Revolut Alternatives for Payment Processing

Note that the information about the payment providers found in this article was taken from their respective websites on 16 December 2024. This information is subject to change.

Looking to switch from Revolut or explore alternatives for processing payments? You’re in the right place. Many businesses find that while Revolut offers solid features, it doesn’t always tick every box.

Whether you need more e-commerce flexibility, better pricing, or advanced payment tools, there are options tailored to your needs. In this article, we take a look at the best Revolut alternatives for accepting payments, including their features and pricing models.

What Does Revolut Offer for Payment Processing?

To properly compare Revolut to its alternatives, let’s first explore what Revolut offers for businesses.

Merchant Services

Revolut was initially launched as a mobile-first challenger bank, catering to international clients and businesses seeking competitive exchange rates. Its flagship offering is a multi-currency account with cost-effective exchange rates.

Revolut Business includes a payment gateway that supports payments in over 25 currencies. However, payment gateway is not its primary focus but rather an added component of the overall product offering.

The platform supports a range of payment methods: cards, digital wallets, including their own Revolut Pay, UK Fast Payments and instant bank payments. Revolut offers no-code payments via payment links, QR codes and invoices.

Businesses can create custom invoices with built-in payment options and send bulk payments of up to 1,000. For e-commerce businesses, Revolut provides no-code plugins and a Merchant API to integrate payments into online marketplaces. Revolut also offers corporate debit cards for team spend with spend control.

Pricing

In terms of payment processing pricing, Revolut charges the following fees:

Revolut pricing as of 16 December 2024.

Best Revolut Alternatives for Business

Let’s now take a look at some of the best Revolut alternatives for payment processing and international transfers: Noda, Wise and Payoneer.

Noda

Noda is a great alternative to Revolut for merchants seeking a provider dedicated to e-commerce payment gateways and checkout solutions as well as open banking. With Noda, merchants can accept card and pay-by-bank payments and send payouts, integrated via Open Banking API.

Open banking is a payment technology, which avoids card networks and offers a seamless user experience, lower fees, bank-level security and no chargebacks. We partner with over 16,500 banks across 27 countries beyond the UK and Europe and support multiple currencies for merchants looking for truly global exposure.

Noda offers easy-to-integrate plugins for top ecommerce platforms like OpenCart, WooCommerce, Magento, and PrestaShop. We provide streamlined checkout form with AI-driven routing. For businesses with limited development resources, our no-code payments – links and QR codes – provide easy setup.

Our advanced data tools include secure bank login and Know Your Whales insights, helping you predict customer behavior and make data-driven decisions.

Pricing

Noda doesn’t have fixed pricing plans – we offer transaction-based pricing, as Noda is designed to simplify payments according to your unique business needs.

Yet we can guarantee that with open banking payments, you can eliminate credit and debit card processing fees entirely. Often called pay-by-bank, this method transfers money directly between accounts, bypassing costly card networks, including interchange and scheme fees. It’s a more cost-efficient solution for merchants.

Wise

Wise is a great alternative to Revolut bank. Wise Business, based in the UK, focuses on international banking solutions, and like Revolut, it provides multi-currency accounts. Merchants can send one-off invoices, recurring payments, or mass payouts. They can also receive money in 16 currencies, using mid-market exchange rate.

Note that Wise is not a traditional e-commerce gateway – it does not provide a checkout page. Payments are handled through bank transfers, QR codes, or payment links. Businesses can receive payments via Wise’s unique account details, create invoices, track transactions, and convert funds. Its main appeal for merchants is that Wise offers the mid-market exchange rate, avoiding extra markups and making cross-border money transfers more cost-efficient.

Similar to Revolut, Wise allows batch payouts of up to 1,000 transactions. It also provides business debit cards for employees with pre-set limits. Wise supports automation with APIs, a Sandbox environment, detailed documentation, and an app marketplace for connecting accounts to other software.

Pricing

As of 16 December, Wise charges £45 for registering with Wise, and from 0.33% for sending money, with fees varying by currency. Receiving money is free for 20 currencies. To see the full break-down of Wise pricing, please visit the provider’s website.

Payoneer

Payoneer provides a variety of services like Revolut, aimed at businesses, freelancers, and marketplaces. Payoneer allows merchants to accept payments in 11 major currencies. Note that Payoneer offers limited options for accepting payments in the UK and Europe, as it’s more tailored to the US markets.

The Payoneer Checkout system gives merchants an e-commerce payment gateway to accept transactions on their website. It supports a wide range of payment methods, including credit cards, local bank transfers, ACH bank debits, and direct bank payments. For businesses needing to collect payments, Payoneer offers an invoicing tool.

Like Revolut and Wise, Payoneer allows businesses to make up to 1000 payments at once using their batch payment feature. They also offer payouts including mass payouts.

When it comes to integration, Payoneer offers several options: shopping cart plugins for e-commerce platforms, an embedded payment page that integrates directly into the merchant’s UI, and a hosted payment page that redirects customers.

Pricing

Payoneer offers free payments provided they come from or to another Payoneer customer in the provider’s ecosystem.

When getting paid externally, the provider charges for up to 3.99% for credit cards in all currencies, and in certain countries, an additional fixed fee of $0.49. For ACH bank debits in the US, it’s 1% fee and for PayPal in the US it’s 3.99% + $0.49.

Payoneer pricing as of 16 December 2024.

Note that Payoneer offers limited options for accepting payments in the UK and Europe, as it’s more tailored to the US markets. Therefore, merchants from the UK and Europe may encounter higher fees.

Which Revolut Alternative Is Best for Your Business?

The best Revolut alternative depends on your business needs, payment methods, and target market. Here’s how each provider stands out:

• Noda: Perfect for E-Commerce & Open Banking

Noda is ideal for online businesses that need a payment gateway with advanced features and pay-by-bank options with lower fees, and no chargebacks. Noda is serving mostly European and UK merchants.

It’s easy to integrate with plugins for platforms like WooCommerce and Magento, making it great for small to medium-sized e-commerce companies. If you want cost-efficient payments and powerful customer insights, Noda is the way to go.

• Wise: Best for Cross-Border Payments

Wise works well for businesses that need a multi-currency account and international bank transfers. Its mid-market exchange rate makes it great for freelancers, consultants, or exporters. However, it’s not designed for e-commerce businesses needing a traditional checkout page.

• Payoneer: Fit for Freelancers & US-Based Businesses

Payoneer is perfect for freelancers, marketplaces, and businesses operating in the US. It’s great for managing invoices and batch payments to contractors or vendors. However, its higher fees for international credit card payments may be a drawback for businesses outside the US.