.

In business-to-business transactions, payment terms are typically negotiated between the parties and formally documented in a binding legal contract or purchase order. For consumer transactions, payment terms are typically outlined in the terms and conditions of sale, which customers must accept before making a purchase or subscription.

Analyze your supplier & customer base

To choose the most efficient way to pay internationally, businesses need to examine the payment methods and currencies used by their customers and suppliers.

As businesses seek to source materials from global suppliers, understanding their payment preferences and requirements helps you avoid unnecessary fees and keeps transactions moving within the supply chain. Understanding your customers' payment preferences improves customer satisfaction, drives revenue growth, and reduces card abandonment.

Verify & monitor payment security

As international business payments involve multiple parties, currencies, and banking systems, the risk of data breaches or unauthorized transactions increases. Implementing strong security measures, such as encryption, multi-factor authentication and fraud and risk management tools, helps reduce these risks.

Businesses must monitor their payment security continuously and ensure that any suspicious activity is detected early. Regular audits, secure payment gateways, and compliance with data protection regulations help maintain trust with suppliers and customers.

How to optimize cross-border transactions?

To improve the efficiency of cross-border payments, you can:

1. Use fintech platforms: Many fintech platforms offer all-in-one tools for international transactions. Smart routing, for example, automatically selects the fastest and most cost-effective route for international payments, based on destination and currency. Fintech platforms also reduce the reliance on manual processes and provide payment scheduling tools to ensure timely and efficient transactions.
2. Choose efficient partners: Choosing the right payment partners can simplify international payments. If your business sends money to a particular country or region, for example, you should partner with a platform that offers fast processing times and competitive fees for that specific country or region. Make sure your chosen partner can connect to your systems and support the payment methods preferred by your suppliers and consumers.
3. Use correct details: Accurate payment details prevent errors and delays. Providing precise bank account information and clear invoicing instructions prevents failed or misdirected payments.

How to reduce fees in international payments?

To reduce fees in international payments, businesses can:

1. Open multi-currency accounts: This strategy allows businesses to hold and manage their funds in different currencies, reducing the need for frequent currency exchange. Multi-currency accounts minimize conversion costs and eliminate the intermediary fees associated with international payments. They are usually offered by fintech payment platforms and some traditional banks.
2. Monitor exchange rates: Businesses should regularly keep an eye on the market and choose the most competitive exchange rates available. Since exchange rates are based on real-time market value, which can fluctuate, businesses can time their transactions to take advantage of favorable fluctuations. Many fintech platforms and financial institutions offer rate alert features, which allow businesses to get notifications when the rates reach a target level. Businesses can also use foreign exchange brokers, which often provide more competitive rates.
3. Consolidate payments: Instead of small international money transfers, businesses can consolidate payments into fewer, larger transactions that can reduce the total fees incurred. Since many payment providers charge a flat fee per transaction, consolidating payments can spread out the costs and reduce the overall expense.

How to ensure compliance in international payments?

To ensure compliance in international payments, businesses can:

1. Conduct due diligence: You should conduct thorough due diligence and verify the identity of recipients before initiating any payment transactions. They must also ensure that the recipient and the recipient's bank are not listed on relevant sanction lists or involved in fraudulent activities.
2. Establish internal controls for outgoing payments: Businesses can also implement internal compliance protocols and procedures, such as limiting payment amounts and requiring multiple levels of approval for large payments.
3. Keep transaction records & receipts: Keeping comprehensive transaction records and receipts supports accounting, tax, and auditing purposes. By keeping detailed records of their international payments, businesses can ensure compliance with tax regulations and have accurate documentation for financial reporting and audits.

How Nuvei handles this

If you sell to customers in other countries, Nuvei supports local acquiring in 52 markets, 150 currencies and more than 720 alternative payment methods. That lets you offer the methods your customers already use and route payments locally, which supports higher approval rates than cross-border routing. Third party payment methods belong to their owners, and Nuvei supports them for you. Best for: merchants selling into several markets that want local acquiring and local payment methods. If you mainly send occasional large payments to suppliers, a bank wire or a fintech platform may fit better.

Frequently asked questions

What is the cheapest way to send an international business payment?

The cheapest method depends on the payment size and the countries involved. ACH and SEPA suit smaller recurring payments inside their regions, while a wire transfer suits a large one-off payment. Compare the transfer fee, the currency exchange margin and any intermediary bank fees before you choose.

What details do I need for an international wire transfer?

You need the beneficiary name, the account number or IBAN, and the SWIFT or BIC code of the recipient bank. Check these details before you send, because wrong details cause failed or misdirected payments.

Can I pay a supplier by card?

Yes, cards can cover small-scale supplier payments and recurring expenses. Cards are built mainly for consumer purchases, so larger supplier invoices usually fit a wire transfer or a fintech platform better.

How do I reduce currency conversion costs?

Hold funds in a multi-currency account so you convert less often, monitor exchange rates and set rate alerts, and consolidate small transfers into fewer, larger payments. Many providers charge a flat fee per transaction, so fewer payments mean fewer fees.

Which compliance checks apply to international business payments?

Anti-money laundering (AML) and know-your-customer (KYC) rules apply, along with sanctions screening, currency controls and tax reporting rules that vary by country. Verify each recipient before you pay and keep records of every transaction.

What to do next

Managing international payments well helps any business that buys from or sells to other countries. By understanding payment methods and the preferences of your customers and suppliers, you can choose the method that fits your supply chain and protects your margin.

Different payment methods, such as international wire transfers, fintech platforms, electronic networks, or cryptocurrencies, offer different benefits depending on the region and business requirements.

Businesses must also implement best practices to reduce transaction costs and ensure compliance. Opening multi-currency accounts, monitoring exchange rates, and conducting thorough due diligence on payment recipients can significantly reduce the costs and risks associated with international payments.

Partner with a payment service provider like Nuvei and find out how international business payments work to make your business successful.