Best Electronic Payment Systems for International Transactions and Payments in 2025

Modern electronic payment systems offer a wide range of tools for international transfers, including multi-currency wallets, cryptocurrency support, integration with bank cards, and minimal fees. They are especially in demand among freelancers, online entrepreneurs, and companies working with foreign partners. The flexibility of such services allows for quick adaptation to currency fluctuations, economic sanctions, and differences in financial regulations across countries. In 2025, the market features numerous solutions that vary in functionality, security levels, and ease of use.

However, choosing the right system requires careful analysis. It is essential to consider the provider’s reliability, available deposit and withdrawal methods, fee structures, and data protection measures. Some platforms offer advanced security features, such as two-factor authentication and fraud protection, which are particularly important for international transactions. In this article, we will review the best electronic payment systems that provide fast and secure global transactions.

What Are Electronic Payment Systems?

An electronic payment system (EPS) is a software and technical infrastructure that enables users to conduct financial transactions electronically via the internet or mobile devices. EPS are designed for transferring funds, paying for goods and services, and managing finances without the use of cash or direct interaction with banks in a traditional format. These systems are widely used for both personal and commercial purposes, including international transactions.

Key Features of Electronic Payment Systems

• Digital Format. All transactions are conducted in a digital environment, eliminating the need for physical bank visits or cash exchanges.
• Intermediation. EPS acts as an intermediary between the sender and recipient, facilitating the transfer of funds through its servers and infrastructure.
• Accessibility. Users only need an internet-connected device (smartphone, computer) and a registered account on the platform to use EPS.
• Multifunctionality. Payment services support various operations, including peer-to-peer transfers, bill payments, online purchases, and fund withdrawals to bank cards or accounts.
• Global Reach. Many systems operate internationally, enabling cross-border transactions with minimal delays.

How Electronic Payment Systems Work

Electronic payment systems operate through the following stages:

1. Registration and Identification. The user creates an account, providing necessary details (email, phone number, and sometimes documents for verification).
2. Account Funding. Funds are deposited into the system via bank cards, accounts, terminals, or other methods supported by the platform.
3. Transaction Execution. The user initiates a transfer, payment, or another operation by specifying the recipient and amount. The system processes the request and transfers the funds.
4. Funds Withdrawal. If needed, money can be withdrawn from the EPS to a bank account, card, or in cash through partner services.
5. Security. Transactions are protected through encryption, passwords, two-factor authentication, and other security measures.

How to Choose the Right System

Selecting the optimal electronic payment system depends on your goals and needs. To make the right decision, consider the following criteria:

• Fees and Charges. Compare service costs, including fixed fees, percentage-based transaction fees, and additional currency conversion charges. Some systems offer free transfers within the platform.
• Processing Speed. Check how long it takes for funds to be delivered. For urgent transactions, opt for systems with instant transfers, while slower but cheaper options may be suitable for less time-sensitive needs.
• Supported Currencies and Countries. Ensure the system works with the currencies and regions you require. Some platforms may not support certain countries due to sanctions or regulatory restrictions.
• Security and Reputation. Review the security measures used by the system and read user feedback. Platform reliability is crucial, especially when dealing with large sums.
• Interface and Support. The ease of use of the app or website and the quality of customer support (preferably in your language) play a key role in everyday operations.
• Additional Features. Some systems offer bonuses such as cashback, investment accounts, card issuance, or integration with accounting software, which can be beneficial for businesses.

Popular Electronic Payment Systems

Electronic payment systems (EPS) have become essential tools for international transactions, offering convenience, speed, and accessibility. In this article, we will explore the features and capabilities of ten popular EPS. Each system has its own advantages and target audience, making them valuable in different fields.

1. Volet (formerly Advanced Cash, AdvCash)

Volet — is a versatile payment system focused on international transfers, multi-currency support, and user convenience, especially for those who value speed and accessibility. The system is widely used in CIS countries and beyond due to its flexibility and support for cryptocurrencies.

Key Features:

• Support for fiat currencies (USD, EUR, RUB, UAH, etc.) and cryptocurrencies (BTC, ETH, LTC, XRP, etc.).
• Issuance of plastic and virtual cards (Mastercard), accepted worldwide for payments and ATM withdrawals.
• Low fees — internal transfers between AdvCash users are free, and withdrawals to external accounts or cards start from 0.5–1%, depending on the method.
• Fast withdrawals — transfers to bank accounts, crypto wallets, or other systems take from a few minutes to 1–2 days.
• Account funding options include bank transfers, cryptocurrencies, or partner exchangers.

Who it’s for: Freelancers working with international clients, crypto traders, and users who need fast cross-border transfers.
Example: A designer in Russia can receive payment from a U.S. client in USD, convert it to RUB, and withdraw to a card with minimal losses.

Go to Volet

2. Capitalist

Capitalist — is a platform designed to simplify international payments for both individuals and businesses. It focuses on automating financial processes and facilitating collaboration with partners around the globe.

Key Features:

• Integration with popular systems (bank accounts, crypto wallets, payment gateways).
• Support for mass payouts — companies can send salaries to hundreds of remote employees or partners with a single click.
• Multi-currency support — USD, EUR, RUB, as well as cryptocurrencies like BTC and USDT.
• No fees for funding accounts through certain methods such as bank transfers or USDT.
• API for payment automation, making the system convenient for developers and online businesses.

Who it’s for:
Small and medium-sized businesses (e.g., IT companies with remote teams), online project organizers (courses, webinars), and entrepreneurs focused on payment automation.
Example: An online store owner can use Capitalist to pay suppliers in China and freelancers in Europe.

Go to Capitalist

3. Payeer

Payeer — is a multifunctional electronic payment system that combines ease of use, a wide range of deposit/withdrawal options, and cryptocurrency support. It is popular among users who value flexibility.

Key Features:

• Support for over 150 deposit and withdrawal methods — from bank cards and e-wallets to terminals and cryptocurrencies.
• Built-in exchange — users can instantly convert BTC to USD or RUB to ETH at internal rates.
• Low fees — internal transfers cost 0.5%, and withdrawals to external accounts start at 1.99%.
• Anonymity — registration takes just a minute, and basic operations (up to certain limits) don’t require verification.
• Mobile app for managing accounts on the go.

Who it’s for:
Users seeking anonymity (e.g., for small transfers without identity disclosure), those working with cryptocurrencies, or anyone in need of a versatile wallet.
Example: A trader can top up their Payeer account via a terminal, exchange RUB to BTC, and then withdraw to an exchange.

Go to Payeer

4. Wise (formerly TransferWise)

Wise — is a British fintech company founded in 2011 by Estonians Kristo Käärmann and Taavet Hinrikus. The service was originally designed to simplify and reduce the cost of international transfers and has since become a popular solution for millions of users worldwide due to its transparency and low fees.

Key Features:

• Real Exchange Rate — Uses the mid-market rate without hidden markups.
• Multi-currency Account — Allows users to hold and convert money in over 50 currencies.
• Mastercard Debit Card — For convenient payments and cash withdrawals abroad.
• Fast Transfers — Up to 45% of transactions are completed instantly (under 20 seconds), with others taking 1-2 days.
• Low Fees — Fees depend on the amount and currency, typically ranging from 0.5% to 2%, which is much cheaper than traditional banks.

Who it’s for:
Students studying abroad who need to pay for accommodation or receive money from parents with minimal currency conversion losses.

Example: An Indian student studying in the UK can receive transfers in GBP from their family, convert excess funds into INR at a favorable rate, and use the Wise card for everyday spending.

Go to Wise

5. ЮMoney (formerly Yandex.Money)

ЮMoney — is a Russian payment system originally created as part of the Yandex ecosystem. It is primarily focused on the local market but is gradually expanding its capabilities for international transactions.

Key Features:

• Simple Registration — Only a phone number is required, and issuing a virtual card takes just a few minutes.
• Convenience for Russia — Payment of utilities, internet, mobile services, fines, and taxes via the app or website.
• Limited International Transfers — Available through partners, but with high fees and limits.
• Fees — 0.5-1% for internal transfers, 3% + 45 RUB for withdrawals to cards.
• Integration with Russian Services (Yandex.Food, Yandex.Taxi, and more).

Who it’s for:
Residents of Russia for everyday transactions (paying bills, online purchases) and limited cross-border payments.
Example: A student can pay for a subscription to a Russian streaming service and transfer money to friends.

Go to ЮMoney

6. WebMoney

WebMoney — is one of the first electronic payment systems, established in 1998. It is known for its complex but reliable wallet system and high level of security, which makes it popular in the CIS countries.

Key Features:

• Multi-currency Wallets — WMZ (USD), WME (EUR), WMR (RUB), WMU (UAH), and others.
• High Security — Uses encryption keys, certificates, and two-factor authentication.
• Support for Transfers, Payments for Goods/Services, and Business Project Integration via API.
• Certification System — Ranges from anonymous to personal, affecting limits and available features.
• 8% Commission for most transactions.

Who it’s for:
Experienced users, entrepreneurs, and businesses in the CIS who value security and flexibility.
Example: An online store owner can accept WMZ payments from international customers.

Go to WebMoney

7. Skrill

Skrill — is an international payment system popular among freelancers, online casino players, and traders due to its fast transfers and support for multiple currencies.

Key Features:

• Supports Over 40 Currencies — From USD and EUR to less common ones like PLN or SGD.
• Prepaid Mastercard Issuance — For payments and cash withdrawals.
• Low Fees for VIP Users — For high-volume users (from $5000/month), fees are reduced to 1% or lower.
• Convenience for Gambling — Fast deposits and withdrawals with gaming platforms.
• Mobile App with instant transfer functionality.

Who it’s for:
Freelancers (e.g., translators on international platforms), gamblers, and users working with brokers.
Example: A poker player can instantly deposit funds onto a platform and withdraw winnings to their card.

Go to Skrill

8. PayPal

PayPal — is a global leader in electronic payment systems, widely used for online purchases, transfers, and working with e-commerce stores. The system is known for its reliability and user protection.

Key Features:

• Available in 200+ Countries with support for multiple currencies (USD, EUR, JPY, etc.).
• High Buyer Protection — Refunds for undelivered goods or disputes with sellers.
• Integration with Platforms — eBay, Shopify, Etsy, and other major services.
• High Fees — Up to 4% for currency conversion and 2.9% + $0.30 per transaction.
• Restrictions in Some Countries (e.g., withdrawal unavailable in certain regions).

Who it’s for:
E-commerce stores, freelancers, and individuals for international purchases.
Example: A buyer from the U.S. can safely order a product on eBay with a money-back guarantee.

Go to PayPal

9. Revolut

Revolut — is a neobank and electronic payment system that combines multi-currency accounts, convenient transfers, and additional financial tools like investments.

Key Features:

• Support for 30+ Currencies with exchange at interbank rates (no markups on weekdays).
• Virtual and Physical Cards (Visa/Mastercard) with free delivery for basic accounts.
• Investment Opportunities: Purchase stocks, cryptocurrencies (BTC, ETH), and precious metals.
• Free Transfers within the System and low fees for international payments.
• Expense Analytics in the app.

Who it’s for:
Travelers (currency exchange without losses), businesses, and users who value multi-currency features.
Example: A tourist can pay in Europe in EUR without losing on conversion from USD.

Go to Revolut

10. Payoneer

Payoneer — is a platform for international payments, focused on freelancers, businesses, and marketplaces. It simplifies receiving payments from overseas clients.

Key Features:

• Receive Payments from Platforms like Amazon, Upwork, Fiverr, Airbnb, and others.
• Mastercard Cards for withdrawing funds at ATMs or making purchases.
• Currency Support: USD, EUR, GBP, JPY, AUD, and more.
• Fees: 1-2% for withdrawals to a bank account, $29.95 for inactivity within a year.
• Payment Request Feature allows users to request payments from clients via a link.

Who it’s for:
Freelancers and businesses working with overseas clients.
Example: A developer can receive payment from an American company through Payoneer and withdraw cash at an ATM.

Go to Payoneer

Advantages and Disadvantages of Electronic Payment Systems

Electronic payment systems offer several significant advantages that make them the preferred choice for international transactions. These benefits are especially evident when compared to traditional financial institutions like banks:

1. Transaction Speed:
   Payments through electronic systems are typically processed instantly or within a few minutes, and in some cases, within a maximum of 24 hours. This contrasts with bank transactions, which may take from two to five business days, especially for international SWIFT transfers.
2. Low Fees:
   Compared to traditional banks, which often charge high fees for currency conversion and processing international payments, electronic payment systems offer more competitive rates. This is particularly important for small businesses and freelancers looking to minimize costs.
3. Convenience and Accessibility:
   Most electronic payment platforms operate 24/7, allowing users to conduct transactions at any time of day, regardless of time zones. Users simply need internet access to manage their funds through mobile apps, websites, or even terminals.
4. Multicurrency Support:
   Support for multiple currencies is a key advantage of electronic payment systems. This simplifies transactions with partners from different countries and reduces conversion losses, as many platforms offer exchange rates close to the market rate.
5. Security:
   Modern technologies such as data encryption, two-factor authentication (2FA), and biometric verification provide high levels of security for users’ funds and personal information. This is crucial in light of the growing cyber threats.
6. Flexibility:
   Electronic payment systems are suitable for both personal use (e.g., transferring money to relatives abroad) and business use (e.g., paying suppliers, receiving payments from clients, or paying salaries to remote employees).

Despite the advantages, electronic payment systems also have certain drawbacks:

1. Regulatory Restrictions:
   In some countries, strict laws may block or restrict the operation of certain electronic payment platforms. This can limit users’ access to services or hinder the platform’s growth in those regions.
2. Cyber Threats:
   The increasing number of cyberattacks requires payment systems to constantly upgrade and enhance their security measures. Despite having advanced security protocols, systems remain at risk of data breaches, hacking, or fraud.
3. Currency Volatility:
   When dealing with multicurrency transactions, users may face losses due to sudden fluctuations in exchange rates. This can be particularly challenging for users who frequently transfer or convert currencies, especially cryptocurrencies.
4. Limited Availability:
   Not all payment systems operate in remote or less developed regions. This can make it difficult for users in certain areas to access or use electronic payment platforms effectively, especially if local infrastructure is not well-equipped for online financial transactions.

Technological Trends and the Future of Electronic Payment Systems

Electronic payment systems are rapidly evolving, adapting to new challenges and technological opportunities. Among the key trends, we can highlight:

1. Blockchain and Cryptocurrencies:
   Blockchain technology promises to make transfers even faster and cheaper by eliminating intermediaries. Platforms like Ripple and Stellar are already implementing such solutions, and the popularity of cryptocurrencies (Bitcoin, Ethereum) is growing among users. Cryptocurrencies are also becoming a more viable option for international transactions due to their speed and low fees.
2. Artificial Intelligence (AI):
   AI helps analyze transactions, prevent fraud, and personalize services for customers. By using machine learning algorithms, payment systems can offer more secure and tailored experiences, detecting suspicious activities in real-time and improving overall customer satisfaction.
3. Mobile Payments:
   The increase in smartphone users is driving the development of mobile apps with payment capabilities through NFC (Near Field Communication), QR codes, and biometrics. This trend is streamlining the payment process, making it more convenient and accessible for users to make payments on the go.
4. Regulation:
   Governments are increasingly regulating electronic payment systems, implementing new rules to combat money laundering and protect user data. While these regulations are essential for improving security and transparency, they may affect the availability of certain platforms in specific regions, especially if they face legal hurdles.

Also read: Step-by-step guide to working with cryptocurrency for beginners, with examples and explanations.

In the future, competition between payment systems will intensify, leading to reduced fees and improved services, making them even more accessible to a broader audience. With advancements in technology and regulatory developments, users can expect a more seamless and secure experience with electronic payments.

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