Best small business payment solutions in Australia

Key takeaways

• The best payment systems for small businesses include Airwallex, Square, Stripe, GoCardless, Shopify, Zeller, and PayPal

• When you compare payment systems – online and in-store options – consider payment methods, transaction costs, checkout conversion tools, and multi-currency support.

• Airwallex cuts online transaction costs compared to platforms like Stripe, Square, and PayPal by letting you hold 20+ currencies natively to skip expensive currency conversions.

Australian shoppers spent a record $82.6 billion online last year – 24% of all retail spend – as tighter budgets push more purchases toward value and convenience¹. That spend only converts into revenue if your checkout is fast, cheap, and frictionless. The payment system you choose for your small business, whether it’s for online or in-store (or both) decides how much of each sale you actually keep, so it’s important to get right.

In this guide, we’ll take you through your options and show you the features worth considering before you decide on the payment solution that’s right for you.

What are small business payment solutions and how do they work?

A small business payment solution is the combination of a gateway, a processor, and an acquirer that moves money from your customer's card to your business account. Each layer does a specific job – knowing them helps you see exactly where your fees go.

The core elements of a payment system

Instead of dealing with a bank for each piece separately, a unified payment provider handles the full chain – gateway, processor, and acquirer – under one login, which keeps your financial operations running smoothly.

Payment gateway

A payment gateway securely transmits payment details from your customer to your business. It encrypts card data and screens for fraud before passing it to the processor.

Payment processor

A payment processor verifies the transaction. It checks with card networks like Visa and Mastercard that the card is valid and funded, then authorises the payment and instructs the customer's bank to release the money.

Merchant acquirer

A merchant acquirer is the financial institution that holds your funds and manages your merchant account, including chargebacks, disputes, and refunds.

In Australia, acquirers also handle least-cost routing – an RBA-regulated process that sends dual-network debit transactions through the cheapest available network, usually eftpos rather than Visa or Mastercard. For physical retailers, this alone can save thousands of dollars a year in card fees.

Best small business payment systems in Australia compared

Here's how Australia's leading payment systems compare on cost, currency support, and checkout options.

The best small business payment platforms reviewed

Selecting the right tool depends entirely on your business model. We've assessed the top solutions based on transaction fees, card acceptance, settlement speeds, and accounting software syncs.

Airwallex

Selling online shouldn't force you to give up 2% to 4% of your revenue to bank foreign exchange fees. We built Airwallex to bring your entire global payment workflow into one unified dashboard. Airwallex is an all-in-one financial platform with a payment gateway embedded in. You can accept customer payments and settle the funds like-for-like into your multi-currency wallet, avoiding forced conversion for 20+ currencies. With Airwallex, you can also manage your business finances with Expense Management, Bill Pay, business cards, and more.

Fees

• Monthly fee: A$0 if you hold a balance of $10,000 or deposit A$5,000 monthly, otherwise A$29/month

• Domestic card fees: 1.65% + A$0.30

• International card fees: 3.40% + A$0.30

Pros

• Boost conversions by offering 160+ local payment methods

• Accept payments 130+ currencies across 180+ countries and settle like-for-like in 20+ currencies

• An all-in-one financial platform through a single dashboard: Cards, Expense Management, a multi-currency business account, Yield, and more

• AI-powered payment tools to prevent fraud and automate conversion optimisation

Cons

• Physical POS is still being launched in Australia

• Digital-only platform, no physical branches

Stripe

Stripe is a developer-first payments platform that gives businesses full control over checkout design and subscription billing through flexible APIs, rather than relying on rigid, off-the-shelf templates. It's a choice for SaaS, marketplace and subscription businesses that need custom payment flows without building infrastructure from scratch.

Fees

• Monthly fee: $0 (pay-as-you-go, no platform subscription)

• Domestic card fee: 1.70% + A$0.30 per online transaction

• International card fee: 3.5% + A$0.30 plus a 2% currency conversion fee 

Pros

• Access to developer tools and fully customisable checkout experiences

• Built-in fraud protection (Radar) screens transactions automatically

• Modular add-ons like Billing and Tax let you scale functionality as you grow

Cons

• Currency conversion adds a 2% fee to international card payments

• Costs escalate quickly once you layer on modular products like Billing or Tax

Square

Square is an all-in-one point-of-sale system built for brick-and-mortar retailers, market stallholders and pop-up traders who need affordable hardware without long-term rental contracts. It pairs low-cost card readers with free POS software, letting small merchants start accepting payments within minutes of setup. It also offers online checkouts for eCommerce sellers.

Fees

• Monthly fee: $0 

• Domestic card fee: 2.2% (online transactions)

• International card fee: 2.2% + currency conversion fee

Pros

• Hardware available outright from $65

• Built-in offline mode keeps accepting payments even when the internet drops

• Free POS software included with every account

Cons

• The flat 2.2% online fee gets expensive as digital sales volume grows

• No published multi-currency rates, making international costs hard to estimate

GoCardless

GoCardless removes the manual chase of unpaid invoices and failed card payments by automating bank-to-bank direct debit mandates. It's built for businesses with recurring or high-value billing – think subscriptions, memberships and B2B invoicing – where predictable collection matters more than instant checkout.

Fees

• Monthly fee: No fixed fee on the pay-as-you-go Standard plan 

• Domestic transactions: 1% + A$0.40 capped at A$4

• International transactions: 2% + A$0.40

Pros

• Transaction fees are capped at A$4

• Reduces involuntary churn caused by failed or expired cards

• Mandate setup is fully automated, cutting manual payment chasing

Cons

• Doesn't support real-time credit card processing or mobile wallets like Apple Pay

• Settling funds into your account can take several business days

PayPal

New websites often struggle to earn a first-time visitor's trust with their card details. PayPal solves this by lending its widely recognised checkout button to your store, borrowing decades of buyer trust to help lift conversion at the point of payment.

Fees

• Monthly fee: $0 (pay-as-you-go, no subscription required)

• Domestic card fee: 2.90% + A$0.30 

• International card fee: 3.90% + A$0.30 plus currency conversion of 3–4%

Pros

• Checkout brand recognition that can lift conversion rates

• Broad compatibility with almost every eCommerce platform

• Buyer familiarity reduces friction for first-time customers

Cons

• Currency conversion markup of 3–4% on international sales

• Dispute resolution can favour buyers, leaving merchants exposed to chargeback costs

Shopify

Running a retail business gets messy when checkout, inventory and accounting live on different platforms. Shopify Payments brings all three into one dashboard, so sales data flows automatically between your online store and physical locations.

Fees

• Monthly fee: A$56

• Domestic card fee: 1.75% + A$0.30 per online transaction 

• International card fee: 3.50% + A$0.30

Pros

• Automatically syncs sales and inventory across online and physical stores

• Native tools like Shop Pay speed up checkout and boost conversion

• Consolidates payments, inventory and accounting in a single dashboard

Cons

• Only works for stores built on the Shopify platform

• Charges a 2% fee for third-party transactions

Zeller

Paying traditional banks high monthly rental fees for slow card terminals hurts local retail margins. Zeller flips this model by letting merchants own their terminal outright and pairing it with a free business transaction account.

Fees

• Monthly fee: A$0 

• Domestic card fee: 1.75% + $0.25

• International card fee: Zeller processes payments in AUD only

Pros

• Own hardware outright from $99, with no ongoing monthly terminal fees

• Routes card transactions automatically through the cheapest available network

• Free transaction account included with every setup

Cons

• Processes payments in AUD only, so you can't hold foreign currencies

• Lacks deep API features needed to build custom online checkouts

What types of payment methods are available for small businesses?

Your buyers want checkout choices that match how they shop, whether they're buying online or settling an invoice. Here are the payment methods you can consider offering your customers.

• Payment links let you create a custom payment URL in seconds to send to your clients via SMS or email. When they click, they land on a secure payment page – an easy way to get paid for one-off transactions and service invoices without coding.

• Checkouts (no-code or code) let you outsource your online security. Drop a simple, pre-built, no-code checkout form onto your site, or hire a developer to build a coded version. The provider handles the PCI security, protecting your customer data.

• Payment plugins connect your checkout directly to your store builder. If you run WooCommerce or Magento, installing a plugin lets you accept major cards and digital wallets without forcing visitors to leave your site.

• Payment APIs give you complete control over your customer checkout journey. APIs let your website communicate directly with your payment provider, so you can build custom billing experiences with your logo and branding.

What features should small businesses look for in a payment solution?

The headline card processing fee is only part of the cost. Hidden charges, manual data entry, and slow payouts can quietly drain your margins.

Multi-currency support

Traditional systems convert foreign transactions into AUD automatically, charging a 2% to 4% conversion fee. Airwallex lets you open Global Accounts with local bank details in 20+ currencies, so you can collect and hold funds natively, then pay global bills directly from those balances – a process known as like-for-like settlement.

Integrations

Check that your provider syncs natively with tools like Xero or QuickBooks. This lets your sales data flow automatically into your books, saving hours on reconciliation.

Security and fraud prevention

Security must be non-negotiable. Look for PCI DSS Level 1 compliance to keep your data secure. Your platform should also feature card tokenisation to hide sensitive details and 3-D Secure verification to stop fraudulent transactions before they process.

Payment methods and conversion tools

Improve checkout completion rates by offering the payment methods your customers actually prefer. Look for adaptive checkouts that display local currencies and automatically recommend the right payment method for your customer's device.

Why businesses choose Airwallex for small business payments

Airwallex brings your bank accounts, payment gateways, and expense tracking into a single dashboard. Accept card payments from 180+ countries, hold 20+ currencies natively, and sync everything with Xero. Put your idle cash to work with competitive returns through Yield. Issue multi-currency corporate cards to manage employee expenses and pay for international software without extra bank charges. 

Frequently asked questions

How do I set up a payment system for my small business?

Start by choosing an all-in-one payment provider that suits your business. Next, register online and upload your business identification, such as your ABN. Finally, drop a hosted checkout onto your website, install a payment plugin, or start sharing payment links with your clients.

Do small businesses need a merchant account to accept card payments?

No – you don't need to open a separate merchant account with a traditional bank. Modern payment service providers combine a payment gateway and a shared merchant account, letting you accept card payments with a fast, digital setup.

What is the cheapest way to accept card payments in Australia?

From 1 October 2026, a card surcharging ban takes effect in Australia for eftpos, Visa, and Mastercard transactions, so you'll no longer be able to pass transaction fees on to customers – making your underlying provider cost the thing that actually matters. Note: American Express, Diners Club and BNPL schemes are not covered by this ban; the RBA has flagged a separate future consultation on three-party card schemes.

Sources

• https://auspost.com.au/business/ecommerce/ecommerce-report

• https://www.airwallex.com/en-au/pricing

• https://gocardless.com/en-au/pricing

• https://stripe.com/au/pricing

• https://squareup.com/au/en/pricing

• https://www.shopify.com/au/pricing 

• https://gocardless.com/en-au/pricing