WorldFirst payments: A complete guide for Hong Kong businesses

As eCommerce and B2B trade continue to globalise, the simple act of moving money: collecting, converting, settling, ends up dictating more than just convenience. It shapes cash flow, and squeezes or saves margin. In this article, we break down the essentials of WorldFirst, and how it compares against the other common alternatives that Hong Kong SMEs usually consider.

What is WorldFirst?

WorldFirst, the cross-border payment platform from Ant International, offers businesses a one-stop solution on collections, payment, and fund management. The system backs eCommerce and B2B foreign trades across the border, enabling merchants to conduct multi-currency collection in diversified markets, amalgamate payments on the same platform and cash-out to local or overseas banks. For SMEs in Hong Kong, WorldFirst helps you manage multiple currencies and transactions.

Accounts types, collection methods, and platform integrations

WorldFirst accounts span across three primary types: B2B trade, cross-border eCommerce, and overseas-entity accounts (accounts opened under companies incorporated abroad). For businesses based in Hong Kong, the B2B account is multifunctional, supporting both collections and outgoing payments. With this, it addresses the routine local operational component and cross-border settlement.

Merchants can create orders with due dates and reminders with the “Payment Request” feature on the platform, allowing buyers to pay via link. The platform also supports bank transfers, giving businesses the flexibility to adapt settlements to different supply chains and settlement arrangements, with either a same-name beneficiary or a third-party beneficiary.

WorldFirst collaborates with over 130 eCommerce and payment services like Amazon and AliExpress. Merchants can create account details locally for each market and currency, transfer internationally and settle through on-platform FX conversion.

Fees and exchange rates

• Fixed account fees: WorldFirst does not charge any account opening fees, account management fees, or collection fees.

• Inter-account transfers: Transferring directly from your WorldFirst account to other accounts on the same platform is usually instant and free of charge. For payment and foreign exchange settlement, the actual fees will depend on the currency and payment channel selected. Handling fee and exchange rate markup may be imposed.

General account opening process of WorldFirst

Account opening steps

1. Based on the business registration location, choose where the authentication entity is located.

2. Creating an account and completing verification will require an active mobile phone number or email address only. After registering, you will need to create a login password.

3. After registration, follow the guide to complete your information and location verification.

4. It might take a day or two for review after submission.

Required documents and information for account opening 

• ​​Certificate of incorporation (CI)

• Basic company and business informatio

• The photo ID of the principal account holder (must be a company director) along with a signed photo thereof.

• Other director information

• Details of all individual shareholders owning 25% or more of the shares

Creating receiving accounts and integrating platforms

When you register, WorldFirst will automatically create a local receiving account in that market or a global multi-currency account depending on the primary sales country/region you have selected. Simply log in to your backend, select the eCommerce platform to be activated, and complete the linking process. In most situations, a working receiving account shows up in less than a minute.

Payment requests and reconciliation

In your backend, you can “Request Payment”, specify currency, amount and due date, and you can also choose one-time or instalments.  Your customers can pay through their WorldFirst balance or bank transfer. All payments are synchronised with transaction details, in order to facilitate report reconciliation for finance and compliance.

Payment experience and durations

Apart from inter-account transfer, withdrawals of funds in Hong Kong being sent overseas, however, will differ from institution to institution and situation to situation. Merchants could enhance their efficiency even further by pre-registering HKD and other currencies frequently used as beneficiaries to set up local payout channels in advance.

Risk management and compliance of WorldFirst

In Hong Kong, WorldFirst holds a Money Service Operator (MSO) licence. As part of Ant International, its compliance and risk control framework is deliberately robust, which helps safeguard both funds and data. Having a license in different markets improves international credibility. Having a license in multiple jurisdictions extends its recognition and trust on the global stage.

Sound documentation practices help mitigate common risks: Companies could clarify sources and uses of funds, keep contracts, invoices and communications, maintain full buyer records (company details, contacts, order history) and preserve shipping and logistics documentation.

Comparing WorldFirst with other solutions

In general, both Airwallex and WorldFirst are suited for platform sellers and B2B merchants. For businesses that require comprehensive capabilities like batch payouts, corporate cards, and API connectivity, Airwallex is more suitable for managing payments from end to end.

Why Airwallex is suitable for all Hong Kong businesses

Broader global coverage and supported currencies

With Airwallex, businesses can open local and foreign currency accounts on a single platform, manage payments in 20+ currencies, and send funds to over 200 countries. 95% of transfers settle on the same day, giving companies tighter control of cash flow and greater efficiency in treasury management. Paired with bulk payout capabilities, payments to global suppliers, employees, or contractors can be made in local currencies, all in one go.

For eCommerce businesses, Airwallex supports 160+ payment methods across 180+ countries. Merchants can price in local currencies and process payments locally, improving checkout conversion, while same-currency collection and settlement reduce FX costs and simplify reconciliation.

Transparent pricing and low-cost FX

Airwallex keeps its fee structure simple and transparent: no account opening fees, no monthly charges, and no minimum balance or transaction requirements. FX conversions start from interbank rates +0.2%, making it easier to budget with confidence. Same-currency collection and settlement help businesses avoid unnecessary or repeated conversions, reducing costs even further. By pricing in local currencies and accepting local payments, companies can cut down on cross-currency processing and related fees, ensuring capital is deployed more efficiently.

All-in-one platform for managing global funds

Businesses can instantly issue multi-currency corporate cards, with departmental limits, approval workflows, and expense management built in – giving full visibility and control over team spending. On the integration side, Airwallex connects with leading accounting and ERP systems such as Xero, QuickBooks, and NetSuite, as well as major eCommerce platforms including Amazon and Shopify. This unifies receivables, FX, payouts, and expenses under a single system.

Frequently asked questions

What documents are needed to open a WorldFirst account for a Hong Kong company?

Typically, businesses will require a Certificate of Incorporation, shareholder/director identity documents and KYC files, and basic business information.

Are WorldFirst transfers within the platform for free?

Yes. Transfers between two accounts on the same platform are free. You are advised to refer to WorldFirst's official website for the latest pricing information.

Does WorldFirst support B2B collection for Hong Kong accounts?

Yes. The WorldFirst B2B account supports payment collection for Hong Kong companies.

Sources:

Information regarding WorldFirst were obtained from the following sources as of September 2025. This information is provided for reference only. For the most up-to-date details, please visit the respective official websites.

1. https://www.worldfirst.com/hk/world-account/

2. https://www.worldfirst.com/uk/help-center/receiving-payments/send-a-payment-request-to-a-payer/

3. https://www.worldfirst.com.cn/content/articles/b2c_portal/hk_auth

Disclaimer: This article was prepared in September 2025 based on voluntary online research and publicly available information. We have not personally tested every tool or provider mentioned. This article is for educational purposes only, and readers should independently evaluate each service provider based on their specific business requirements. Content is updated every six months. To request an update, please contact us at [email protected].