Top 7 digital payment solutions in the UK: Compare features, pricing, and global reach

Key takeaways

• Digital payment solutions let businesses take electronic payments through online gateways, mobile apps, and digital wallets. They replace the need for cash or cheques.

• The right provider should offer strong security, clear pricing, local payment methods, and integrations with your current tools. That way, you can take payments worldwide without paying too much in fees.

• Airwallex processes US$150 billion each year for 150,000+ businesses. It combines payment acceptance in 180+ countries with multi-currency accounts, competitive FX rates, and spend management in one platform.

Having the right digital payment solution in your tech stack is vital if you want to meet the high standards customers now expect when they shop online.

The best digital payment solutions save you time and money. They also help drive conversions and repeat buys, especially if you sell across borders. Today, customers around the world expect to see their local payment method at checkout. In fact, 77% are likely to abandon cart if they don’t. With so many digital payment solutions out there, it can be hard to pick the right one. So, in this article, we’ll explain what digital payment solutions are, how they work, and compare seven popular providers to help you choose.

What is a digital payment system?

A digital payment solution is a system that lets businesses take electronic payments. It does this without needing physical cash or cheques. You can think of it as the online version of a card machine. But it works across every channel your customers use, like your website, a mobile app, or an in-store terminal. The main benefit is simple: you can take payments from customers anywhere in the world, at any time, without the hassle of handling cash.

These solutions include online payment gateways, mobile apps, and digital wallets. For business owners, a great digital payment solution offers flexible ways to integrate and lets you accept many currencies and payment methods.

Some payment solutions do more than take payments. They can also include multi-currency accounts, global transfers, Corporate Cards, Expense Management, and software integrations. This kind of end-to-end platform means you don’t need lots of different providers. As a result, it can simplify your finance work and give your team more time to focus on what matters most: growing your business.

How do digital payment systems work?

Digital payment systems give you a simple and secure way to take payments online. They often use a mobile app or an online platform. This lets businesses link their accounts or accept card payments straight away.

Here’s how the payment flow works:

• Customer initiates payment: The customer picks items and goes to checkout. Then they enter their payment details.

• Gateway encrypts and transmits: The merchant’s payment gateway encrypts the payment details and sends them to the payment processor.

• Processor verifies: The processor checks the details. It also contacts the customer’s issuing bank to confirm there are enough funds.

• Bank authorises: The issuing bank approves or declines the payment. It then sends the result back through the processor.

• Funds settle: Once approved, the funds move from the customer’s account to the merchant’s account. This is usually done within one to two business days.

The best providers improve each step in this process. For example, routing can increase authorisation rates by sending each payment through the path that’s most likely to work. Also, local acquiring can cut down on declines by processing payments through banks in the customer’s region.

Types of digital payments and why they matter

Customers in Germany might prefer bank transfers. Meanwhile, shoppers in China may choose digital wallets. So, if you offer a mix of payment options, and show prices in local currencies, you can improve your brand image and raise conversion rates. It can also help you win new customers in new markets. At the very least, your system should accept all major card schemes. Still, it’s best to offer a wider range of digital payment methods.

Here are the main types of digital payments:

• Credit and debit cards: These are the most used payment methods worldwide. They include Visa, Mastercard, and American Express. They’re essential for any business that sells online.

• Digital wallets and mobile payments: These include Apple Pay and Google Pay, plus regional options like Alipay and WeChat Pay. They’re very popular in Asia and are now common across Europe and North America too.

• Bank transfers and direct debit: These are popular in Europe through SEPA. They’re also ideal for recurring payments or B2B payments where customers want to pay straight from their bank account.

• Buy now, pay later (BNPL): Services like Klarna and Afterpay let customers split a payment into instalments. This can lift average order values.

• Invoice payments: These are common for B2B transactions, where businesses often prefer to pay on terms, not at the point of sale.

• Cryptocurrencies: These are growing in use for tech-forward businesses. However, they’re still niche compared with more common payment methods.

7 top digital payment solutions compared

Airwallex

Airwallex lets you collect online payments in 180+ countries using 160+ local payment methods. It can help raise your global acceptance rates and cut unnecessary foreign exchange (FX) fees. Over 150,000 businesses use Airwallex to process more than US$150 billion in transactions each year.

• End-to-end financial platform that brings together payments, multi-currency accounts, FX & Transfers, Corporate Cards, and Expense Management

• Like-for-like settlement in 20+ currencies, which helps reduce unnecessary FX fees

• Competitive interbank rates when you do need to convert funds

• No-code plugins for Shopify, WooCommerce, Magento, and BigCommerce

• 60+ global licences with PCI DSS Level 1, SOC 1, and SOC 2 compliance

Stripe

Stripe is a well-known payment gateway provider. It focuses on mobile eCommerce, SaaS, non-profits, and platform-based payments.

• Used by millions of companies to accept payments online and in person

• Supports 125+ payment methods in 135+ currencies

• Strong developer tools and API documentation

• Embedded financial services and custom revenue models are available

• Like-for-like settlement needs manual setup

Worldpay

Worldpay is a payment processing provider. It helps businesses of all sizes make, take, and manage payments.

• Operates in 146 countries with 60+ payment methods

• Supports online, in-store, and mobile commerce journeys

• Payment platform embedding and enterprise partnerships

• Quote-based pricing that’s tailored to business needs

• Strong presence in traditional retail and enterprise segments

PayPal

PayPal is a global online payment processing provider with integrated payment solutions. It processed 25 billion transactions worldwide in 2023.

• Available in 200 countries with 20+ local payment methods

• Strong brand recognition and customer trust

• Checkout experiences for customers around the world

• Multi-currency accounts are available with extra setup

• FX and transfers are included in the platform

Adyen

Adyen is a Dutch digital payment provider. It offers end-to-end payments, data, and financial management in one solution.

• Accept, process, and settle payments worldwide

• Interchange++

  pricing model with scheme fees

• Strong data and analytics tools

• Popular with large enterprise and marketplace businesses

• No monthly fees on standard plans

GoCardless

100,000+ businesses worldwide use GoCardless to collect money through direct debits (domestic and international). This helps cut the stress of chasing individual payments.

• Specialises in recurring payments and direct debit collection

• Links to 2,300+ banks across the UK and Europe

• Secure access to customer bank account data for risk management

• Price cap of £/€4 per transaction on standard plans

• Strong choice for subscription-based business models

Revolut

With hundreds of thousands of active business customers, Revolut Business is used worldwide to accept payments online and in store.

• Payment Links, payment APIs and plugins, Point of Sale app, and Revolut Reader device

• Multi-currency accounts and FX tools included

• Strong mobile-first experience

• Popular with SMEs and start-ups

• No monthly fee on basic plans

Source: Airwallex, Stripe, Worldpay, PayPal, Adyen, GoCardless, Revolut as of Q1 2026

See Airwallex’s pricing plan and fee schedule for more detail. Note: Some providers may charge extra payment processing fees, such as foreign currency settlement fees. These aren’t included in this table.

How to choose the right digital payment solution

Changing payment providers takes time and costs money. So, it’s worth choosing well the first time. The right provider can support long-term growth with strong global payment rails, local payment methods, like-for-like currency settlement, and low foreign transaction fees. Here are the key things to check:

• Security and compliance: At a minimum, your provider should be PCI DSS compliant and have fraud controls in place. For top-level security, look for advanced encryption, SOC 1, SOC 2, and PSD2 compliance. Also, ask about their KYC/AML checks and fraud detection tools.

• Pricing structure: Ask about every fee that could apply. This includes transaction fees, monthly fees, setup fees, and foreign transaction fees. This helps you avoid surprise costs, especially on international payments. Some providers use simple subscription plans. Others charge per transaction.

• Global payment support: It’s important to understand the cost of accepting international payments. But you should also check whether the provider lets you collect and hold multiple currencies. Or will you have to convert every payment? If you must convert all funds, costs can rise fast.

• Payment methods available: Does the service support a wide mix of payment methods? This should include local and alternative methods, plus Visa, Mastercard, and American Express. The more options you offer, the fewer customers you’re likely to lose at checkout.

• Integration capabilities: Check the provider can connect with your current accounting, CRM, and eCommerce tools. This can help you run smoother operations. It’ll also make reconciliation, checkout, and forecasting quicker and easier.

• Customer support: Look at their support options. For example, check response times and whether they offer email, phone, and chat support.

• Scalability: Make sure your provider can support you as you grow. This includes higher payment volumes and the ability to sell in new overseas markets without major disruption. Look for a solution with a full spectrum of services, such as built-in FX, transfers, multi-currency accounts, and spend management tools.

• Refunds and chargebacks: Ask how the system manages refunds and chargebacks. This can help protect your funds later on.

Why choose Airwallex as your digital payment provider?

There are lots of competitors in the market. Still, Airwallex stands out as one of the most modern and global providers available. Unlike many other providers, our payment processing works alongside multi-currency accounts and competitive FX and transfer tools. This can help you cut costs. On top of that, our spend management tools, from Expense Management to Corporate Cards and Bill Pay, can save you time when you reconcile.

With Airwallex, you can:

Expand internationally and increase your conversion rates

Grow sales by showing prices in local currencies. You can also let customers pay using one of 160+ local payment methods across 180+ countries and 130+ currencies.

Save on FX costs with multi-currency accounts

Multi-currency accounts let you settle funds in 20+ currencies, so no conversion is needed. When you do need to convert, you can do it at competitive interbank rates. This can save you up to 80% on FX fees compared with traditional providers.

Integrate payments easily and securely

From no-code plugins for Shopify, WooCommerce, Magento, and BigCommerce to fully customisable API options, Airwallex lets you collect payments in the way that suits you. We’re PCI DSS Level 1 certified, with SOC 1 and SOC 2 compliance. Plus, our AI-powered engine runs in the background to help protect your business from fraudulent transactions.

Frequently asked questions (FAQs)

What is a digital payment system?

A digital payment system is software, or a digital tool, that lets businesses take electronic payments and manage money without handling physical cash or cheques. These systems include online payment gateways, mobile apps, and digital wallets. They process payments securely between customers and merchants.

What types of digital payments are there?

Digital payments include credit and debit cards, bank transfers, digital wallets like Apple Pay and Google Pay, buy now, pay later services, invoice payments, and cryptocurrencies. The most effective payment solutions support many methods, so customers can pay how they prefer.

How much does it cost to onboard a digital payment solution?

Costs vary a lot by provider. Some offer free sign-up and charge per transaction. Others charge a monthly subscription. Some providers, like Airwallex, offer clear pricing with no monthly fees if you meet minimum balance or deposit thresholds. Also, don’t forget to allow for hidden fees on international payments and currency conversion.

How safe are digital payment solutions?

Trusted digital payment solutions use several layers of protection. These include fraud controls, end-to-end encryption, and PCI DSS compliance (the global security standard for organisations that store and process sensitive data). For extra peace of mind, look for providers with added certifications like SOC 1 and SOC 2.

Sources and references

1. https://stripe.com/customers

2. https://www.paypal.com/ca/enterprise/payment-processing#:~:text=As%20of%202023%2C%20PayPal%20processed,increase%20in%20y%2Fy%20growth.&text=Scale%20into%20new%20markets%20and%20accept%20payments%20in%20135%20currencies.&text=PayPal%20Braintree%20has%20shown%20a,market%20average%20for%20LEs%20globally.

3. https://gocardless.com/blog/gocardless-50000-businesses/

4. https://gocardless.com/en-us/

5. https://www.revolut.com/news/revolut_doubles_down_on_business_accounts_and_launches_revolut_billpay_as_global_annualised_revenues_surpass_500m/

6. https://stripe.com/payments

7. https://paymentforstripe.com/guides/currencies

8. https://corporate.worldpay.com/

9. https://investor.aciworldwide.com/news-releases/news-release-details/aci-worldwide-and-worldpay-drive-global-acceptance-alternative

10. https://www.worldpay.com/en/enterprise

11. https://www.paypal.com/uk/enterprise/payment-methods

12. https://www.paypal.com/uk/webapps/mpp/merchant-fees

13. https://www.adyen.com/global-payment-processing

14. https://www.adyen.com/en_GB/pricing

15. https://gocardless.com/pricing/

16. https://www.datawallet.com/crypto/revolut-countries#:~:text=Summary%3A%20Revolut%20provides%20financial%20and,US%2C%20Australia%2C%20and%20Japan

17. https://help.revolut.com/help/more/revolut-pro/accepting-payments-with-revolut-pro/what-kind-of-payments-can-i-accept-in-revolut-pro/

18. https://www.revolut.com/en-US/business/business-account-plans/

19. https://www.airwallex.com/uk/pricing

20. https://www.merchantsavvy.co.uk/payment-processors/stripe-payments/

21. https://www.nerdwallet.com/reviews/small-business/worldpay#:~:text=Worldpay%20processes%20in%2Dperson%20and,offers%2024%2F7%20phone%20support.

22. https://www.paypal.com/uk/business/paypal-business-fees

23. https://www.adyen.com/en_GB/pricing

24. https://gocardless.com/blog/how-much-do-international-payments-really-cost/#:~:text=For%20international%20payments%2C%20GoCardless%20will,customer%2C%20our%20fee%20is%20%24100.25

25. https://www.revolut.com/business/accept-payments-pricing/