I do not think contractor payments should start with the question “Which payment tool should we use?”

That is usually the wrong first question.

The first question is:

What kind of working relationship are we paying for?

A one-off freelancer, a long-term independent contractor, a consultant, an agency, and an employee hired through an Employer of Record are not the same operationally. They may all receive money from the company, but the workflow before the payment is different.