Stripe vs Airwallex: Which is best for Australian eCommerce in 2026?

Key takeaways

• Stripe is built for developer-first online card payments. We built Airwallex as a complete all-in-one financial platform that brings together a Global Account, Payments, low-cost FX, cards, and yield in one dashboard.

• On 1 October 2026, card surcharges on Visa, Mastercard, and eftpos transactions will be banned in Australia. This means card processing fees will become a direct cut to your profit margins, so finding a lower-cost processor is now a must.

• Stripe converts global sales into AUD at a 2% markup. With Airwallex, you can settle and hold 20+ major currencies natively, saving you from unnecessary conversion fees.

Running an eCommerce business means keeping a close eye on where your money goes — especially with the RBA set to ban most card surcharges on 1 October 2026¹. According to the RBA, cards now account for the majority of consumer payments in Australia, making up 73% of all transactions in 2025². Without the ability to pass card fees on to your customers at checkout, choosing between Stripe and Airwallex is a major decision for your bottom line.

Both platforms offer payment gateways that plug into your eCommerce store, but the right choice comes down to more than just processing rates. Read on to see how they compare on price, features, and total value.

How does Airwallex work?

Paying suppliers overseas or collecting global payments shouldn't eat into your hard-earned profits with extra bank fees. That's why we built Airwallex. It's a global financial platform, not a bank, letting you open local foreign currency accounts in 20+ currencies and receive payments from 70+ countries. You can also access low-cost FX and transfer funds to 200+ countries and regions. Our checkout options let you accept customer payments through payment links or full embeddable low-code checkouts and accept 160+ local payment methods in 130+ currencies.

How does Stripe work?

Stripe is a developer-friendly payment gateway that captures customer payments both online and in-store and sends the net amount straight to your linked, external Australian bank account. It's strong for programmatic subscription billing and automated business invoices. But because Stripe isn't a business account, you can't use it to hold multi-currency balances, manage team expenses, or make everyday supplier payouts.

Stripe vs Airwallex: feature and fee comparison

Here's a quick look at how the features and fees stack up for Australian merchants.

Stripe vs Airwallex: In-depth comparison

Multi-currency collection and settlement

When you process an international card payment with Stripe, the platform automatically converts the funds into AUD and sweeps them to your bank account. This triggers a 2% currency conversion fee on top of your payment fee. If you want to settle USD or NZD like-for-like, you can open and link separate external bank accounts yourself.  For any other currency, there is a forced conversion with Stripe. 

With Airwallex, your customer payments are settled  like-for-like in 20+ major currencies straight into your multi-currency account.  If you earn EUR from a customer in Germany, you can hold it in your EUR wallet until you need it again. You bypass the forced conversion entirely, keeping your profits intact.

Payment acceptance and checkout experience

Checkouts that don’t offer the payment methods your customers are looking for can affect conversion. Stripe offers 100+ local payment methods, offering a wide range of options, and is highly regarded by developers for its incredibly customisable payment tools. If you have a technical team, Stripe's API and pre-built frontend modules let you build complex subscription models and customised checkouts from scratch.

If you're looking for a low-code option that still scales globally, our payment gateway integrates directly with popular eCommerce platforms like Shopify and WooCommerce. We support more than 160 local payment methods, including international buy now, pay later options like Klarna and Afterpay. By automatically showing local payment options to your buyers based on where they live, we help you boost conversions without the dev heavy lifting.

Card issuing and expense management

With Airwallex Corporate Cards, you can instantly issue physical or virtual Visa cards to your team with built-in spend controls. Your staff can upload receipts on the fly, and the transactions sync directly with Xero or QuickBooks for quick reconciliation. Best of all, our cards have 0% international transaction fees, meaning your team can pay for global software subscriptions without extra charges.

Stripe's card programme serves a completely different purpose. Stripe Issuing is an API tool built for developers who want to embed card creation into their own software products. It's not a ready-to-use team expense tool, and it doesn't offer an off-the-shelf expense management solution for Australian businesses.

Returns on idle balances: Airwallex Yield vs Stripe

Leaving your hard-earned business cash sitting idle in a non-interest account means you're missing out on valuable returns. With Airwallex Yield, you'll earn competitive net returns through highly diversified, low-risk money market funds managed by J.P. Morgan Liquidity Funds. There are no lock-up periods – funds generally settle back to your cash balance within 1–2 business days. While Yield is an investment product with rates subject to change, it's a simple way to make your cash work harder.

Stripe doesn't have a native cash management or yield product for Australian businesses. Any funds you process through Stripe sit in a non-interest-bearing state until they sweep to your linked bank account. 

Airwallex pricing and fees for Australian businesses

We keep our pricing simple and transparent, combining a waivable monthly fee with competitive transaction rates.^3,4 ⁴

• Monthly subscription: The Explore plan is A$0 if you deposit at least A$5,000 per month or hold a balance of A$10,000 or more.

• Card acquiring rates: It costs 1.65% + A$0.30 per transaction for domestic transactions, and 3.40% + A$0.30 for international card transactions

• FX markups: Standard conversions for  major currencies cost a flat 0.5% above interbank rates, and 1% for others.

• Outbound transfers: Sending money locally to over 120 countries is completely free. 

Stripe pricing and fees for Australian businesses

Stripe operates on a pay-as-you-go transactional model, meaning you don't pay any setup or ongoing monthly fees.

• Monthly subscription: A$0 setup and ongoing maintenance fees.

• Card acquiring rates: Standard online processing costs 1.70% + A$0.30 per online domestic card transactions, and 3.50% + A$0.30 for online international card transaction fees.

• Currency conversion fee: If Stripe converts your international payments into AUD, it adds a 2.0% currency conversion fee on top of your payment fee.

• Add-on costs: If you want to expand what the platform can do, modular costs apply. These include Stripe Billing for subscriptions, Stripe Tax, and advanced Stripe Radar fraud filters (some features are included for certain accounts).

What currencies can I settle like-for-like with on Airwallex and Stripe in Australia? 

Australian-registered businesses can settle payments like-for-like in 20+ major currencies directly into Airwallex’s built-in multi-currency wallet. Stripe allows like-for-like settlement for NZD and USD only – but first, you’ll need to set up separate NZD and USD currency bank accounts.

Like-for-like settlement refers to settling currencies in the same currencies you receive them in, with no currency conversions and associated FX fees.

This table shows some of the like-for-like settlement currencies available in Australia for major card schemes. See our settlement schedule and currencies to view all available currencies , including in other regions and payment methods overview for additional settlement currencies available depending on card schemes and local payment methods.

Grow faster at home and abroad with Airwallex

Both Stripe and Airwallex are strong payment providers, with Stripe being well-known across the industry for its comprehensive payment processing and developer-friendly APIs. One area where Airwallex differs is its global payment coverage and wider breadth of financial solutions that can jumpstart your operations faster and at lower costs.

Here’s why you might consider Airwallex over Stripe:

• Greater global coverage of local payment methods: Airwallex offers 160+ local payment methods, compared to Stripe's 100+. That includes 20+ local payment methods in Asia not available through Stripe.

• Like-for-like settlement in 20+ currencies: Collect and settle foreign currency payments directly into Airwallex Wallet, with no need to convert currencies or open separate bank accounts. With Stripe, businesses first need to set up foreign currency bank accounts to get the same benefit for USD and NZD only.

• Protect your profit margins: Secure lower domestic (1.65%) and international (3.40%) card acquiring rates. This cost gap becomes crucial from 1 October 2026 when the RBA surcharging ban means you must absorb transaction fees directly.

• International BNPL options: Airwallex lets you collect international payments with BNPL options like Klarna and Afterpay. With Stripe, businesses can only collect payments domestically using these options.

• Comprehensive financial operations: Beyond payment processing, manage international transfers, FX conversions, multi-currency business accounts, corporate cards, and expense management all on one platform.

• Affordable local support: Airwallex includes local Australian support at no extra cost for businesses of all sizes. Stripe's Enterprise Support with dedicated account managers is only available to larger businesses at a premium cost.

• Lower fees: Save on card payment fees and avoid hidden costs with transparent FX pricing and like-for-like settlement.

All of these features can help your business onboard faster, launch into new markets quickly, and grow your business with confidence. Our value proposition is simple but powerful: Airwallex can simplify domestic and cross-border payments, and consolidate financial operations, with ongoing local support.

Frequently asked questions: Stripe vs Airwallex

Is Stripe or Airwallex better for international businesses?

Both Stripe and Airwallex work well for international businesses, but they have different strengths. Airwallex excels in multi-currency management, global payments support with 160+ local payment methods, and comprehensive financial operations tools. Stripe is well-known for developer-friendly payment processing. For Australian businesses with significant international operations, Airwallex's like-for-like settlement in 20+ currencies and integrated business accounts provide significant advantage.

How do Airwallex fees compare to Stripe fees?

Airwallex offers slightly lower payment processing costs for card payments. However, the biggest difference is in how each platform handles currency conversion.

• For card payment fees: Airwallex charges 1.65% + A$0.30 for domestic cards and 3.4% + A$0.30 for international cards. Stripe charges 1.7% + A$0.30 for domestic and 3.5% + A$0.30 for international.

• For currency conversion: This is where costs can really add up. When you receive payments in foreign currencies, Stripe charges an additional 2% currency conversion fee if you settle in AUD.

Airwallex's like-for-like settlement lets you receive and hold payments in 20+ currencies without this conversion fee, so you only convert when you choose to. For businesses with international customers, this can mean substantial savings.

What are the key differences between Airwallex and Stripe?

The key differences are: Airwallex provides an all-in-one platform for financial operations including multi-currency business accounts, international transfers, corporate cards, and expense management. Stripe focuses primarily on payment processing with developer tools. Airwallex offers like-for-like settlement in 20+ currencies without separate bank accounts, while Stripe requires separate bank accounts for USD and NZD only. Airwallex includes local support at no extra cost, while Stripe charges additional fees.

Can I use Airwallex for card payments like Stripe?

Yes, Airwallex processes card payments from major card schemes (Visa, Mastercard, American Express) just like Stripe. Airwallex also supports 160+ local payment methods including digital wallets, bank transfers, and BNPL options. The payment gateway integrates with eCommerce platforms and offers API integration for custom implementations, similar to Stripe's developer tools.

What is like-for-like settlement?

Like-for-like settlement is a process that ensures that the currency a business receives in their business account is the same as the currency in which the payment was made. This means that if a customer pays in US dollars (USD), the funds will be settled directly into your account in USD, without currency conversion. This approach helps businesses avoid unnecessary foreign exchange fees and ensures that you receive the exact amount you are owed, making international payments more transparent and efficient. Airwallex offers like-for-like settlement in 20+ currencies directly into its multi-currency wallet.

Does Airwallex support international transfers?

Yes, Airwallex supports international transfers to 200+ countries. Unlike Stripe, which focuses solely on payment processing, Airwallex provides comprehensive transfer solutions including batch payments, competitive FX rates (interbank + 0.5-1%), and the ability to pay from your multi-currency balances. This makes Airwallex ideal for businesses that need to pay international suppliers, contractors, or manage global payroll.

Which platform has better developer tools?

Stripe is widely known for its developer-friendly tools and well-documented APIs. Airwallex also offers comprehensive API integration with no-code, low-code, and fully-customisable options. While Stripe has a longer history in the developer community, Airwallex provides modern APIs that are increasingly popular with Australian businesses, particularly those needing integrated financial operations beyond just payment processing.

Can I avoid currency conversion fees with Airwallex?

Yes, with Airwallex's like-for-like settlement in 20+ major currencies, you can avoid the 2% FX conversion fee entirely. When customers pay in EUR, GBP, SGD, or other supported currencies, funds settle directly in those currencies into your Airwallex multi-currency wallet. You only convert when you choose to, at transparent interbank rates + 0.5–1%. This gives you control over currency conversions and can save significant money compared to forced conversions.

Does Airwallex have hidden costs?

No, Airwallex is transparent about all fees. There are no hidden costs. The main fees are card payment processing (1.65% + A$0.30 domestic, 3.4% + A$0.30 international) and a 1% foreign currency settlement fee for like-for-like settlement. Unlike some providers, Airwallex doesn't charge setup fees, monthly account fees for the base plan, or surprise charges. All pricing is clearly outlined upfront.

Which payment gateway is better for small businesses in Australia?

For small businesses in Australia, both platforms offer strong solutions. Airwallex may be better if you need comprehensive financial operations beyond just payment processing, such as multi-currency business accounts, international transfers, or expense management. Airwallex also includes local Australian support at no extra cost. Stripe may be better if you primarily need payment processing with extensive developer tools and don't require additional financial services. Consider your specific needs for global payments, currency conversions, and financial operations when choosing.

Sources

1. https://www.rba.gov.au/payments-and-infrastructure/review-of-retail-payments-regulation/2026-03/ 

2. https://www.rba.gov.au/publications/bulletin/2026/may/consumer-payment-behaviour-in-australia.html 

3. https://stripe.com/au/pricing

The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) read the Product Disclosure Statement (PDS) for the Direct Services available here.