Wise Vs WorldFirst: Fees and features comparison guide for New Zealand businesses

Key takeaways

• Wise may suit you if you want transparent, per-transfer pricing and accounting integrations. WorldFirst is built around multi-currency collections – particularly for eCommerce sellers and businesses trading with China.

• Wise charges a transparent percentage-based fee per transfer; WorldFirst applies both an explicit transfer fee and a margin to the exchange rate. Neither model is inherently cheaper – it depends on your transaction type, currency pair, and volume.

• If you want powerful checkout solutions, foreign exchange (FX), corporate cards, to earn returns, and spend management in one place, Airwallex goes further than either. Wise and WorldFirst cover specific parts of the cross-border payment journey, but don’t bring your entire financial operation together the way a broader platform can.

If you’re running a business that sends or receives money internationally, you’ve probably come across both Wise Business and WorldFirst. They’re two widely used cross-border payment platforms for businesses in New Zealand – but they work quite differently, and choosing the wrong one can cost you in fees, missing features, or both.

Here’s how Wise and WorldFirst compare on fees, features, currencies, cards, and integrations – and where Airwallex fits if you need a platform that brings all of it together.

How does Wise Business work?

Wise Business is a multi-currency account and international payment platform. It started as a consumer money transfer service and expanded to serve small and medium-sized businesses that need to send, receive, and hold money in multiple currencies.

Here’s what Wise Business covers:

• Multi-currency accounts: Hold and convert 40+ currencies in one account.

• International transfers: Send money internationally using the mid-market rate plus a transparent percentage-based fee, typically from around 0.25% depending on the currency pair and route.

• Local account details: Receive payments in 24 currencies as if you had a local bank account in that country, so overseas customers can pay you without international wire fees.

• Cards: Issue virtual and physical debit cards for team spending.

• Accounting integrations: Connect with Xero, QuickBooks, FreeAgent, and other tools.

How does WorldFirst work?

WorldFirst is a business-only cross-border payment platform. It’s part of Ant International, the global arm of Ant Group – the fintech company behind Alipay. WorldFirst doesn’t offer personal accounts; it’s built entirely for businesses, with a particular focus on eCommerce sellers, importers, and companies with supply chains in Asia.

Like Wise, WorldFirst is a regulated fintech platform – not a bank. What sets it apart is its depth of marketplace integrations and its connections to China’s trade ecosystem, including 1688.com. That’s China’s largest business-to-business (B2B) wholesale marketplace – and if you’re sourcing products directly from Chinese manufacturers, WorldFirst is the only cross-border payment platform integrated with it.

Here’s what WorldFirst covers:

• Multi-currency accounts: Hold 20+ currencies including CNH – the offshore version of China’s renminbi used for international trade – alongside major global currencies.

• Marketplace collections: Connect directly to 130+ global marketplaces and payment gateways to collect sales revenue in multiple currencies.

• International transfers: Pay suppliers and partners worldwide, with WorldFirst charging an explicit transfer fee plus a margin built into the exchange rate.

• Virtual cards: Issue virtual cards for business spending across currencies.

• FX forward contracts: Lock in an exchange rate today for a transaction that’ll happen in the future – useful if you want to protect against currency movements before a large payment.

Wise vs WorldFirst at a glance

Before diving into the detail, here’s a side-by-side snapshot of how Wise Business, and WorldFirst compare across the features that matter most.

Fees and exchange rates

Wise charges a transparent, percentage-based fee on each transfer starting from 0.25% depending on the currencies involved. The exchange rate it uses is the mid-market rate, so you can see exactly what you’re paying before you send – there’s no hidden markup on the conversion itself.

WorldFirst also offers the interbank rates and charges a fee for currency conversion. This fee is up to 0.6% for major currencies, and starts at 0.67% for other currencies – plus a payment fee from 0.4% (capped at A$15) for cross-border transfers.. There are no fees for payments to other World accounts and local payments in NZD and AUD are free. Mass payments and receiving funds from marketplaces are also free.

Here’s how the fee structures compare across platforms:

Features compared

Fees are only part of the picture. How each platform handles day-to-day operations – holding currencies, issuing cards, connecting to your other tools – can matter just as much.

Multi-currency accounts and international transfers

If you’re collecting payments from customers or marketplaces in different countries, you need somewhere to hold those funds before converting or spending them. Both Wise and WorldFirst offer multi-currency accounts, but they differ in which currencies they support and how they handle local account details.

• Wise Business: Holds a wide range of currencies and offers local account details in 24 major currencies including USD, GBP, and EUR. It’s well suited to businesses receiving payments in these currencies from customers or platforms in the US, UK, and Europe.

• WorldFirst: Holds currencies including CNH alongside major global currencies. Its local account details cover 20+ currencies relevant to Asia-Pacific trade, making it a solid option if you’re sourcing from or selling into that region.

Cards and spend controls

Both platforms offer business cards, but there’s a meaningful difference in what those cards can do.

WorldFirst’s World Card is currently virtual only. That means it works for online purchases and subscriptions, but you can’t use it at an ATM or for chip-and-PIN payments in a shop. Wise Business offers both virtual and physical cards, so team members can use them anywhere.

• Wise Business card: Physical and virtual options; usable at ATMs; per-card spending limits for team members; no cashback.

• WorldFirst World Card: Virtual only; no foreign exchange fee when spending from a held currency balance; 1% cashback on eligible spend.

Marketplace and accounting integrations

WorldFirst’s standout feature for eCommerce businesses is its marketplace integrations. It connects directly with 130+ global marketplaces including Amazon, eBay, Etsy, and Temu, so you can pull sales revenue from those platforms straight into your WorldFirst account in the local currency. It’s also the only provider integrated with 1688.com, which matters if you’re sourcing products directly from Chinese manufacturers.

Wise takes a different approach. Its marketplace integrations are more limited, but it connects with a wider range of accounting tools, including Xero, QuickBooks, and FreeAgent, making it easier to keep your books in order without manual data entry.

• Wise: Strong accounting integrations; limited marketplace connections.

• WorldFirst: 130+ marketplace integrations; accounting integrations limited to Xero and NetSuite; unique access to 1688.com for China-based supplier payments.

Customer support and security

Wise offers 24/7 customer support. WorldFirst’s support is available on weekdays only, which is worth knowing if you’re dealing with a time-sensitive payment outside business hours.

On the security side, both platforms are regulated fintech companies – not banks – and both are required to keep your funds protected. Airwallex holds 80+ licences globally and is Payment Card Industry Data Security Standard (PCI DSS) Level 1 certified, as well as SOC 1 and SOC 2 compliant.

Why businesses are choosing Airwallex over Wise and WorldFirst

Wise and WorldFirst can help with specific parts of the cross-border payment journey. But more businesses are choosing Airwallex because it combines global accounts, FX, cards, payments and billing into a single intelligent financial platform, purpose-built for companies operating across borders.

Here’s why Airwallex is becoming the default choice for global businesses:

• Deeper local account coverage and more markets Open local currency Global Accounts in 20+ currencies across 21 countries, and collect funds like a local in 70 countries, so you can invoice and get paid without forced FX or opening extra bank accounts in each market.

• Broader FX reach and faster, cheaper transfers Access 90+ trade currencies at interbank rates, with forwards in 20+ currencies, and send payouts via local rails in 120+ countries and to 200+ countries overall – with the vast majority of payments arriving same day and many instantly.

• End-to-end spend management on top of cards Issue multi-currency company and employee cards in 60+ markets, then control and reconcile spend with built-in Expense Management, Bill Pay, and Purchase Orders instead of layering separate card and expense tools.

• Global payment acceptance built in Accept payments online via Checkout, Payment Links, and payment plugins for platforms like Shopify and WooCommerce, with 160+ local payment methods, support for 130+ settlement currencies across 180+ countries, and like-for-like settlement in 20+ currencies — all connected to the same multi-currency account.

• APIs and embedded finance when you scale beyond off-the-shelf tools Use Platform APIs for accounts, payments, FX, payouts and issuing to build your own financial workflows or offer banking-as-a-service and embedded finance inside your own product — capabilities that go well beyond Wise or WorldFirst’s core models.

• Enterprise-grade trust, security and local compliance Operate on infrastructure that moves money annually for 200,000+ businesses worldwide, backed by 80+ global licences and permits, 50+ banking relationships, PCI DSS Level 1 and SOC 1/2 compliance, and registration on New Zealand’s Financial Service Provider Register.

Frequently asked questions

Is Wise Business available in every country where WorldFirst operates?

Availability differs by market – Wise Business isn’t available in Malaysia, for example, where Wise operates only as a personal account service. If you’re in a market where Wise Business isn’t available, WorldFirst or alternatives like Airwallex are worth looking at.

Does WorldFirst charge a fee to open a business account?

WorldFirst is free to join with no set-up fees. Wise is also free to join, though it charges a one-time fee to unlock features including local account details in multiple currencies.

Does WorldFirst offer a physical debit card for business spending?

WorldFirst’s World Card is currently virtual only, meaning it can’t be used at ATMs or for chip-and-PIN in-store payments. Wise Business offers both physical and virtual cards, and Airwallex offers both physical and virtual Corporate Cards.

Which platform supports more currencies for sending international payments?

WorldFirst supports a broader range of currencies for sending payments, including currencies tied to Asia-Pacific markets, while Wise covers a wide range of major currencies. The right choice depends on which currencies your business actually needs to send and receive.

Are Wise and WorldFirst safe to use for business payments?

Both are regulated fintech platforms holding licences in the markets they operate in – neither is a bank, but both have to keep your funds protected with authorised financial institutions. Airwallex holds 80+ licences globally and is PCI DSS Level 1 certified and SOC 1 and SOC 2 compliant.

Sources 

• https://wise.com/nz/pricing/business

• https://www.worldfirst.com/nz/product/pay/world-card/

• https://www.worldfirst.com/nz/pricing/

The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (New Zealand) Limited is registered with the New Zealand Financial Service Provider Register (FSP No. 1001602) to provide a range of financial services in New Zealand.