Stripe vs Airwallex: compare on fees, features and benefits

Tilly Michell5 minutes
Business tipsE-commerce
Stripe vs Airwallex: compare on fees, features and benefits
In this article

If your business sells products or services online, you'll need a payment gateway to accept credit and debit card payments from customers. Both Stripe and Airwallex offer payment gateways that can plug into your eCommerce store, but which solution is right for your business? 

Read on to find out how Airwallex compares to Stripe on price, features and benefits. 

What is Stripe?

First things first — what is Stripe?

Stripe is a payment processing company that offers business owners a platform to accept single and recurring payments from customers.

Stripe offers a point-of-sale (POS) payment processor for brick-and-mortar retailers to accept in-person payments, and a payment gateway for eCommerce businesses to accept debit and credit card payments online. Mobile wallet payments, “buy now, pay later” and invoicing services are also available through Stripe.

What is Airwallex?

Airwallex is a one-stop solution for cheaper and more efficient money management.

The Airwallex online payment gateway integrates seamlessly with Shopify, WooCommerce and Magento, and offers cheaper transaction fees for debit and credit card processing, and better FX rates than Stripe.

Airwallex allows eCommerce businesses to settle in multiple currencies directly into a Foreign Currency Account. In practice, this means companies can collect online payments from domestic and international customers in multiple currencies, hold funds in their Airwallex account, and use those funds to pay out to suppliers, avoiding conversion fees.

Airwallex also offers Borderless Cards, end-to-end expense management, and fast money transfers to 150+ countries.

Compare Stripe with Airwallex 

Airwallex (AU) Stripe (AU)
Free to sign up
Online payment gateway
Domestic card payments 1.65% + AUD 0.30 1.75% + AUD 0.30
International card payments 3.4% + AUD 0.30 3.5% + AUD 0.30
FX rate* 0.5-1% 0.5-2%
Payment links
Multi-currency business account
Borderless debit cards
International transfers
Expense management
Point of sale payments

Stripe fees explained

Stripe charges a per-transaction fee for each successful credit or debit card payment your customers make. Stripe fees vary based on whether the card used is domestic or international.

Stripe’s international fees explained

Stripe charges 3.5% plus an additional AUD 0.30 for each successful international transaction. Stripe international fees also increase by 2% if currency conversion is involved.

💰 Money-saving tip: Reduce unnecessary conversions and fees on transactions with the option to collect and settle in the same currency using Airwallex. Plus, pay only a 0.5% or 1% FX margin above the interbank exchange rate, depending on the currency.

Do Stripe fees have GST?

A final fee to be aware of is the Goods and Services Tax (GST). GST is included in Stripe’s payment, foreign exchange, and dispute fees for users in Australia (as well as any other country that collects GST). The current GST rate is 10%.

Airwallex fees explained

Airwallex also charges a per-transaction fee for successful credit and debit card payments. These fees vary depending on whether the card payment is domestic or international.

Airwallex international fees explained

Airwallex international transaction fees are in line with Stripe. However, our FX fees are lower, at just 0.5 - 1%. This means that you can accept payment from international customers in their local currency and convert your funds back to AUD without excessive fees. Allowing you to tap into new markets and grow your business internationally without narrowing your profit margins.   

Airwallex Global Accounts explained

Airwallex Global Accounts allow you to settle in multiple currencies without converting funds to AUD. For example, if your business has US customers, you can collect payment in USD, hold those USD in your account, then use the USD to pay for expenses (such as SaaS subscriptions and Google adverts) without being subject to FX fees. 

You can transfer funds from your account to 150+ countries, or pay out using Borderless Cards.

Use Airwallex as an alternative for more cost-efficient global payment acceptance

The Airwallex online payment gateway makes accepting domestic and international payments easier and more affordable. 

Airwallex integrates seamlessly with eCommerce platforms such as Shopify, WooCommerce and Magento, allowing you to build a frictionless global checkout fast. Once set up, you can accept customer payments in multiple currencies directly into your Global Account. 

Airwallex multi-currency settlement allows you to accept foreign currency payments without auto-converting to AUD, saving you 2% on each international transaction vs Stripe. If you do wish to convert your funds, you can take advantage of Airwallex’s low FX rates.

The benefits of Airwallex's online payment gateway include:

  • Accept payment from 180+ countries and regions via 160+ payment methods.

  • Settle like-for-like in mutliple currencies directly into your Global Account. Avoid double conversions and hedge against currency fluctuations.  

  • Pay out to suppliers and staff in multiple currencies directly from your Global Account. 

  • Enjoy competitive FX rates — just 0.5 to 1% above the interbank exchange rate.

  • Choose from flexible integration options, ranging from a simple plug-and-play solution to a fully customisable checkout.

  • Reduce chargebacks and improve payment acceptance rates with our pre-chargeback program and smart retry logic.  

  • Protect your funds and data with our 3DS fraud engine.

  • Enjoy the benefits of Airwallex’s full product suite, including Global Accounts, Borderless Cards, end-to-end expense management, faster global transfers and embedded finance.

The benefits of Stripe’s online payment gateway include:

  • Get paid globally in 135+ currencies and dozens of payment methods.

  • Flexible integration options, from hosted payment pages to fully customisable flows.

  • Protect your business from fraud and increase authorisation rates on every payment using Stripe’s machine learning and data from millions of businesses.

  • Create customisable invoices to accept recurring or one-off payments.

  • Stripe’s full stack of products and services includes online payments, billing, invoicing, point of sale and embedded finance.

Final thoughts

Australian eCommerce companies can save money while growing their businesses at home and abroad by signing up for a free Airwallex business account. That translates to better profit margins for your business, and thousands of dollars back in your pocket.

Sign up free today to learn more.

Related article: A Guide to Multi-currency Payment Gateways

Disclaimer: 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) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here.

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Tilly Michell
Content Marketing Manager

Tilly manages the content strategy for Airwallex. She specialises in content that supports businesses in their growth trajectory.

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