OFX vs Airwallex vs Wise: Which is best for Amazon sellers?

Choosing the right payment provider can make or break your Amazon business. With cross-border transactions, currency conversions, and marketplace fees eating into your margins, the payment platform you select directly impacts your bottom line. Amazon sellers face unique challenges – from managing multiple marketplace currencies to handling supplier payments across different countries – and not all payment providers are created equal.

This comprehensive comparison examines three leading payment solutions for Amazon sellers: OFX, Airwallex, and Wise. We'll analyze their features, pricing structures, and capabilities to help you make an informed decision for your e-commerce operations.

Understanding Amazon sellers' payment needs

Amazon sellers operate in a complex financial ecosystem. You're dealing with marketplace disbursements in various currencies, paying international suppliers, managing VAT obligations across different regions, and trying to optimize cash flow while minimizing currency conversion losses.

The right payment provider should address several critical requirements:

Multi-currency account management – You need to receive payments from different Amazon marketplaces without losing money on conversions. Whether you're selling on Amazon.com, Amazon.co.uk, or Amazon.de, holding funds in local currencies helps you avoid unnecessary exchange rate losses.

Competitive exchange rates – Currency conversion costs can significantly impact your profit margins. Even small differences in exchange rates compound over thousands of transactions.

Fast settlement times – Amazon's payment cycles already create cash flow challenges. Your payment provider shouldn't add additional delays.

Integration capabilities – Seamless connections with your accounting software, inventory management systems, and other business tools save time and reduce errors.

Scalability – As your Amazon business grows, your payment infrastructure needs to handle increased transaction volumes and expand into new markets without friction.

OFX: Traditional forex with modern features

OFX brings decades of foreign exchange experience to the e-commerce world. Originally established as OzForex, the company has evolved from a traditional forex broker into a digital-first payment platform serving businesses worldwide.

Key features for Amazon sellers

OFX offers dedicated relationship managers for high-volume sellers, providing personalized support for complex international payment needs. Their platform supports transfers to over 170 countries, making them suitable for sellers working with suppliers across diverse markets.

The company provides forward contracts and limit orders, allowing sellers to lock in exchange rates for future transactions. This hedging capability helps protect against currency fluctuations, particularly useful when planning large inventory purchases.

OFX's global account feature enables sellers to receive payments in multiple currencies, though the range of supported currencies is more limited compared to some competitors. They offer USD, EUR, GBP, AUD, CAD, NZD, SGD, and HKD receiving accounts.

Pricing structure

OFX doesn't charge transfer fees for transactions above their minimum thresholds, which vary by currency. However, they build their revenue into the exchange rate spread, typically ranging from 0.5% to 2% depending on the currency pair and transfer amount.

Larger transactions generally receive better rates, with negotiated pricing available for high-volume sellers. Monthly transfer volumes exceeding certain thresholds can unlock preferential rates through their OFX Global Currency Account.

Limitations for e-commerce

OFX's platform lacks some modern features that digital-native sellers expect. There's no dedicated mobile app for business users, limiting on-the-go account management. API integration options are limited compared to newer fintech solutions, potentially creating challenges for sellers using automated workflows.

The minimum transfer amounts can be restrictive for smaller sellers or those making frequent small payments to suppliers. Additionally, OFX doesn't offer corporate cards or expense management tools that many e-commerce businesses find valuable.

Airwallex: Built for modern e-commerce

Airwallex represents the new generation of financial services providers, designed from the ground up for digital businesses. ¹.

Comprehensive payment infrastructure

Airwallex provides global accounts with local bank details in multiple countries, enabling Amazon sellers to receive marketplace payouts directly without intermediary banks. ².

The platform supports holding balances in over 20 currencies, with instant conversions between supported currencies. Sellers can strategically time their conversions to optimize exchange rates, rather than being forced to convert immediately upon receipt.

Airwallex's API-first approach enables deep integration with e-commerce tools and platforms. Sellers can automate payment workflows, synchronize transaction data with accounting systems, and build custom payment solutions tailored to their specific needs.

Corporate cards for operational efficiency

Airwallex's Corporate Card program provides virtual and physical cards that integrate directly with the platform's multi-currency accounts. Sellers can issue cards to team members for advertising spend, inventory purchases, and operational expenses, all drawing from their held currency balances.

The cards offer real-time expense tracking, customizable spending controls, and automatic receipt capture through their mobile app. This integrated approach simplifies expense management and provides better visibility into operational spending.

Transparent and competitive pricing

². International transfers typically cost a flat fee plus a competitive exchange rate margin. The platform clearly displays all fees before transaction confirmation, eliminating surprise charges.

For high-volume sellers, Airwallex offers volume-based pricing tiers that can significantly reduce transaction costs. Their pricing model scales efficiently with business growth, making them suitable for both emerging and established Amazon sellers.

Advanced features for scaling businesses

Airwallex provides sophisticated financial tools typically reserved for larger enterprises. Their platform includes automated reconciliation features, detailed transaction reporting, and multi-user access controls with customizable permissions.

The company offers dedicated implementation support for businesses migrating from other providers, ensuring smooth transitions without disrupting operations. ¹.

Wise: Consumer-friendly with business capabilities

Wise (formerly TransferWise) built its reputation on transparent, low-cost international transfers for consumers before expanding into business services. Their straightforward approach and strong brand recognition make them a popular choice among smaller Amazon sellers.

Multi-currency account features

Wise's multi-currency account allows sellers to hold and manage funds in over 50 currencies. They provide local bank details in 10 currencies, enabling direct receipt of Amazon marketplace payouts in major markets.

The platform's auto-conversion feature can automatically convert received funds to a preferred currency when exchange rates meet specified criteria. This helps sellers optimize conversions without constant monitoring.

Wise's debit card links directly to multi-currency balances, allowing sellers to spend in local currencies without conversion fees when traveling or making international purchases.

Pricing transparency

Wise pioneered transparent pricing in international payments, clearly showing fees and exchange rates upfront. Their fees typically range from 0.35% to 1% of the transfer amount, depending on the currency route.

The company uses mid-market exchange rates without adding margins, making their pricing structure easy to understand and predict. This transparency helps sellers accurately calculate transaction costs and maintain healthy margins.

Platform limitations

While Wise excels at basic international transfers and currency holding, their platform lacks some advanced features required by growing e-commerce businesses. API capabilities are limited compared to more developer-focused platforms, restricting automation possibilities.

Wise doesn't offer corporate cards with the same flexibility as dedicated business platforms. Their business tools feel more like extensions of consumer features rather than purpose-built solutions for e-commerce operations.

Customer support can be challenging for complex business needs, with most support handled through automated systems and email. Sellers requiring dedicated support or complex problem resolution may find the service lacking.

Head-to-head comparison

Let's examine how these three providers stack up across key criteria for Amazon sellers:

Exchange rates and fees

Airwallex typically offers the most competitive rates for high-volume transactions, while Wise provides consistent transparent pricing across all transaction sizes. OFX's negotiated rates can be competitive for very large transfers but lack transparency.

Currency coverage

Wise offers the broadest currency holding capabilities, while Airwallex provides the most local receiving accounts. OFX covers the most destination countries for transfers.

Integration and automation

². Their platform enables sophisticated automation workflows that can significantly reduce manual payment processing.

Wise provides basic API access suitable for simple integrations but lacks the depth required for complex e-commerce operations. OFX offers limited API capabilities, primarily focusing on manual or semi-automated processes.

Settlement speed

Airwallex and Wise typically process transfers within 1-2 business days for major currency routes. OFX can take 1-3 business days depending on the destination and verification requirements.

For Amazon marketplace payouts, all three providers offer similar receiving speeds, with funds typically available within hours of Amazon's disbursement.

Customer support

OFX provides the most personalized support with dedicated relationship managers for qualifying accounts. Airwallex offers responsive multi-channel support with dedicated teams for larger businesses. Wise relies primarily on self-service and automated support systems.

Making the right choice for your Amazon business

Choose OFX if:

• You value personal relationships and dedicated support

• Your business makes large, infrequent transfers

• You need forward contracts for currency hedging

• Traditional banking relationships are important to your business

• You're comfortable with less technological automation

Choose Airwallex if:

• You need comprehensive API integration capabilities

• Corporate cards are essential for your operations

• You want transparent, scalable pricing

• Your business operates across multiple marketplaces

• You value modern, automated financial workflows

• You're planning significant business growth

Choose Wise if:

• Pricing transparency is your top priority

• You're a smaller seller with straightforward needs

• You hold balances in many different currencies

• Consumer-grade simplicity appeals to you

• You don't require extensive automation or integration

Implementation considerations

Transitioning to a new payment provider requires careful planning. Start by auditing your current payment workflows, identifying pain points and inefficiencies. Calculate your current total payment costs, including hidden fees and unfavorable exchange rates.

Test your chosen provider with small transactions before fully committing. Verify that marketplace payouts process smoothly and that supplier payments reach destinations without issues.

Consider running parallel operations during the transition period, maintaining your existing provider while gradually shifting volume to the new platform. This approach minimizes risk and allows time to optimize new workflows.

Future-proofing your payment infrastructure

The payment landscape continues evolving rapidly. ¹. When selecting a provider, consider not just current requirements but anticipated future needs.

Evaluate each provider's product roadmap and innovation track record. Platforms investing heavily in technology and new features are more likely to support your business as it scales and evolves.

Consider the provider's financial stability and regulatory compliance. Established providers with proper licensing and strong financial backing offer greater security for your funds and business continuity.

Conclusion

Selecting the right payment provider significantly impacts your Amazon business's profitability and operational efficiency. While OFX offers traditional forex expertise with personal service, and Wise provides transparent consumer-friendly pricing, ².

Airwallex's combination of competitive pricing, advanced integration capabilities, corporate cards, and scalable infrastructure addresses the full spectrum of e-commerce payment needs. Their platform grows with your business, supporting everything from initial marketplace expansion to enterprise-scale operations.

The investment in proper payment infrastructure pays dividends through reduced costs, improved cash flow, and operational efficiency. Take time to evaluate your specific needs, test potential providers, and choose the solution that best aligns with your business goals and growth trajectory.

Your payment provider should be more than a utility – it should be a strategic partner in your Amazon business's success. Make your choice carefully, implement thoughtfully, and regularly review performance to ensure you're maximizing value from your payment infrastructure.

FAQ

Which payment provider offers the best exchange rates for Amazon sellers?

Exchange rates vary between providers, with Wise typically offering mid-market rates with transparent fees, while Airwallex and OFX may offer competitive rates for larger transaction volumes. Amazon sellers should compare the total cost including fees rather than just the exchange rate, as each provider has different fee structures that can significantly impact the final amount received.

What are the key differences between Airwallex and Wise for international payments?

According to Airwallex's comparison analysis, the main differences lie in their target markets and feature sets. Airwallex focuses on business customers with advanced treasury management, multi-currency accounts, and expense management tools, while Wise serves both personal and business users with a simpler interface and broader global coverage. Airwallex typically offers more sophisticated business banking features, while Wise excels in user experience and transparency.

Do these payment providers integrate directly with Amazon Seller Central?

Integration capabilities vary by provider. Most major payment platforms offer some level of Amazon integration, either through direct API connections or third-party tools. Amazon sellers should verify specific integration features with each provider, as this can significantly streamline payment processing, inventory management, and financial reporting for marketplace operations.

What fees should Amazon sellers expect when using these payment providers?

Fee structures differ significantly between providers. Wise typically charges a percentage-based fee on transfers plus a small fixed fee, while Airwallex and OFX may offer tiered pricing based on transaction volume. Amazon sellers should consider not just transfer fees, but also account maintenance fees, currency conversion costs, and any additional charges for business features like multi-user access or API usage.

Which provider is best for Amazon sellers operating in multiple countries?

For multi-country operations, the best provider depends on your specific markets and transaction patterns. Wise offers the broadest global coverage with local bank details in many countries, making it easier to receive payments from various Amazon marketplaces. Airwallex excels in Asia-Pacific regions and offers sophisticated multi-currency management tools, while OFX may be better for larger volume transfers between specific currency pairs.

Can these payment providers help with Amazon seller account verification and compliance?

Most established payment providers can assist with account verification by providing necessary banking documentation and proof of business legitimacy that Amazon requires. However, compliance requirements vary by marketplace and region. Amazon sellers should confirm that their chosen payment provider can supply the specific documentation needed for their target marketplaces and ensure the provider meets Amazon's approved payment method requirements.

Citations

1. https://www.airwallex.com/ca/blog/wise-alternatives-and-competitors

2. https://www.airwallex.com/ca/blog/comparison-wise-vs-airwallex