Article
10 min read
Best Global Payment Tools for Contractors in 2025
Contractor management
Author
Jemima Owen-Jones
Last Update
September 30, 2025
Key takeaways
- The best global payment tools combine quick payments with low fees and compliance support—all in one platform. Traditional options like PayPal and wire transfers create gaps in efficiency and compliance, whereas modern platforms like Deel offer same-day payments, transparent pricing, and automated tax form generation across 150+ countries.
- Compliance isn’t optional when paying international contractors. Tools that only process payments without handling tax documents like 1099s and W-8BENs leave companies risking fines and tax reporting issues. Platforms with built-in compliance automation reduce this risk and make tax season easier for both businesses and contractors.
- Choose a payment tool based on your organization’s size and needs. Startups might initially start with simple transfer tools like Wise, but growing companies need platforms that handle contracts, compliance, and payments in one place. Deel provides an all-in-one solution that scales from your first freelancer to a global contractor network.
Paying contractors across borders isn’t simple. From managing different currencies and banking systems to complex tax rules, there’s much to consider to avoid compliance issues.
As cross-border hiring continues to grow, contractors expect faster, more reliable payment methods. Choosing the right payment method is essential.
Old methods of paying contractors, such as PayPal and wire transfers, leave huge gaps when it comes to paying contractors compliantly and efficiently.
Modern platforms, such as Deel’s, solve these problems by offering faster transfers, better compliance, and more ways for contractors to get paid.
This guide will break down the best global payment tools for contractors in 2025. You’ll see how the leading platforms compare and which option is best for you based on your budget, team size, and contractor needs.
What makes a good global payment tool?
Not all global payment tools are built equally. The best tools make transfers quick, hassle-free, and most importantly, compliant. Here are some key factors to consider.
Speed of transfers
Contractors expect to be paid on time. Delayed transfers can damage trust and slow down projects. As a result, you could also risk losing valuable contractors.
A strong payment tool processes payments within days, not weeks. Some even offer instant payment options, which can be a major advantage in competitive markets.
Transaction and FX fees
Every payment has a cost. Tools with hidden charges or inflated currency exchange rates can cut into a contractor’s earnings or your company’s profits. A good platform will be transparent about fees and use competitive FX rates. This is even more important for teams spread across multiple countries, where small differences in fees add up fast.
Compliance
Paying across borders brings tax responsibilities. Contractors often need forms like 1099s and W-8BENs (in the US), or country-specific equivalents. A reliable and compliant payment tool helps automate this process, tracks what’s required in each region, and stores records securely. Without these safeguards, companies risk fines and reporting issues.
Ease of onboarding
The tool should be quick to set up and intuitive to use. Businesses need simple workflows to onboard contractors without lengthy admin. Contractors should also be able to sign up easily and start receiving payments without complicated steps.
Contractor experience
Freelancers typically work with multiple clients and have limited time to spend on admin. They value smooth, timely payments without any complications.
The best tools offer flexible payout options, like direct bank transfers, e-wallets, or prepaid cards. The ability to make payments across different currencies is also key, as it saves contractors from having to manage costly conversions on their own.
Security and trust
Global payments involve sensitive financial data. Therefore, it’s crucial that any platform you choose has strong encryption, fraud prevention, and compliance with data protection standards.
Case study: How Hugging Face enhanced efficiency for global payments with Deel Contractor.
Hugging Face, the leading AI platform, managed payments through five different systems. Every contractor payment meant extra admin, especially across US and French entities. The process was slow, fragmented, and hard to scale.
Deel changed that. By centralizing payments into one platform, Hugging Face reduced processing time by 50% and onboarded 70 workers with ease. Deel’s flexible agreements also helped them meet strict legal and HR policies without slowing down operations.
“The Deel Platform was a game-changer for us. It’s very easy to use and has streamlined our entire payment process.”
— Anna Tordjmann, Chief of Legal at Hugging Face
With Deel, Hugging Face turned global contractor payments from a monthly headache into a simple and scalable process.
Top global payment tools for contractors in 2025
1. Deel
Deel Contractor is an all-in-one platform for managing international contractors. Businesses can onboard talent, send payments in over 150 countries, and stay compliant with local laws — all in one place. Contractors get paid on time, in their currency of choice, without worrying about hidden transaction fees or complicated steps.
Deel enables businesses to cut their processing time by 60% with in-house, local compliance expertise in 150+ countries, so you’re always audit-ready.
Key features
- Payments in 150+ countries and 200+ currencies
- Automated invoices and tax form generation (including 1099 and W-8BEN)
- Multiple payout options: bank transfer, e-wallets, Deel Card, and more
- Built-in compliance support with contracts and reporting
- Expense tracking and document storage for contractors
- One dashboard for HR, finance, and legal teams
Pros
- All-in-one solution: not just payments, but also contracts, compliance, and payment alternatives
- Transparent pricing with no hidden FX markups
- Strong compliance safeguards for companies operating in multiple regions
- Smooth contractor experience with fast and flexible payouts
Best for: Companies that want a single, compliant platform to pay contractors anywhere in the world.
Case study: How Turing expedited payments for 500+ workers with Deel Contractor.
Turing, a talent platform that helps businesses hire from the top 1% of software developers, struggled with manual compliance and slow, fragmented payments. They relied on emails and spreadsheets to collect documents and used Western Union for payments—leading to delays, high fees, and frustrated developers. Managing 150+ contracts across 60+ countries was time-consuming and difficult to scale.
Deel changed that. By centralizing payments and compliance, Turing could pay developers faster, ensure country-specific compliance, and deliver reliable paydays. Deel’s localized contracts and intuitive platform stood out against competitors.
Impact:
- 400+ developers migrated in days
- Payment processing cut from days to hours
- 5,000+ hires made through Deel
- Seamless compliance across 60+ countries
“When we came to understand the importance that Deel places on individual country laws and making sure that contracts are structured in the right way, Deel really stood out. And even though some of your competitors have payments, it wasn’t with the same ease at which we could do it with Deel.”
— Sudarshan Sivaraman, Head of Customer Success & Sales at Turing
With Deel, Turing transformed global payments and compliance from a manual, unreliable process into a fast, compliant, and scalable system—keeping thousands of developers paid on time and their operations running smoothly.
Deel Contractor
2. Wise
Wise is a popular international payment platform, known for low transfer fees and transparent exchange rates. It allows businesses to pay contractors directly into their local bank accounts in over 150 countries.
Key features
- Real exchange rate (no hidden markups)
- Multi-currency account for holding and sending funds
- Integrations with accounting tools like Xero and QuickBooks
- Contractor-friendly: payments usually land within hours or a few days
Pros
- Low and transparent fees
- Fast transfers compared to banks
- Widely trusted by freelancers
Cons
- Limited compliance support for businesses (no tax form handling)
- Doesn’t scale well for companies with larger contractor networks
- No built-in contract or workforce management features
Best for: Businesses looking for fast, cost-effective transfers without extra HR or compliance support.
3. Payoneer
Payoneer is a long-standing global payment tool for sending, receiving, requesting, and withdrawing funds. It supports payments in over 190 countries and offers contractors flexible withdrawal options, including local bank transfers and a branded prepaid card.
Key features
- Supports over 150 currencies
- Can be integrated with platforms like Upwork and Fiverr
- Offers a prepaid Mastercard for quick access to funds
- Employers can send mass payouts to multiple contractors
Pros
- Wide global reach
- Multiple payout methods for contractors
- Strong reputation in the freelance economy
Cons
- Fees can be higher than other global payment tools, especially with currency conversions
- Payment speed varies depending on the withdrawal method
- Customer support can be slow
Best for: Companies paying large networks of freelancers, especially those hired through marketplaces like Upwork or Fiverr
4. PayPal
PayPal is one of the most recognized payment platforms worldwide. Contractors can receive payments instantly from clients using PayPal, and funds can be transferred to local bank accounts. It’s simple to set up and widely trusted.
Key features
- Instant payments between PayPal accounts
- Supports 25 currencies
- Ability to send invoices directly from the platform
- Buyer and seller protection policies
Pros
- Trusted globally
- Quick transfers between PayPal users
- Easy to use and set up
Cons
- High fees for international transfers and currency conversions
- Limited currencies supported
- Not ideal for managing taxes or bookkeeping
Best for: One-off payments or contractors who need fast, simple payments from individual clients.
5. Remote
Remote is a global payroll and contractor payment platform designed for companies that hire international teams. It helps them pay contractors in local currencies while complying with local regulations.
Key features
- Local bank transfers in 100+ countries
- Handles tax forms like W-8BEN and 1099
- Automated currency conversion
- Contractor dashboard for payment tracking and document access
Pros
- Strong compliance support
- Fast local payouts in many countries
- Simplifies international hiring and payment processes
Cons
- Primarily designed for businesses, less suitable for freelancers managing their own payments
- Platform fees can add up for small payouts
- Limited control over certain payment timings
Best for: Companies managing international contractors who need compliance and payment automation across multiple countries.
6. Revolut Business
Revolut Business is a digital banking platform for companies and freelancers. It allows users to send and receive payments in multiple currencies.
Key features
- Multi-currency accounts with real-time exchange rates
- Instant international transfers to other Revolut users
- Expense management and card issuance
- Integration with accounting software
Pros
- Fast transfers for Revolut-to-Revolut payments
- Competitive FX rates compared with traditional banks
- Good for managing multiple currencies in one account
Cons
- Limited coverage for full payment compliance
- May require workarounds for contractor tax forms
- Some features only available on higher-tier plans
Best for: Freelancers and small businesses who need flexible multi-currency accounts and fast international transfers
7. Stripe
Stripe is a global payment processor widely used for online businesses. It supports payments from contractors and freelancers in multiple countries and currencies.
Key features
- Accepts payments from credit cards, debit cards, and digital wallets
- Supports multi-currency payouts
- Automated invoicing and recurring payments
- Integration with accounting and bookkeeping tools
Pros
- Fast and reliable online payments
- Works in over 40 countries for payouts
- Extensive API for custom workflows
Cons
- Setup can be technical for small teams
- Fees vary depending on currency and payment method
- Not optimized for payroll compliance or tax documents
Best for: Contractors and businesses who rely on online payments and need a scalable platform for multiple clients.
Comparison table of the best global payment tools for contractors
| Platform | Fees | Supported Countries / Currencies | Payout Speed | Compliance Features | Contractor Experience |
|---|---|---|---|---|---|
| Deel | Low fees Transparent pricing Flat fee per payout | 150+ countries / 120+ currencies | Same-day to 2 days | Handles 1099/W-8BEN, tax filing, and local compliance | Flexible payout options Multi-currency wallets Full bookkeeping integration |
| Wise | Low fees Transparent pricing | 90+ countries / 50+ currencies | 1–2 business days | Limited compliance features; mostly FX reporting | Simple to use Multi-currency balances |
| Payoneer | Moderate fees for transfers & currency conversion | 200+ countries / 150+ currencies | 1–3 business days | Basic tax forms for US and EU clients | Bank transfer and prepaid card options Good UX |
| PayPal | Higher fees on currency conversion & cross-border payments | 200+ countries / 25 currencies | Instant to 1 business day | Minimal (relies on user to comply) | Widely used Fast payouts Familiar interface Limited FX flexibility |
| Remote | Service fee per contractor | 50+ countries / 100+ currencies | 1–2 business days | Full payroll compliance, contracts, tax forms | Streamlined experience for contractors Multiple payout methods |
| Revolut Business | Low fees for domestic, moderate for international | 35+ countries / 30+ currencies | 1–2 business days | Limited compliance support | Smooth mobile and web experience Currency exchange built in |
Case study: How TinyBytes pays its workforce faster with Deel Contractor.
TinyBytes, a mobile gaming studio with over 25 million downloads and a global community of core gamers, faced challenges managing payroll for its distributed team. With employees and contractors spread across eight countries, the company relied on manual bank transfers for each payment. This approach was time-consuming, costly due to transfer commissions, and prone to human error, making it difficult to scale operations efficiently.
Deel changed that. By centralizing and automating contractor payments, TinyBytes could pay its global team quickly and compliantly using their preferred payment method—including crypto. Team members no longer needed to issue individual invoices, and finance no longer had to manage a tedious multi-day payment process. The result: more time to focus on building games, not processing payroll.
Impact:
- Reduced payroll processing from 3–4 days to just a few clicks
- Saved ~$45 per contractor in fees and exchange rates
- Enabled flexible withdrawals across platforms, including crypto
“If you are a remote worker or a digital nomad, having your clients work with Deel guarantees you the possibility of having your money anywhere in the world without complications—it gives you the freedom to move around the world.”
— Elisa Bazán, Administration Manager at TinyBytes
With Deel, TinyBytes transformed payroll from a tedious, error-prone process into a fast, flexible, and cost-efficient system. Their team can now focus on creating world-class games while enjoying seamless, reliable payments across eight countries.
Deel Contractor of Record
How to choose the right tool
The “best” payment platform depends on how you work with contractors. The right choice for a founder running a fast-moving startup won’t look the same as the right fit for a global finance team. Here’s how to think about it.
For startups
If you’re a startup, cost is a big factor. So is keeping admin light. Tools like Wise or Payoneer can help with straightforward transfers. But if you want contracts, tax forms, and compliance sorted from the start, Deel can also be a smart fit. It saves you from switching platforms as you scale.
For larger enterprises
If you’re running an enterprise with a high volume of contractors spread across multiple countries, compliance can’t be optional. You’ll need a platform that handles local tax forms, currency conversions, and payout preferences all in one place. Deel and Remote are designed for this scale, with built-in compliance and a smoother contractor experience.
For independent contractors
If you’re a contractor choosing how to get paid, flexibility should drive your decision. You want a tool that works in your country, supports multiple currencies, and gives you quick access to funds. While PayPal may be familiar and fast, the fees can quickly add up and eat into your profit. Deel offers more control with global wallets, support with tax reports, and integrated bookkeeping.
Think about where you are today, but also where you’ll be six months from now. If you’re planning on hiring more contractors or expanding into new regions, the right tool should be equipped to grow with you.
Deel for Contractors
Streamline global payments with Deel
The gig economy is booming, and contractors are now essential to the modern workforce. They give organizations the agility to scale, tap into specialized skills, and enter new markets without the overhead of full-time hires.
But to fully realize these benefits, businesses must pay contractors efficiently and compliantly. The right solution turns a complex, error-prone process into a seamless one—ensuring payments are accurate, timely, and hassle-free.
Some platforms handle speed, others focus on compliance. Deel brings it all together.
With Deel, you can pay contractors in 150+ countries, automate invoices, and keep tax documents organized—all in one place. Payments are fast, compliance is built in, and every detail is handled for you.
From startups hiring their first freelancer to enterprises running global teams, Deel offers a complete contractor management system that scales with your business.
Ready to simplify global payments? Book a demo today and see how Deel saves you time and money.
More resources
FAQs
What’s the cheapest way to pay international contractors?
It depends on where your contractors live. Bank transfers may look cheap upfront, but they often hide fees in exchange rates. Tools like Wise and Payoneer are cost-efficient for smaller transfers. For larger teams, Deel can reduce costs by handling payments, foreign exchange, and compliance all in one easy-to-use platform.
How quickly can contractors get paid with global payment systems?
Some platforms take days, especially if banks are involved. Wise and Payoneer can deliver faster in certain countries. Deel supports same-day or next-day payments in many regions, so contractors don’t wait weeks to access their money.
Are global payment platforms compliant with tax rules?
Not all of them. PayPal and Stripe process payments but don’t handle contractor tax forms. Deel automates W-8BEN, 1099, and other documents, reducing compliance risk for businesses and making tax season easier for contractors.
Do contractors need a local bank account to get paid?
No. Many tools, including Deel, allow contractors to withdraw funds to multiple methods, including local banks, e-wallets, or cards. PayPal and Wise also offer wallets, but Deel centralizes these options with built-in compliance.
Which global payment tool is best for small startups?
Startups often need flexibility without heavy admin. Wise works well for occasional transfers. PayPal is simple but can get expensive at scale. Deel gives startups an all-in-one platform—payments, contracts, compliance—that scales as they grow.
Jemima is a nomadic writer, journalist, and digital marketer with a decade of experience crafting compelling B2B content for a global audience. She is a strong advocate for equal opportunities and is dedicated to shaping the future of work. At Deel, she specializes in thought-leadership content covering global mobility, cross-border compliance, and workplace culture topics.
