Top 5 Stripe alternatives: Compare payment platforms in Australia

Key takeaways:

• The best Stripe alternatives in Australia include Airwallex, Adyen, PayPal, Square, and GoCardless

• When comparing your other options, consider what checkout options are available, fees for accepting card transactions, conversion optimisation tools, multi-currency support, payment methods, and the breadth of the platform.

• Airwallex offers a compelling Stripe alternative for global, digital-first businesses with competitive pricing, multi-currency accounts, 160+ payment methods, and built-in financial tools.

Stripe is a popular payment gateway for Australian businesses, but it may not be the best fit for every eCommerce company. If you're looking for lower transaction fees, better international payment support, or an all-in-one financial platform, several alternatives offer compelling advantages.

According to the Reserve Bank, online payments comprised 20% of all consumer payments in 2025, compared to 18% in 2022. There was also a rise in the number of these payments being made on mobile phones and apps – rising to 46% of all payments in 2025, up from 37% in 2022¹. It's never been more important for eCommerce businesses to meet consumers where they are by offering the right payment methods and the best checkout.

Here, we compare five leading Stripe alternatives so you can make the right choice for your business.

What is Stripe? 

Stripe is a payment platform that lets businesses accept and process payments online, in-app, and in person.

It serves businesses of all sizes, from enterprises like Amazon and Lyft to growing eCommerce stores and single-location retailers using point-of-sale (POS) systems. Businesses use Stripe to accept credit and debit cards, digital wallets (Apple Pay, Google Pay), and buy now, pay later (BNPL) options.

For Australian businesses, Stripe offers two account types:

• Standard: 1.7% + A$0.30 per domestic card transaction; no monthly fee

• Custom (enterprise): negotiated pricing for high-volume or complex payment models

How does Stripe work?

Stripe works by connecting your business to the global payments network and handling each step of a transaction, from authorisation to settlement.

When your customer pays, Stripe authorises the transaction with the customer's bank; verifies the payment details and runs fraud detection; and settles funds into your business bank account, typically within 2–7 business days.

Stripe offers a number of checkout options include pre-built and flexible UI checkout pages, no-code payment links, physical point-of-sale (POS), and fully customisable APIs.

The top alternatives to Stripe

Here are the top alternatives to Stripe.

• Airwallex is an all-in-one financial platform that offers a number of checkout options and payment processing, international payments, multi-currency accounts, corporate cards, and more. Founded in Australia, we simplify cross-border transactions for businesses of all sizes, from scaling startups to enterprise.

• Adyen is a financial platform that is a payment gateway, processor, and acquiring bank in one, supporting 250+ payment methods across online, in-app, and in-person channels.

• PayPal is a payment gateway with over 20 years in market, enabling businesses to accept credit cards, debit cards, and bank transfers online.

• GoCardless is a payment platform specialising in direct debit and account-to-account payments, built for businesses that collect recurring payments such as subscriptions and invoices.

• Square is a payment and point-of-sale platform that combines card readers, POS hardware, and sales management software — popular with in-person retailers and hospitality businesses.

Compare the top five alternatives to Stripe

In-depth: Features of the top Stripe alternatives in Australia

Airwallex, Adyen, PayPal, GoCardless, and Square are all alternatives to Stripe, but each have their strengths. Our platform, Airwallex stands out from the rest with our end-to-end financial operations and global reach. It’s a strong option for businesses that are looking to scale their financial and payment operations domestically and internationally. 

Below, we summarise the key features and fees of each Stripe alternative. For full product and fee information, including other charges, please visit each provider’s official website. 

Airwallex

Airwallex is a global financial platform that lets you accept payments via 160+ local payment methods across 180+ countries and 130+ currencies. Flexible checkout options — from no-code Payment Links to fully customisable API integrations and plugins for Shopify, WooCommerce, Magento, and more — mean you can get set up quickly or build a checkout that's entirely your own. Once you're live, Optimize 360, Airwallex's built-in AI engine, automatically routes transactions and retries declined payments to lift approval rates by up to 2.6% — with no manual configuration required.

Settlement works differently to most payment processors, too. Airwallex settles in the same currency your customers pay in across 20+ currencies, so USD payments land in USD – no forced conversion, and up to 80% savings on FX fees compared to traditional banks. Opening a Global Account is straightforward: no branch visits, no paperwork, and local bank details in 20+ currencies available within minutes. The platform also supports FX and transfers across 90+ currencies at interbank rates, with ~95% of international transfers arriving same day.

Airwallex fees

• Monthly fee: From A$29 per month, which can be waived by holding a minimum of A$10,000 or depositing A$5,000 per month. 

• Domestic card transactions: 1.65% + A$0.30

• International card transactions: 3.40% + A$0.30

Pros

• An all-in-one platform for business financial operations, combining a Global Account, multi-currency cards, payment acceptance, Expense Management, Yield, and more

• AI-powered optimisation (Optimize 360) improves approval rates automatically

• Local banking details in 20+ currencies, with payment acceptance across 180+ countries

• Like-for-like settlement in 20+ currencies avoids unnecessary conversion fees

• Low-code to no-code checkout options suit a range of tech capabilities

Cons

• No physical branches – digital only platform and service

• New updates and optimisations being released regularly, which may not suit the user habits of all consumers

• Physical POS system coming soon

Adyen

Adyen is an enterprise payment platform used by Uber, Spotify, eBay, and McDonald's that acts as gateway, processor, and acquiring bank in one. It supports 200+ payment methods across 150+ currencies, with online, in-app, and in-person payments all managed through a single API and back-end integration. Adyen processed €1.4 trillion in transactions in 2025 and is built for businesses that need high-volume, multi-market payment infrastructure at scale.

Adyen requires custom contract before you can get started, making it better suited to enterprise businesses with dedicated tech and finance teams than to growing SMEs. There are no setup or monthly fees, but pricing is based on an Interchange++ model, meaning your transaction costs vary depending on card type, region, and scheme fees, which can be difficult to forecast.

Adyen fees

• Monthly fee: A$0 (monthly minimum invoice applies)

• Domestic fees: A$0.11

• International fees: A$0.11

• Card fees: A$0.11 + interchange ++ 0.60% (varies by card type)

Pros 

• Single platform for online, in-person, and in-app payments

• Direct acquiring in 40+ markets improves acceptance rates

• 200+ payment methods and 150+ currencies from one integration

Cons 

• Likely not suited to small or growing businesses

• Interchange ++ pricing can be harder to predict

• Minimum invoice regardless of transaction volume

PayPal 

PayPal is one of the world's most recognised payment platforms, with over 439 million active accounts globally and 36 million+ merchants accepting it at checkout. For Australian businesses, it supports credit and debit cards, bank transfers, PayPal balances, and buy now, pay later, along with invoicing, subscription payments, and QR code payments in person.

Standard domestic commercial transactions cost 2.90% + A$0.30 per transaction, while international business payments incur 3.90% + a fixed fee. Currency conversion adds a further 3–4% on top of the exchange rate — making PayPal an expensive option for businesses with international sales. It also doesn't hold multi-currency balances, so funds settle in AUD by default.

PayPal fees

• Monthly fee: A$0

• Domestic transactions: 2.90% + A$0.30

• International transactions: 3.90% + A$0.30

• Currency conversions: 3–4%

Pros 

• Recognised and trusted by consumers globally

• Built-in buyer and seller protection

• Suits both online stores and in-person payments via QR code

Cons

• Limited checkout customisation compared to API-first alternatives

• International transaction and currency conversion fees stack up quickly for businesses selling overseas

• Funds settle in AUD only

Square 

Square is a payment and point-of-sale platform primarily built for businesses that sell in person, but it also offers online payment options. Its ecosystem spans card readers, POS terminals, and a free POS app, plus built-in software for inventory, staff management, and appointments – making it a practical all-in-one for cafes, retailers, and service businesses.

Online selling is supported but comes at a higher rate, and Square isn't designed for businesses with significant cross-border needs. The flat 2.2% online fee does not include currency conversion fees for accepting international cards and these aren't broken out explicitly — making it harder to forecast costs when selling to international customers. There's also no multi-currency account, so funds always settle in AUD.

Square fees

• Monthly fee: A$0 (paid plans available)

• Domestic card fees: 2.2%

• International card fees: 2.2% + currency conversion fee

Pros

• Quick setup with no monthly fee and straightforward flat-rate pricing

• Full in-person ecosystem: card readers, POS terminals, and free POS software included

• Built-in tools for inventory, staff, and appointments suit bricks-and-mortar businesses

Cons

• Higher rate for online transactions (2.2%) compared to in-person (1.6%)

• No multi-currency accounts — all funds settle in AUD

• International FX costs aren't itemised, making cross-border fees hard to forecast

• Limited customisation compared to developer-first platforms

GoCardless

GoCardless is a bank payment platform built for businesses that collect recurring payments — subscriptions, invoices, and instalments — directly from customers' bank accounts via direct debit. Rather than processing card payments, it pulls funds straight from the payer's bank, which means lower transaction fees, fewer failed payments, and no need to chase customers once a direct debit mandate is in place. Over 100,000 businesses use GoCardless to collect and send payments across 30+ countries, processing more than US$130 billion annually.

GoCardless doesn't accept card payments, so businesses that need card acceptance at checkout will need a separate provider alongside it. Settlement typically takes two to three business days from collection, and GoCardless uses the real exchange rate powered by Wise for international transactions, with no additional FX margin on top.

GoCardless fees

• Monthly fees: A$0

• Domestic fees: 1% + A$0.40 (capped at A$4)

• International fees: 2% + A$0.40

Pros

• Lower transaction fees than card processing for recurring billing

• Integrates with 350+ tools including Xero, QuickBooks, and Zuora

• Transparent FX pricing using the real exchange rate (powered by Wise)

Cons

• Doesn't accept card payments – requires a second provider if card checkout is needed

• Processing can be slow compared to other options

• Limited payment options

Why choose Airwallex over Stripe?

Why Airwallex is the best Stripe alternative for Australian businesses

Stripe is a strong payments platform, and for businesses focused primarily on domestic card payments it's a capable choice. But for businesses that operate across borders — or want to consolidate more of their financial operations in one place — Airwallex offers meaningful advantages.

More than a payments processor

Airwallex combines payment acceptance with Global Accounts, FX and transfers, Corporate Cards, Expense Management, and Bill Pay in a single platform. For a growing business, that means one login, one integration, and one reconciliation process instead of stitching together separate tools for collecting, holding, converting, and spending money internationally.

Lower FX costs

Stripe converts currencies automatically when customers pay in a currency different from your settlement currency, charging a 2% conversion fee on top of its standard transaction fees. Airwallex's like-for-like settlement means USD payments stay in USD, EUR payments stay in EUR — no automatic conversion and no conversion fee unless you choose to convert for 20+ currencies. When you do need to convert, Airwallex charges 0.5–1% above interbank rates, compared to the 2–4% margins typical of banks and legacy platforms. For businesses with meaningful international revenue, the savings compound quickly.

Built-in AI optimisation

Airwallex's Optimize 360 is natively integrated into the payment stack rather than offered as an add-on. It automatically routes each transaction through the optimal acquiring path, retries declined payments intelligently, and reduces unnecessary authentication friction. This delivers up to 2.6% higher approval rates with no manual configuration. Fraud protection works the same way: built in, always on, with a false decline rate of ~1.4% against an industry benchmark of 2–3%.

Simpler international infrastructure

With Airwallex, you can open local foreign currency accounts in 20+ currencies, payouts to 200+ countries, and ~95% same-day international transfers are all available from the same platform — without layering in additional providers.

Stripe remains a good fit for domestically focused businesses or developer teams building highly customised payment flows. Airwallex is better suited to businesses with international customers, multi-currency revenue, or finance teams looking to replace a stack of separate tools with one platform.

Stripe alternatives: Frequently asked questions

What is the cheapest alternative to Stripe in Australia?

Airwallex offers among the lowest domestic online card processing fees at 1.65% + A$0.30 per transaction, compared to Stripe’s 1.7% + A$0.30. For a business processing $100,000 annually, this difference would save around $50 per year on domestic online card transactions alone.

Square offers 1.6% for card-present (in-person) transactions, but charges 2.2% for online payments, making Airwallex more cost-effective for many eCommerce businesses.

Can I hold multiple currencies with Stripe alternatives?

Yes. Airwallex allows you to hold and settle funds in 20+ currencies with like-for-like settlement, meaning you can receive USD payments and keep them in USD without forced conversion, and open local accounts in multiple markets.

Stripe supports multi-currency pricing and can settle into different currencies depending on your setup, but it doesn’t provide a single, fully-fledged multi-currency business account like Airwallex.

PayPal lets you hold balances in multiple currencies, but it doesn’t give you local bank account details in each market. Square primarily settles funds in your home currency (e.g. AUD for Australian merchants) and doesn’t support multi-currency account balances.

What is the best Stripe alternative for eCommerce businesses?

Airwallex is one of the best Stripe alternative for eCommerce businesses because it combines low transaction fees (1.65% + A$0.30c), seamless integration with major platforms like Shopify, WooCommerce, and Magento, and multi-currency settlement in 20+ currencies. PayPal is also a familiar option for consumers spending online globally.

Sources

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

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

3. https://docs.stripe.com/currencies/conversions

4. https://docs.stripe.com/payouts/multicurrency-settlement

5. https://stripe.com/au/pricing/local-payment-methods

6. https://www.adyen.com/online-payments

7. https://www.adyen.com/pricing

8. https://docs.adyen.com/account/supported-currencies/

9. https://www.paypal.com/au/enterprise/payment-methods  

10. https://www.paypal.com/au/webapps/mpp/merchant-fees