Compare the top 6 digital payment systems & solutions in Australia 2025

Key takeaways

• Digital payment systems are a secure and efficient way for businesses to process online transactions and manage their finances through a centralised dashboard

• To choose the right system, you should consider key features like security, cost, integration capabilities, global reach, and scalability

• With multi-currency accounts, global payment acceptance and market-leading FX, Airwallex is one of the top digital payment systems providers in Australia.

Scaling internationally shouldn't mean drowning in payment headaches. The right digital payment system makes it easy to accept payments from anywhere, settle in multiple currencies, and skip the painful FX markups. You shouldn't need five different tools to make it happen.

Australia's digital payment market is valued at US$118 billion and growing at over 20% annually.¹ For digital marketing agencies, eCommerce aggregators, and other scaling businesses, choosing the right payments partner has never mattered more.

We've compared the top digital payment platforms in Australia to help you find one that grows with you. Here's what you need to know.

What is a digital payment system?

A digital payment system is software that processes electronic transactions between buyers and sellers, allowing businesses to accept payments online via credit cards, debit cards, bank transfers, and digital wallets. It's also referred to as an electronic payment system or online payment platform.

The best digital payment systems go beyond basic processing. They provide a centralised dashboard to manage all transactions, support multiple currencies, integrate with accounting and eCommerce platforms like Xero and Shopify, and offer built-in fraud protection. This makes it easier for businesses to sell globally without juggling multiple tools.

How do digital payment systems work?

Digital payment systems process transactions by securely transferring funds from a customer's bank account, credit card, or digital wallet to a merchant's account. This happens in seconds, but involves multiple steps behind the scenes.

Here's how the payment flow works:

1. Initiation: The customer enters their payment details on a website, mobile app, or point-of-sale terminal.

2. Encryption: The payment gateway encrypts the data and sends it to the payment processor.

3. Verification: The processor checks the transaction with the customer's bank (issuing bank) and the merchant's bank (acquiring bank).

4. Authorisation: The issuing bank approves or declines the transaction based on available funds and fraud checks.

5. Settlement: Funds transfer from the customer's account to the merchant's account, typically within 1–3 business days.

The top digital payment systems and solutions in Australia in 2025 

There are a few digital payment systems and solutions available in Australia in 2025, with the best depending on your business needs. Airwallex is one of the top digital payment systems providers available in Australia and globally, offering multi-currency accounts, global payment acceptance, and market-leading FX.

• Airwallex: All-in-one global finance platform combining payment acceptance, multi-currency accounts, FX, corporate cards, and expense management.

• Eway: Australian payment gateway with 250+ eCommerce integrations and no monthly fees.

• GoCardless: Direct Debit platform for recurring billing and subscription-based businesses.

• PayPal: Globally trusted checkout with wide consumer recognition and buyer/seller protection.

• Stripe: Developer-first payment processing with powerful APIs and built-in billing tools.

• Worldpay: Enterprise payment processor with reach across 146 countries and 126 currencies.

Top features to look for in digital payment services

There are several features to look out for when you’re comparing digital payment providers, including security, cost, integration capabilities, global reach and scalability.

• Security: At the minimum, your provider should be PCI DSS compliant and have fraud prevention systems in place. For best-in-class, look for advanced encryption, SOC1, SOC2 and PSD2 compliance.

• Cost: Find a platform that’s right for you by asking about fee structure and the length of the contract. Don’t forget about monthly subscription fees, foreign transaction fees and currency conversion costs.

• Integration capabilities: It’ll make reconciliation, checkouts and forecasting easier and faster if your digital payment software integrates easily with your existing accounting and eCommerce platforms.

• Global reach: Look for a provider that helps you accept global payments without paying unnecessarily high FX or conversion fees, and offers local payment methods to your customers.

• Scalability: Look for a solution that can handle increased transaction volumes and multiple overseas markets without significant disruptions. This reduces the likelihood of you having to switch providers as you grow.

Compare the top digital payment systems in 2025

The top digital payment systems available to Australian businesses in 2025 suit a variety of different needs and use cases. For example, Airwallex suits businesses looking to grow globally without borders, while GoCardless can suit subscription-based businesses looking for a simple way to accept one-off or recurring payments.

Airwallex

Airwallex is a global payments and financial platform built for businesses that operate across borders. Accept payments in 160+ payment methods across 200+ countries, with no-code to fully-customisable integration options. Like-for-like settlement lets you receive payments in the same currency your customers pay in, so you can avoid unnecessary FX conversions and keep more of your revenue.

Open local bank accounts in 20+ currencies without visiting a bank or dealing with complicated paperwork. The platform combines payment acceptance with FX, international transfers, corporate cards, expense management, and Yield (an investment product that earns competitive rates on idle AUD and USD funds). Everything you need to manage global payments and finances in one place.

Pros

• All-in-one platform for payments, accounts, FX, cards, and expense management.

• Competitive FX rates from 0.5%, with 94% of transfers settling via local rails for faster, cheaper transactions.

• Local account details in 20+ currencies and settlement in 20+ currencies without forced conversions.

• Integrates with Xero, Shopify, WooCommerce, NetSuite, and MYOB for seamless accounting and eCommerce workflows.

Cons

• No physical branches – digital only platform and service.

• New updates and optimisations being released regularly, which may not suit all businesses.

• Physical POS system coming soon.

Eway 

Eway is an Australian payment gateway founded in 1997, specialising in online payment acceptance. Eway offers a straightforward platform with transparent flat-rate pricing of 1.5% + 25c per transaction for domestic cards. With over 250 integrations including WooCommerce, Shopify, and Xero, Eway allows secure payment processing with your existing business tools.²

Eway provides both an Online Payments product (which includes a merchant account) and a Payment Gateway option for businesses that already have their own merchant facility. The platform offers no setup fees, no monthly fees, and no lock-in contracts for its Online Payments solution.

Pros

• No monthly fees or setup costs for the Online Payments product.

• Simple flat-rate pricing of 1.5% + 25c for major domestic cards (Visa, Mastercard, Amex).

• Over 250 pre-built integrations with eCommerce platforms, accounting software, and shopping carts.

• Australian-based support team with local knowledge and dedicated customer service.

Cons

• Requires a separate Eway account for each currency you want to process.

• Payment gateway only (no multi-currency accounts, corporate cards, or expense management).

• Limited to merchants operating in Australia, New Zealand, Singapore, Hong Kong and Macau.

GoCardless 

GoCardless is a payments platform specialising in Direct Debit and bank-to-bank payments for businesses looking to accept one-off or recurring payments. Headquartered in London, GoCardless helps businesses collect one-off, recurring, and scheduled payments directly from customer bank accounts across 30+ countries. This makes it ideal for subscription businesses, membership organisations, and companies that need automated recurring billing.

GoCardless offers two pricing plans for Australian businesses; the Standard plan charges 1% + $0.40 per transaction (capped at $4); and the Advanced plan costs 1.25% + $0.40 per transaction (capped at $5) and includes intelligent payment retry features. International Direct Debit transactions cost 2% + $0.40 (Standard) or 2.25% + $0.40 (Advanced). The platform integrates with 350+ accounting and billing platforms, including Xero, QuickBooks, and Sage.³

Pros

• Low transaction fees with a $4 cap, making it cost-effective for high-value recurring payments.

• Specialises in automated recurring billing with intelligent payment retry to reduce failed payments.

• Collect Direct Debit payments from 30+ countries with real exchange rates (powered by Wise).

• 350+ pre-built integrations with accounting, membership, and subscription billing software.

Cons

• Direct Debit and bank payments only (doesn't accept credit or debit card payments).

• Best suited for recurring billing models rather than one-off transactions.

• No multi-currency accounts, FX services, or corporate card offerings.

PayPal 

PayPal is a widely recognised digital payment platform that allows businesses to accept payments through credit and debit cards, bank transfers, and PayPal balances. The platform offers invoicing, subscription billing, mobile payments, and checkout solutions.

Standard commercial transaction fees in Australia are 2.9% + $0.30 for domestic transactions. International transactions and currency conversions incur an additional 3–4% FX fee (typically 4% for most conversions).⁴ While PayPal allows businesses to hold multiple currencies in their account, it doesn't provide local bank account details in those currencies. All incoming payments are automatically converted with the FX fee applied, which can significantly increase costs for businesses handling international transactions.

Pros

• Familiar payment option for many consumers.

• Accepts credit/debit cards, bank transfers, and PayPal balances.

• Buyer and seller protection programmes included.

• Integrates with major eCommerce platforms.

Cons

• High domestic transaction fees (2.9% + $0.30) compared to other payment gateways.

• Expensive currency conversion fees of 3–4% applied on top of transaction fees.

• Doesn’t provide a multi-currency business account with local bank details (though you can hold multiple currency balances in PayPal).

Stripe 

Stripe is a payment processing platform that allows businesses to accept online and in-person payments. The platform offers a suite of APIs and pre-built tools for payment acceptance, subscription billing, invoicing, and checkout optimisation. Stripe supports a wide range of payment methods, including credit and debit cards, digital wallets, and local payment methods across multiple currencies.

Stripe's standard pricing in Australia is 1.7% + 30c for domestic card transactions and 3.5% + 30c for international cards. Currency conversion incurs an additional 2% fee. Stripe operates on a pay-as-you-go model with no monthly subscription fees for standard payment processing. While Stripe excels at payment acceptance, it's primarily a payment processor rather than a full financial operations platform. It doesn't offer multi-currency accounts for holding funds, corporate cards, or expense management tools.⁶

Pros

• No monthly subscription fees for standard payment processing (pay-as-you-go pricing).

• Competitive domestic transaction fees (1.7% + 30c).

• Extensive developer tools and APIs for custom payment integrations.

• Built-in analytics, reporting, and fraud detection (Radar).

Cons

• Payment processor only (no multi-currency accounts, corporate cards), requires separate platforms for treasury, FX, and spend management needs.

• Expensive for international transactions (3.5% + 30c plus 2% FX fee).

WorldPay 

Worldpay is a global payment processing company that provides businesses with infrastructure to accept online and in-person payments. Established in 1971 and headquartered in Cincinnati, Ohio, Worldpay processes over 50 billion transactions annually. The platform accepts payments in 170+ countries and supports 135 currencies, offering various payment methods including credit and debit cards, digital wallets, bank transfers, and Buy Now Pay Later options.⁷

Worldpay uses an interchange++ pricing model, where fees are based on the card issuer's interchange rate plus a markup. Pricing varies by merchant, transaction type, and volume, requiring custom quotes for businesses. The platform integrates with major eCommerce platforms and offers real-time monitoring through dashboards. However, Worldpay is primarily a payment processor and doesn't offer multi-currency accounts, corporate cards, or spend management tools.

Pros

• Extensive global reach across 170+ countries and 135 currencies

• Built-in fraud prevention and risk management tools (RiskGuardian)

• Supports diverse payment methods including cards, wallets, and local payment options

• Integrates with major eCommerce platforms including Shopify, Magento, WooCommerce

Cons

• Interchange++ pricing requires merchant-specific quotes (no transparent public pricing)

• Payment processor only (no multi-currency accounts, corporate cards, or expense management)

• Complex fee structure and lengthy onboarding process

What questions should you ask when onboarding a digital payment solution?

There are a few questions to ask when you're looking to start up with a digital payment system, including pricing structure, global payment support, the payment methods and integrations that are available, analytics and tools, and customer experience.

1. What security and compliance measures are in place? Look for PCI DSS Level 1 compliance, end-to-end encryption, and advanced fraud detection. For Australian businesses, verify the provider meets AUSTRAC requirements for anti-money laundering (AML) and holds appropriate Australian Financial Services Licences (AFSL).

2. How transparent is the pricing structure? Request a complete breakdown of transaction fees (domestic and international), monthly costs, FX margins, and any hidden charges for chargebacks or failed payments. Understanding the true cost of currency conversion is critical for businesses handling cross-border transactions, as FX fees can significantly impact your bottom line.

3. Does the platform support multi-currency accounts and global payments? Determine whether the provider allows you to hold funds in multiple currencies or forces automatic conversion with FX fees. Check if you can receive local account details in different countries to avoid expensive international wire fees.

4. What payment methods are supported for Australian customers? Beyond Visa, Mastercard, and American Express, check for eftpos, BPAY, PayID, digital wallets (Apple Pay, Google Pay), and Buy Now Pay Later options (Afterpay, Zip). If you serve international customers, ensure the platform supports region-specific payment methods in your target markets.

5. How does the solution integrate with your existing systems? Verify seamless integrations with your accounting software (Xero, MYOB, QuickBooks), eCommerce platform (Shopify, WooCommerce, Magento), and ERP systems. Check API documentation quality and whether pre-built plugins are available to reduce setup time.

6. What level of customer support is provided? Understand support channels (phone, email, live chat), business hours, and response times. For Australian businesses, check if local support teams are available during AEST/AEDT business hours or if you'll rely on offshore teams.

7. Can the platform scale with your business growth? Evaluate whether the solution can handle increasing transaction volumes and offers features you'll need as you expand (corporate cards, expense management, advanced reporting). Switching payment providers is expensive and time-consuming, so choose a scalable solution from the start.

8. How are refunds, chargebacks, and disputes handled? Understand the refund process, how long funds are held during disputes, and what support is provided during chargebacks. For Australian businesses, clarify how GST is handled on refunded transactions.

9. What reporting and analytics capabilities are available? Strong reporting tools help you reconcile transactions, forecast cash flow, and identify trends. Check for real-time transaction data, customisable reports, and automated reconciliation with your accounting software.

10. What is the checkout and customer experience like? A seamless checkout process directly impacts conversion rates. Evaluate whether the payment page is customisable to match your brand, optimises for mobile devices, and includes features like saved payment methods or one-click payments.

Why choose Airwallex as a digital payment system?

Airwallex is a global financial platform that transforms how businesses move and manage money domestically and internationally.

As a digital payment system, it helps businesses build frictionless global checkouts instantly, issue payment links, offers 160+ local payment methods, and settles like-for-like in 20+ currencies.

Beyond transactions, Airwallex is also known for streamlined global funds management. With a Business Account, you can issue multi-currency employee corporate cards in 60+ markets and manage your expenses to track spending, simplify expense reimbursement processes, boost budget management and improve employee productivity.

Airwallex is a smart choice if you're looking to benefit from:

• Gold-standard security: Safeguard funds with best-in-class payment acceptance and fraud protection. PCI DSS, SOC1 and SOC2 compliant with 60+ licences globally.

• Flexible payment options: Offer your customers 160+ payment methods, with local options that cater to their preferences.

• Global reach: Collect payments in 130+ currencies, open local foreign currency accounts in 20+ countries and payout to 200+ countries.

• Competitive fees: Maximise revenue with like-for-like currency settlement in 20+ currencies, access market-leading FX rates in 90+ currencies, and 94% of transactions via local rails.

• Fast settlement: 93% of transactions arrive the same day, with 50% arriving instantly.

• Seamless integration: Plug in seamlessly (no coding required) with platforms like Shopify, WooCommerce, Xero and NetSuite.

Frequently asked questions

What is a digital payment system?

A digital payment system is a kind of software or digital tool that facilitates electronic payments and helps businesses manage their money. 

What important factors to choose when selecting a digital payment solution?

There are lots of factors worth considering, including security and compliance, fees and costs, integration with business tools, scalability and growth potential, and which payment methods are supported. 

How much does it cost to onboard a digital payment company?

Pricing varies between providers; some offer subscription plans, while others operate on a per-transaction model. Don’t forget there are often hidden fees for international payments. 

How safe are digital payment services?

Secure digital payment services should include fraud prevention systems, end-to-end data encryption and be compliant with PCI DSS (the global security standard for organisations that store and process sensitive data).

What's the difference between a payment gateway and a payment processor?

A payment gateway (like Eway) authorises and routes payment transactions between customers and merchants, while a payment processor (like Stripe or Worldpay) handles the actual movement of funds. Some providers like Airwallex offer both capabilities plus additional features like multi-currency accounts, corporate cards, and expense management in an all-in-one platform. Understanding this distinction helps you choose between a simple payment acceptance tool versus a complete financial operations platform.

Can I hold multiple currencies with a digital payment system?

Not all digital payment systems offer multi-currency accounts. Payment processors like Stripe, Worldpay, and Eway focus on accepting and settling payments. Stripe, for example, supports multi-currency settlement – you can accrue balances and receive payouts in multiple currencies if you attach matching bank accounts – but it doesn’t provide a dedicated multi-currency business account with its own local account details and broader cash-management tools.

PayPal technically lets you hold multiple currency balances in your PayPal wallet, but it doesn’t give you true local bank account details in each currency, and FX margins of around 3–4% usually apply when converting or withdrawing foreign currency balances.

Airwallex and Revolut are two providers offering dedicated multi-currency business accounts, where you can hold and manage balances in 20+ currencies with local account details in multiple countries, alongside features like FX, transfers, and corporate cards.

Do digital payment systems integrate with Australian accounting software?

Most digital payment systems integrate with popular Australian accounting software like Xero, MYOB, and QuickBooks. Airwallex, Stripe, Revolut, and GoCardless all offer direct integrations or plugins that automatically sync transaction data, simplifying reconciliation and reducing manual data entry. When evaluating providers, check whether they offer pre-built integrations with your existing tech stack or require custom API development, as this can significantly impact setup time and ongoing operational efficiency.

How do foreign exchange (FX) fees work with international payments?

FX fees are charged when you accept payments in a currency different from your settlement currency, or when you need to convert funds between currencies. Traditional payment processors typically charge 2–4% on top of transaction fees. PayPal charges 3–4% for currency conversion; Stripe charges an additional 2%; and Revolut applies fees outside plan allowances. Airwallex offers competitive FX rates from 0.5% and settles 94% of transactions via local payment rails, which significantly reduces costs for businesses handling international transactions. The difference between a 0.5% and 3% FX margin can save thousands of dollars monthly for businesses with substantial cross-border payment volumes.

Sources

1. https://www.imarcgroup.com/australia-digital-payment-market

2. https://www.eway.com.au/payment-gateway-solutions/#pricing

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

4. https://www.paypal.com/au/business/paypal-business-fees

5. https://www.revolut.com/en-AU/business/business-account-plans/

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

7. https://www.worldpay.com/en-AU/products/online

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.