7 best online payment systems in the UK: Compare fees, integrations, and global reach

Key takeaways

• Online payment services help your business take electronic payments safely. The right provider can cut costs, speed up settlement, and support growth in other countries.

• When you compare providers, focus on transaction fees, the payment methods they support, integration options, security standards, and multi-currency support.

• Airwallex brings a payment gateway, a payment processor, and multi-currency accounts together in one platform. It offers competitive FX rates and 160+ local payment methods across 180+ countries.

Online payment services are now essential infrastructure for UK businesses. Two thirds of adults worldwide now use digital payments to send and receive money¹. So, the payment system you choose can directly affect how well you take revenue and grow.

In this guide, we'll compare seven of the top online payment services in the UK. We'll also explain which features to prioritise when you choose a provider. Finally, we'll share practical ways to lower your processing fees.

What is an online payment system?

An online payment system is software that lets you move money over the internet. If you run a business, it helps you accept electronic payments. It does this by linking a customer’s purchase to the safe transfer of funds into your account.

Online payment systems often include these features:

• Secure payments

• Fraud prevention

• PCI compliance

• Business accounts

• Automated payment workflows

• Reporting and analytics

• Integration with other business systems

Modern providers do more than just move money safely. The best platforms can also offer multi-currency accounts, competitive FX rates, and spend management tools. These features can help you grow while also protecting your bottom line.

How online payments work

Online payment systems give people a way to pay over the internet. When a customer buys something, they enter their payment details and approve the transaction. Then the system moves the funds electronically from the customer’s account to yours. Many systems also support recurring payments, saved payment details, and links to eCommerce platforms.

However, many online payment services do more than process transactions. For example, platforms like Airwallex add tools that help you manage money better, cut finance team admin time, and reduce transaction and currency conversion fees.

7 best online payment services in the UK

Airwallex

Airwallex combines a payment gateway and processor with multi-currency accounts, all in one platform. It's built for businesses that work across many markets and currencies. Today, over 150,000 companies worldwide use the platform to take payments and manage their finances.

• Accept payments from 180+ countries with 160+ local payment methods

• Open accounts with local details in 23+ currencies

• FX conversions at interbank rates plus 0.5%–1%

• No-code plugins for Shopify, WooCommerce, Xero, and NetSuite

• PCI DSS Level 1 certified with advanced fraud protection

Pricing: 1.3% + 20p for UK card transactions; currency conversions at interbank rate + 0.5%–1%.

Opayo

Opayo is a gateway and payment service from its parent company, Elavon. It offers pay-as-you-go and monthly fixed-fee plans. That makes it a flexible choice for different business sizes.

• Integrates with major eCommerce platforms

• Drop-in checkout integration available

• PAYG and monthly subscription pricing models

• You may need some technical knowledge for setup

Pricing: UK card transaction fees from 1.99% + 12p for PAYG plan².

PayPal

PayPal is a well-known payment facilitator with wide consumer adoption. It offers payment tools for personal and business use. Still, its fees can be hard to follow because they change by transaction type.

• Extensive integration with nearly all eCommerce platforms

• High consumer recognition and trust

• Buyer and seller protection programmes

• Complicated fee structure that varies by transaction type

Pricing: 2.9% + 30p for standard domestic commercial transactions within the UK (rates vary by transaction type); currency conversion at 3% above the base exchange rate³.

Revolut Business

Revolut offers a digital financial service that includes a payment gateway. It may suit micro-SMEs and startups that want a simple, digital-first option.

• Multiple plan tiers including a free Basic option

• Good integrations for tech-savvy startups

• Multi-currency accounts available

• Currency conversion rates vary between plans

Pricing: Free Basic plan offers 1% + 20p transaction fee for UK Visa and Mastercard consumer cards⁶.

Shopify

Shopify is a powerful eCommerce platform that helps businesses build and run an online shop. It also includes built-in payment processing, plus stock management and marketing tools.

• All-in-one eCommerce and payments solution

• Multiple integrations to optimise online stores

• Subscription fees start at US$29/month (annual billing) for the Basic plan

• Transaction fees are plan-dependent

Pricing: 2.9% + 30¢ USD per online standard card transaction for Basic plan (with Shopify Payments); +1% international card surcharge with Shopify Payments; 2% third-party transaction fee if using an external payment gateway⁴.

Stripe

Stripe offers a wide set of online payment processing and financial services for businesses. It's known for being developer-friendly, with flexible API integration options.

• Good for simplicity and flexibility

• Integrates easily with all popular business tools

• Strong API documentation for custom builds

• Transparent pricing structure

Pricing: 1.5% + 20p for standard UK card transactions, plus 2% currency conversion fee⁵.

Worldpay

Worldpay is one of the long-standing global providers in payment processing technology and services. It offers many merchant services for online and in-person payments.

• Versatile integrations for online and offline transactions

• Established global presence

• Wide range of merchant services

• Limited public pricing information; lengthy lock-in contracts

What to look for in an online payment service

Choosing the right online payment system can be a business-critical decision. The best providers are safe and fast. They also make it easier to grow. Here’s what to look for.

Choosing the right online payment service

• Type of solution: Check whether your provider is a payment facilitator, an Independent Sales Organisation (ISO), or a merchant acquirer. Each one plays a different role in the payments ecosystem, and the level of support can vary.

• Security: Choose software that protects customer funds and data. It should use advanced encryption, fraud prevention tools, and PCI DSS compliance.

• Integration capabilities: Your payment software should connect easily (with no code) to other tools, such as accounting software, your CRM, and your eCommerce platform. The gold standard is a direct feed into platforms like Xero, MYOB, or QuickBooks.

• Automation: When you integrate with your core accounting or ERP system, you can cut manual data entry. You can also get instant reconciliation and one reliable source of financial truth.

• Cost transparency: Look for full multi-currency support and access to real-time interbank FX rates. The platform should promise no hidden fees and make sure the full amount reaches the beneficiary. Airwallex offers interbank FX rates, which may save up to 80% on conversion fees compared to traditional providers.

Multi-currency support and global reach

• Payment methods: Give customers a range of payment methods. This can help you win more customers, especially if you sell internationally.

• Scalability: Pick a solution that can grow with you. It should handle higher transaction volumes and more overseas markets without major disruption.

• Control and governance: Look for detailed user permissions, custom approval flows, and full audit trails. These help ensure each transaction follows your internal rules while also meeting regulatory needs.

• Actionable insights: Real-time reports, spend analytics, and easy exports of transaction history help you move past reactive bookkeeping. They also help you make data-led financial decisions.

• Breadth of service: Many traditional providers focus only on payments. Newer providers often include more financial tools. This can reduce tool sprawl and, more importantly, bring your company’s funds into one place.

How to reduce online payment processing fees

Online payment processing fees can add up fast if you’re not careful. Costs can include transaction fees, foreign transaction fees, chargebacks, and monthly subscriptions. So, when you choose a provider, you’ll want to look at the full cost picture.

5 ways to cut your processing costs

• Get clear on what you need: Look at the volume and type of transactions your business mainly processes. Providers use different pricing models, such as fixed-rate and subscription plans. If you process fewer payments, a fixed-rate provider may cost less. If you process higher volumes, interchange-plus pricing may save you money. If you aren’t ready for an end-to-end solution, you can also integrate with payment gateways that charge lower fees for some transaction types.

• Use ACH/SEPA/BACS direct debit where possible: If you take repeat payments, consider ACH, SEPA, or BACS direct debit. These usually cost less than credit card transactions. They can work well for subscriptions and any business with recurring billing.

• Find a global solution: If you sell worldwide, you can reduce hidden cross-border fees. Choose a provider with low or no foreign transaction fees and strong currency conversion rates. Airwallex, for example, offers FX at interbank rates. It also lets you hold funds in multiple currencies without forced conversions.

• Be wary of chargebacks: Customers can start chargebacks when they believe they deserve a refund. This is often subjective. It can lead to lost revenue and extra fees. Clear customer messaging, transparent refund rules, and strong fraud detection can help reduce these charges.

• Review your payment provider regularly: Prices can change as the economy changes, and new suppliers enter the market each year. So, review your options often to make sure you’re still getting the best deal.

Why choose Airwallex as your online payment service provider

Over 150,000 companies worldwide use Airwallex to accept customer payments safely, simplify financial operations, and find new opportunities. Our platform is built for ambitious businesses that want to succeed in the global digital economy.

Airwallex is a great choice if you're looking to get:

• Global reach: Accept payments from 180+ countries and open accounts with local details in 23+ currencies.

• Competitive fees: Maximise revenue with like-for-like currency settlement, market-leading FX rates, and competitive transaction fees.

• Integration: Use plugins with Shopify, WooCommerce, Xero, and NetSuite. No coding is required, so you can cut finance team admin hours.

• Flexible payment options: Give customers 160+ payment methods, including local options that match their preferences.

• Gold standard security: Protect funds with best-in-class payment acceptance and fraud protection that's PCI DSS compliant.

• Efficient funds management: Get real-time visibility into cash flow, expenses, and multi-entity accounts.

With Airwallex, you can manage your global payments and finances in one central platform. This includes customer and supplier payments, expense management, multi-currency Corporate Cards, FX transfers, and data insights. Whether you want a business account or powerful APIs to fit your exact needs, our technology can help you get there.

Frequently asked questions (FAQs)

What are online payment services?

Online payment services are digital platforms that let businesses and people send, receive, and process payments over the internet. They support methods like credit cards, digital wallets, and bank transfers. They handle the secure transfer of funds between buyers and sellers.

What is online payment software?

Online payment software is financial technology that processes secure electronic payments between a customer and a merchant. It supports many payment methods. It also often includes fraud prevention, reporting, and integration with business tools.

What are the most important factors when choosing an online payment service?

The key factors include transaction fees, supported payment methods, security, integration with your current tools, multi-currency support, and scalability. You should also look at customer service quality and whether the provider can grow with your business.

How safe are online payment processing services?

Trusted online payment services use end-to-end encryption and follow security standards like PCI DSS. This helps protect against unauthorised access and fraud. Before you sign up, always check that your provider meets these industry standards.

Sources and references

1. https://meetanshi.com/blog/digital-payments-statistics/

2. https://www.elavon.co.uk/accept-payments/pricing.html

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

4. https://www.shopify.com/uk/pricing

5. https://wise.com/us/blog/stripe-international

6. https://www.revolut.com/business/business-account-plans

Disclaimer: We updated this article in Q1 2026. The information is based on our own online research, and we weren't able to manually test each tool or provider. The information is for educational purposes only, and you should consider your business’s specific needs when you compare providers. If you'd like to request an update, feel free to contact us at [email protected].