Stripe vs Airwallex: Which is best for Australian businesses 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 Business Account, Payments, low-cost FX, cards, and Yield in one dashboard.

• On 1 October 2026, card surcharges on Visa, Mastercard, and eftpos transactions were banned in Australia. This means card processing fees have 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's recent ban on card surcharges. Credit and debit cards continue to dominate consumer spend, with Australians making 1.1 billion worth of debit card transactions in August 2026, an increase of 2% MoM and 8% YoY¹. Credit cards and NPP transactions also increased.

With electronic transactions remaining a preferred spending method and 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?

Airwallex is an all-in-one financial platform letting you operate globally seamlessly. In Australia, Global Accounts provide local account details in 20+ currencies so you can receive funds from 70+ countries. You can also access low-cost FX and pay out to 200+ countries and regions. You can accept customer payments through your choice of checkout – payment links, low-code payment plugins, hosted payment page, and POS coming soon – as well as accept 160+ local payment methods in 130+ currencies.

How does Stripe work?

Stripe is a developer-friendly payment platform for online and in-person payments. It offers a range of checkout options including payment links, pre-built payment UIs, and in-person terminals. In Australia, businesses can now also access Stripe Treasury, a financial account for holding, converting and sending funds. It's an option for programmatic subscription billing and automated business invoices. Stripe Treasury's account, card and spend-management capabilities are still rolling out and accessed separately from Stripe Payments.

Stripe vs Airwallex: Quick 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

With Stripe, Australian accounts can set up multi-currency settlement in 10+ currencies which settle for a 1% fee. For other currencies, there is a forced conversion with Stripe. A 2% conversion fee applies when currency conversion is required.

With Airwallex, your customer payments are settled  like-for-like in 20+ major currencies straight into your Business Account. Your Business Account also lets you set up local account details in those 20+ currencies so you can do business like a local. Multi-currency capabilities also extend to your Corporate Card spend – issue Corporate Cards to your team for individual or company purchases and enjoy 0% foreign transaction fees when spending from a held currency balance.

Payment acceptance and checkout experience

Checkouts that don’t offer the payment methods your customers are looking for can affect conversion. Stripe offers 125+ local payment methods, offering a wide range of options, and is highly regarded by developers for its 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 such as 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 across 60+ regions 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. Our cards also have 0% international transaction fees when spending from a held currency balance.

Stripe will offer debit cards as part of Stripe Treasury, but these cards are not currently available in Australia. Stripe Debit Cards will be available as both physical and virtual cards.

AI and agentic finance capabilities

Stripe and Airwallex are both developing agentic-commerce capabilities for Australian businesses, but product availability, access and rollout status differ.

Stripe combines Radar, Authorization Boost, Shared Payment Tokens and agentic-commerce infrastructure; Radar Lite is included, while advanced Radar tiers are separately priced. Its Agentic Commerce Suite, which lets merchants sell directly to AI shopping agents, is currently limited to US businesses.

Airwallex builds AI into payments at no extra cost through Optimize 360, which lifts approval rates by up to 2.6% and adapts fraud rules in real time. Airi, its one-click checkout wallet, cuts checkout time by up to 3x and lifts conversion by up to 14%, and is being extended into a secure agentic wallet for AI-authorised purchases. Australian merchants can also use the Agentic Commerce Suite to accept payments initiated by AI agents across ACP, UCP and other major protocols.

Returns on idle balances: Airwallex Yield vs Stripe

Airwallex Yield lets your business 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 and instant withdrawals are also available.

Stripe doesn't have product that earns interest or returns 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.

• Monthly subscription: Explore is A$29 per month, or A$0 when you deposit at least A$5,000 per month or hold a balance of at least A$10,000

• Card acquiring rates: It costs 1.65% + A$0.30 per transaction for domestic transactions, and 3.45% + 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: Free transfers over local payment rails to 120+ countries.

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 1.65% + 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% 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, Stripe Tax and advanced Radar features; Radar Lite is included with Payments, while advanced Radar tiers are separately priced.

Why eCommerce companies continue to choose 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.

There are several area where Airwallex differs, and that includes its global payment coverage and breadth of financial solutions.

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 125+.

• Like-for-like settlement in 20+ currencies: Collect and settle foreign currency payments directly into Airwallex Global Accounts, with no need to convert currencies or open separate business accounts. With Stripe, you can settle 10+ currencies but will be charged a 1% fee.

• Protect your profit margins: You can secure lower domestic card acquiring rates with Airwallex. This cost gap has become more important since the RBA surcharging ban.

• Comprehensive financial operations: Beyond payment processing, Airwallex lets you manage international transfers, FX conversions, multi-currency business accounts, corporate cards, and expense management all on one platform. Stripe has expanded its offering with Stripe Treasury, but still lacks the breadth of Airwallex's platform.

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-focussed 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 3.45% + A$0.30 for international cards. Stripe charges 1.65% + 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. Stripe also offers like-for-like settlement, but tacks a 1% fee on top of this.

What are the key differences between Airwallex and Stripe?

The key differences are: Airwallex provides an all-in-one platform for financial operations including Business Accounts, FX & transfers, Corporate Cards, and expense management. Stripe focuses primarily on payment processing with developer tools, and has recently launched Stripe Treasury in Australia. It is also planning to launch debit cards as part of its Treasury suite. Airwallex offers like-for-like settlement in 20+ currencies without an additional fee compares well to Stripe's settlement for 10+ currencies with a 1% fee.

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 Global Accounts compare to 10% with Stripe for a 1% fee.

Does Airwallex support international transfers?

Yes, Airwallex supports international transfers to 200+ countries. Unlike Stripe, which focuses mainly on payments and has recently expanded to storing and spending business funds, 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 Global Account. 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, 3.45% + A$0.30 international) and our subscription fees. Unlike some providers, Airwallex doesn't charge setup fees 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.ausbanking.org.au/data-research/data/payments/

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

3. https://docs.stripe.com/treasury/cards

4. https://stripe.com/au/money-management/availability#explore

5. https://docs.stripe.com/treasury/store-funds

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