Comparing Wise, Airwallex, and Mural Pay for Colombian Exporters

Colombian exporters are navigating a new landscape in international payments. In 2024, exporters faced average delays of 4–6 business days and paid international transaction fees as high as 6.5%, according to the Colombian Association of Exporters (Asocolflores, 2024). As global trade volumes continued to rise—cross-border payments to Colombia reached $13.2 billion in 2024, a 10% increase from the previous year—businesses have grown increasingly frustrated with slow settlements, high costs, and compliance headaches.

FX volatility further complicates the financial planning of Colombian exporters. For these reasons, exporters are actively seeking alternatives that can speed up cross-border payments and reduce costs. This article compares three of the most prominent platforms—Wise, Airwallex, and Mural Pay—showing how each addresses the most pressing challenges for Colombian exporters. For a deeper look at speeding up cross-border payments, see our guide to how Colombian exporters can speed up cross-border payments.

Wise, Airwallex, and Mural Pay: What Exporters Need to Know

In 2025, Wise vs Airwallex vs Mural Pay has become a central comparison for Colombian businesses navigating the world of cross-border payments. These platforms offer exporters a way to bypass the slow, expensive corridors of traditional banking—each with unique features, costs, and compliance profiles.

For exporters, the ability to access multi-currency accounts for exporters and settle payments in USD or EUR instantly is becoming essential as global trade accelerates. Wise is a UK-based fintech, known for transparent, low-fee currency conversion and global business accounts, but does not support stablecoins. Airwallex is an Australian fintech that enables multi-currency wallets, batch payments, and open API integrations, though it relies on local banks for settlement and does not support stablecoins. Mural Pay is a platform with stablecoin rails, offering instant, low-fee settlements, batch and recurring payments, and compliance tools tailored to Latin American exporters.

As compliance requirements for cross-border transactions continue to change in Colombia, platform choice is increasingly about regulatory alignment as well as cost and speed. Mural Pay and Airwallex both provide API integration, allowing businesses to automate payment and reconciliation workflows.

For more about setting up virtual USD accounts, see our guide to receiving USD payments as a business in Colombia.

The Biggest Pain Points for Colombian Exporters in 2025

It’s a question nearly every Colombian exporter faces: What are the main challenges for Colombian exporters in 2025?

The real answer is that exporters continue to face high transaction fees (ranging from 3% to 7%), settlement delays of 4–6 business days, and increasing complexity in compliance and FX volatility. According to the latest Asocolflores survey (2024), 62% of exporters cite payment delays as their top concern, a figure echoed by the Colombian National Association of Foreign Trade (Analdex, 2024).

More than 48% of Latin American SMEs indicate plans to increase their use of digital payment solutions in 2025, underscoring the urgency to address these challenges. What really matters is staying ahead of compliance requirements and minimizing hidden costs.

For advice on this, see our cross-border payment compliance tips for Colombian SMEs.

Feature Showdown: Wise vs Airwallex vs Mural Pay (For Exporters)

Choosing the best payment platforms for Colombian exporters means understanding how each platform stacks up on core features, fees, settlement speed, and compliance.

All three platforms offer varying degrees of transaction tracking, but Mural Pay stands out with real-time settlement visibility and automated reconciliation. According to a 2024 report by Fintech LatAm Review, Wise and Airwallex reduced typical wire transfer costs by 30–50% compared to banks, but only Mural Pay offered near-instant settlement via stablecoins.

For an in-depth look at batch payments, see our batch payments for Colombian payment service providers quick guide.

Real-World Results: What Colombian Exporters Are Experiencing Now

Colombian exporters are seeing measurable improvements with these platforms and exporter payment solutions Latin America.

Case 1: Software Firm (Mural Pay)
A Bogotá-based software company reduced its payment fees by 80% and cut settlement times from 5 days to under 10 minutes after switching to Mural Pay’s stablecoin rails (Mural Pay, 2024). This mirrors the wider Latin American trend, with stablecoin adoption in business payments growing 430% in 2023.

Case 2: Coffee Exporter (Wise & Airwallex)
A leading coffee exporter found that while Wise and Airwallex both reduced fees and enabled batch payments, they still encountered delays (2–3 days) and some compliance hurdles with local banks (Fintech LatAm Review, 2024).

Case 3: Regional Agency
An Argentinian virtual assistant agency leveraging Mural Pay’s batch payments cut payout times by 70% and reduced transaction errors, illustrating the growing regional impact of real-time settlement fintech. Fintech adoption is particularly high among SMEs that have struggled to access reliable cross-border banking services.

For more on virtual accounts, see our comparison of the best virtual dollar accounts for Colombian exporters.

Compliance, Regulation, and FX: What Every Exporter Must Watch For

Too many Colombian companies focus solely on fees or speed, but compliance for cross-border payments Colombia remains a critical challenge.

Key takeaway: All cross-border payments must comply with the latest FX and crypto/stablecoin regulations set out by Banco de la República and DIAN. In 2025, exporters must ensure full KYC/KYB documentation, report all foreign exchange transactions, and disclose any use of stablecoins or digital assets. Non-compliance can result in blocked transfers or significant penalties.

Checklist: Verify recipient/sender identity, use platforms offering real-time tracking, and always disclose stablecoin/digital currency use for tax and compliance. Engaging with non-compliant platforms can result in blocked payments and regulatory penalties.

Making compliance part of your payment process is essential.

For a summary of the latest FX regulations, visit our resource on new FX regulations in Colombia.

The Future of Export Payments: Why Stablecoins and APIs Are Changing the Game

Stablecoin payments for exporters are rapidly shifting from niche to mainstream. According to Chainalysis (2024), stablecoin usage in Latin American business payments grew by 430% in the past year, and fintech adoption among Colombian SMEs is up 46% (LatAm Fintech Association, 2025).

Regulators in Colombia increasingly view stablecoins as tools for both financial inclusion and greater transaction transparency. “Stablecoins are rapidly becoming the preferred method of settlement for exporters facing USD shortages in Latin America,” notes the Chainalysis LatAm Report (2024). Platforms like Mural Pay and Airwallex are leading the way by integrating API-first architectures, enabling real-time settlement, automated reconciliation, and direct ERP/accounting integration—meaning exporters no longer need to choose between compliance and speed.

API integrations are now enabling exporters to synchronize payment data directly with their ERP and accounting systems, streamlining compliance and reporting.

For more on how digital platforms are changing the landscape, see our guide to how digital platforms are changing export payments in Colombia.

References

• Asocolflores. (2024). Exporters’ Payment Challenges in Colombia. https://www.asocolflores.org

• Banco de la República. (2025). FX and Crypto Regulatory Updates. https://www.banrep.gov.co

• Chainalysis. (2024). The 2024 Geography of Cryptocurrency Report: Latin America. https://www.chainalysis.com

• Fintech LatAm Review. (2024). Airwallex and Wise for LatAm Exporters: A Comparative Analysis. https://www.fintechlatamreview.com

• LatAm Fintech Association. (2025). Fintech Adoption in Colombia. https://www.latamfintech.org

• Mural Pay. (2024). Case Studies and Platform Features. https://www.muralpay.com