Stripe vs Airwallex in Malaysia: Fees, features & comparison (2026)

Key Takeaways:

• Stripe is a strong choice for online payments and billing, with a wide range of payment methods, subscription billing, and developer tools.

• Stripe has a narrower range of business finance tools in Malaysia as compared to Airwallex, with no comparable corporate card, expense management, or international transfer offering.¹

• Airwallex combines payments with multi-currency accounts, international transfers, corporate cards and expense management. With Airwallex, you can hold 20+ currencies, transfer to 200+ countries, and issue corporate cards in 60+ markets.

Stripe vs Airwallex: if you're a Malaysian business comparing the two, you're likely asking one question: which platform gives you more for your money?

Both are credible options. Stripe is one of the most widely used payment platforms in the world, known for its developer tools.

Airwallex is a financial platform built for businesses that operate across borders, combining payment acceptance with multi-currency accounts, transfers, corporate cards, and expense management.

This guide breaks down how they compare on fees, features, and more, so you can make an informed decision for your business.

What is Stripe?

Stripe is a payment technology company that gives businesses the tools to accept payments online and in person. It's best known for its developer-friendly APIs, extensive documentation, and broad ecosystem of integrations.

Beyond payment processing, Stripe offers a wide range of products:

• Stripe Billing handles subscriptions and recurring revenue.

• Stripe Radar uses AI-powered fraud detection to help prevent fraudulent payments.

• Stripe Terminal enables in-person payments for physical and hybrid businesses.

• Stripe Atlas helps founders incorporate a company in the US.

• Stripe Capital offers financing to eligible businesses based on factors such as their payment volume and history with Stripe.

Note that Stripe Issuing and Stripe Treasury are not currently available to Malaysian businesses.¹

Stripe operates in Malaysia through Stripe Payments Malaysia Sdn Bhd, a registered non-bank merchant acquirer.²

 Information in this section is based on Stripe’s official website as of 14 Sep 2026.

What is Airwallex?

Airwallex is a financial platform built for businesses that operate across borders.

Like Stripe, it lets businesses accept online payments through major card schemes and local payment methods. It also brings multi-currency accounts, international transfers, corporate cards, expense management, and bill payments into one platform.

Airwallex is particularly useful for businesses that sell internationally, pay overseas suppliers, or receive payments in different currencies.

In Malaysia, Airwallex provides its services through locally licensed and regulated entities, including a Class A Money Services Business licence and registration as a Merchant Acquirer.

This gives Airwallex regulatory coverage across a broader range of money services than Stripe, whose Malaysian entity is registered as a non-bank Merchant Acquirer.

Stripe vs Airwallex: Overview & comparison

Stripe and Airwallex both help businesses accept payments and move money internationally.

Stripe primarily offers products for payment acceptance, billing and invoicing in Malaysia, while Airwallex combines payments with multi-currency accounts, international transfers, and business spending tools.

Here’s a quick overview:

This information is based on publicly available information accessed on 14 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

Stripe vs Airwallex: Multi-currency accounts

Airwallex lets Malaysian businesses hold 20+ currencies and provides Global Accounts for receiving payments in multiple currencies.

This can be useful for businesses that regularly receive overseas payments and want to keep funds in the original currency before converting or spending them.

Stripe supports multi-currency processing and settlement, but this feature is not available in Malaysia.³

Stripe vs Airwallex: Payment acceptance

Both Stripe and Airwallex let Malaysian businesses accept online payments through cards and local payment methods. Both also support in-person payments, so businesses can use either platform for online and offline sales.

Online payments

In Malaysia, Airwallex supports local methods including FPX, GrabPay, DuitNow, Touch 'n Go, and Boost.

Stripe supports FPX and GrabPay for Malaysian businesses, but its current payment-method documentation does not list DuitNow, Touch 'n Go, or Boost as supported payment methods.

In-person payments

Both platforms offer POS solutions for physical payments. Stripe provides Stripe Terminal, while Airwallex offers Airwallex POS, allowing businesses to accept card payments in physical locations.

Stripe vs Airwallex: International transfers

With Airwallex, you can transfer to 200+ countries. 94% of our transfers go through local rails with $0 transfer fees, and 93% of transfers arrive on the same day.

Stripe offers international transfers through Global Payouts, but Global Payouts is not available to businesses in Malaysia.⁵

Stripe vs Airwallex: Billing and invoicing

Both Stripe and Airwallex offer tools for managing recurring billing and invoices, including subscriptions, invoicing, and usage-based billing.

For businesses that mainly need billing and payment collection, either platform can cover these requirements.

Stripe vs Airwallex: Corporate cards and expense management

Airwallex provides corporate cards and expense management tools for Malaysian businesses. Businesses can issue physical and virtual cards to employees, set spending controls, and manage company expenses from the Airwallex platform.

Stripe does not offer a comparable business card or expense management product for Malaysian businesses.

While Stripe Issuing provides card-issuing infrastructure and APIs that businesses can use to build their own card programmes, this is not the same as a ready-made corporate card and expense management solution. Stripe Issuing is also not available in Malaysia.

Stripe vs Airwallex: Fees in Malaysia

Stripe and Airwallex both charge no setup fees and no monthly fees, but their transaction and usage fees vary quite a bit. Here’s an overview:

This information is based on publicly available information accessed on 14 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

Airwallex is more affordable than Stripe for domestic and international card payments, as well as currency conversion.

The difference is particularly notable for currency conversion, where Airwallex charges 0.4% to 0.6% compared with Stripe's 2% when conversion is required.

Case study: How Applecrumby uses Airwallex to expand across Southeast Asia

Applecrumby is a Malaysia-born baby care brand that has expanded into markets including Singapore, Thailand, Brunei, South Korea, Mongolia, the Philippines, and Vietnam.

As it grew, the company faced high payment gateway fees, expensive SWIFT transfers, and the administrative burden of managing multiple bank accounts and payment providers.

After switching to Airwallex, Applecrumby reported 0.5% lower payment gateway costs and savings of around RM100 per international. Read the full case study.

Why Malaysian businesses choose Airwallex over Stripe

Stripe and Airwallex can both support Malaysian businesses with online payments, billing, and other payment-related needs. However, Airwallex may be a better fit for businesses that need a broader set of financial tools and want to keep their costs low.

Here’s what you get with Airwallex:

More competitive pricing

Airwallex has lower published fees for domestic and international card payments in Malaysia, as well as lower FX fees as compared to Stripe.

Payments, transfers and expense management in one platform

Airwallex covers more than payment acceptance. Malaysian businesses can use it for multi-currency accounts, international transfers, corporate cards, and expense management.

In comparison, Stripe does not offer multi-currency accounts, transfers, corporate cards, or expense management in Malaysia as of the time of publication.

Frequently asked questions (FAQs)

What is the main difference between Stripe and Airwallex?

Stripe and Airwallex both offer online payment acceptance and billing tools, but Airwallex covers a broader range of business financial needs. In Malaysia, Airwallex combines payment acceptance with multi-currency accounts, international transfers, business cards, and expense management. Stripe offers payment and billing products, but does not offer comparable transfer, corporate card or expense management products for Malaysian businesses.

Does Airwallex support FPX, DuitNow, and other Malaysian payment methods?

Yes. Airwallex supports major Malaysian payment methods including FPX, DuitNow, GrabPay, and Touch 'n Go, alongside major card networks. This gives Malaysian businesses a way to accept both local and international payments through the same platform.

What is like-for-like settlement?

Like-for-like settlement means receiving a payment in the same currency the customer paid in, rather than automatically converting it to MYR. Airwallex supports like-for-like settlement, allowing Malaysian businesses to receive and hold funds in supported foreign currencies before converting or spending them. This can help businesses avoid unnecessary FX conversion when they need to keep funds in the original currency.

Can I use Stripe or Airwallex for subscription billing?

Yes. Both platforms support subscription billing, so the choice depends more on what you need around it. Stripe is well suited to businesses that primarily need payments and billing, while Airwallex combines subscription management with payment acceptance, multi-currency accounts, international transfers, and other business finance tools.

Is Airwallex regulated in Malaysia?

Yes. Airwallex (Malaysia) Sdn. Bhd. holds a Class A Money Services Business licence, is an E-Money Issuer, and is a registered merchant acquirer under Malaysia's financial services framework.

Sources:

1. https://stripe.com/en-my/treasury, https://support.stripe.com/questions/how-to-apply-for-issuing

2. https://amlcft.bnm.gov.my/web/guest/-/stripe-payments-malaysia-sdn-bhd

3. https://support.stripe.com/questions/can-i-add-a-bank-account-in-a-non-local-currency?locale=en-GB 

4. https://stripe.com/en-my/payments

5. https://stripe.com/en-my/payouts

6. https://stripe.com/en-my/pricing