Guide to the top PayPal alternatives in New Zealand

Key takeaways

• PayPal is widely recognised and easy to set up, but it does not suit all New Zealand businesses. Those that trade internationally may find it expensive because of its currency conversion mark-ups and additional fees on cross-border transactions.

• There are several strong PayPal alternatives for NZ businesses, including Airwallex, Stripe, Payoneer, Windcave, and Adyen – each suited to different needs such as accepting payments online, sending international transfers, or managing in-person sales.

• If you deal in foreign currencies regularly, fintech platforms like Airwallex can go further than payment processing alone, offering multi-currency accounts, competitive foreign exchange (FX) rates, Corporate Cards, and Expense Management in one place.

If you're running a business in New Zealand and selling to customers overseas, or paying suppliers in other countries, you've probably used PayPal at some point. It's familiar, widely accepted, and easy to get started with. But, as your business grows and your international transactions increase, the costs and limitations start to add up. In this guide, we’ll walk through the top PayPal alternatives for NZ businesses – what each one does well, and how to figure out the right fit for you.

What is PayPal?

PayPal is an online payment service that lets you send and receive money, accept card payments, and issue invoices, all without sharing bank account details directly. A customer pays at checkout using their PayPal account or card, the funds land in your PayPal balance, and you transfer them to your bank when you're ready.

It works across many countries and supports multiple currencies, which is part of why it became so widely adopted. If you run an eCommerce store or work as a freelancer, PayPal's brand recognition at checkout can help build trust with buyers who already have an account.

Why do New Zealand businesses look for PayPal alternatives?

PayPal works well for straightforward transactions, but if you sell internationally or manage foreign currencies regularly, you'll often run into real costs. Here's where the friction tends to show up:

• International transaction fees: On top of standard processing fees, PayPal charges additional fees of 3–4% for cross-border payments. For NZ businesses that regularly receive international revenue or pay overseas, these costs compound quickly.

• Automatic currency conversion: PayPal often converts funds automatically when you receive a payment in a foreign currency, rather than letting you hold that currency and convert later. If you withdraw or send those funds in NZD, PayPal converts them automatically at its own exchange rate, which includes a 3–4% currency conversion fee for many currencies.

• Limited financial tools: PayPal doesn’t offer local multi-currency business accounts with bank details in each market, or integrated corporate cards and expense management, so you’ll typically need extra tools as you scale.

What are the top PayPal alternatives for NZ businesses?

There's no single ‘best’ alternative – the right choice depends on what you actually need. Some platforms focus on accepting payments from customers; others are built for sending money internationally or managing company spend.

Here's a quick overview of the main options:

• Airwallex: A global, all-in-one financial platform that combines multi-currency accounts, competitive FX rates, payment acceptance, Corporate Cards, and Expense Management – built for global businesses.

• Stripe: A developer-friendly payment processor that supports a wide range of payment methods and currencies, popular with eCommerce businesses.

• Payoneer: A global payments platform suited to freelancers and businesses that regularly make or receive international payouts, particularly through global marketplaces.

• Windcave: A New Zealand–based payment gateway and point-of-sale (POS) payments provider that supports in-person and online card payments for local businesses.

• Adyen: An enterprise-grade payment platform with broad payment method coverage across many countries, suited to larger businesses with complex needs.

How do PayPal alternatives compare?

Here's a side-by-side look at how the main options compare across the features that matter most to you if you're trading internationally.

If you're primarily selling to NZ customers and don't deal in foreign currencies often, PayPal may still be a reasonable fit. But, if you're collecting revenue in USD, GBP, or EUR – or paying overseas suppliers regularly – the FX mark-up alone can make a meaningful difference to what you actually keep.

In-depth: The top PayPal competitors reviewed

Each platform has a different focus, so it's worth understanding what you're comparing before you decide. The sections below break down what each option does, what it costs, and where it falls short.

Airwallex

Airwallex is more than a payment processor – it's a financial platform built for you if you operate across borders. If you're collecting revenue in US dollars, paying suppliers in euros, and managing a team that spends in multiple currencies, our platform lets you do all of that from one place without converting everything back to NZD at every step.

If you're running a Shopify store and selling to customers in the US, UK, or Australia, here's what that looks like in practice:

• Global Accounts: Hold funds in multiple currencies with local bank details, so overseas customers can pay you as if you were a local entity in their country – no forced conversion when the money arrives.

• FX & Transfers: Send money overseas at interbank-level exchange rates with a transparent markup of between 0.5%–1%.

• Checkout, Payment Links, and Payment Plugins: Accept payments online through your existing eCommerce setup, including plugins for Shopify, WooCommerce, Magento, and BigCommerce.

• Corporate Cards and Expense Management: Issue cards to team members, set spending limits, and track expenses across your business in one place.

• Payouts: Pay overseas suppliers and staff directly from your multi-currency balances, so you're not converting funds unnecessarily before sending.

Fees: Domestic card processing starts at 2.60% + NZ$0.30; international cards at 3.60% + NZ$0.30. FX conversions use interbank rates with a small margin. No monthly account fee for the standard plan.

Stripe

Stripe is a payment processor built with developers in mind. Its strength is flexibility – you can use a hosted checkout page out of the box, or build a fully custom payment experience using its application programming interface (API). This means your checkout can connect to your existing tools without rebuilding anything.

Stripe is a choice if you want control over how your checkout looks and behaves, with plugins for Shopify, WooCommerce, Magento, and BigCommerce. Here's the catch, though. Stripe doesn't offer a multi-currency account, so funds settle to your bank in NZD, and there are no corporate cards or expense management tools.

Fees: Domestic cards at 2.65% + NZ$0.30; international cards at 3.50% + NZ$0.30; an additional 2% fee applies for currency conversion.

Payoneer

Payoneer is a global payments platform that's particularly useful if your clients or the platforms you sell through already use it. It's widely accepted by global marketplaces like Amazon, Upwork, and Fiverr, making it practical if you receive payments from those platforms regularly. You can withdraw funds to a local NZ bank account and pay contractors in different countries.

Here's the catch. Fees for credit card transactions are higher than bank transfer options, and some elements of the pricing can be complicated and expensive. Payoneer offers a business card for spending from your Payoneer balance, but it doesn’t include integrated expense management.

Fees: Receiving payments from other Payoneer users is free; receiving via credit card incurs a fee of up to 3.99%; bank withdrawal fees apply and vary by currency.

Windcave

Windcave is a New Zealand–based payment gateway — it's a practical option if you want a local provider with established relationships in the domestic market, particularly if you need reliable card acceptance through your website or at the point of sale.

Windcave integrates with popular eCommerce platforms including Shopify and WooCommerce, and supports in-person payments via POS integrations and payment terminals. But, it doesn't provide multi-currency accounts or the ability to hold and convert foreign currencies, so you'll need separate tools for FX, cards, and expenses.

Fees: Pricing is typically quote-based depending on your business size, transaction volumes, and set-up. Contact Windcave directly for current rates.

Adyen

Adyen is an enterprise-grade payment platform used by large global businesses. It supports a broad range of payment methods across many countries and offers unified reporting across online and in-person channels. Pricing differs depending on the payment method used, with a NZ$0.11 processing fee also applying. For most card transactions, Adyen uses an Interchange++ model — meaning you pay the interchange rate set by card networks like Visa or Mastercard. The total cost varies depending on the card used, which makes it harder to predict for smaller businesses.

Adyen can be complex to set up and better suited to you if you have dedicated technical and payments teams. Minimum monthly invoice requirements may also rule it out if you're a smaller or early-stage business.

Fees: NZ$0.11 + interchange++ pricing – interchange rate (set by card networks). Minimum monthly invoice requirements apply.

Why Kiwi businesses choose Airwallex

By this point, you've seen how Airwallex compares across fees, features, and use cases. What tends to bring you to Airwallex specifically is the combination of things that are hard to find in one place elsewhere: competitive FX rates, multi-currency accounts, payment acceptance, and spend management – without needing to stitch together multiple tools.

Here's where it tends to make the most difference:

• If you're an eCommerce business selling internationally: Collect payments in USD, GBP, or AUD via Checkout or Payment Plugins, hold the funds in a Global Account, and convert to NZD when the rate works for you – rather than converting automatically at the moment of each sale.

• If you're paying overseas suppliers or staff: FX & Transfers lets you send money internationally at interbank-level rates. If you're paying a supplier in USD or EUR each month, the potential savings compared to PayPal's conversion mark-up can add up quickly.

• If your team is growing and managing company spend: Corporate Cards and Expense Management mean you can issue cards to team members, set limits, and see exactly where money is going – all within the same platform you use for payments and FX.

If you're looking to grow globally without the complexity of managing multiple tools, Airwallex could be a strong fit. Ready to bring your payments, FX, and spend management under one roof? Get started with Airwallex today.

Frequently asked questions

Can NZ businesses use Airwallex and still offer PayPal at checkout?

Yes – switching your primary payment platform to Airwallex doesn't mean removing PayPal from your checkout. You can still offer PayPal alongside other payment methods, giving your customers the choice.

Does Airwallex or Stripe work better with Shopify for NZ businesses selling internationally?

Both integrate with Shopify via Payment Plugins, but the key difference is that Airwallex lets you hold foreign currency collected at checkout in a Global Account, whereas Stripe settles funds to your bank in NZD. If you're regularly collecting USD or AUD from overseas customers, Airwallex means you're not converting every sale the moment it lands.

What is a multi-currency account, and does a NZ business need one?

A multi-currency account lets you hold money in different currencies in one place – think of it like having separate wallets for NZD, USD, and GBP, rather than converting everything back to NZD each time money arrives. It's worth having if you regularly receive international revenue or pay overseas suppliers, because it means you can convert currency when the rate suits you, not just whenever a payment lands.

Is Wise Business or Airwallex better for paying overseas suppliers from New Zealand?

Wise Business works well if your main need is sending money internationally at transparent FX rates. Airwallex can be a better fit if you also need to accept payments from customers, issue corporate cards, and manage expenses on the same platform – so the right choice depends on how much of your finances you want to manage in one place.

Sources

1. https://www.adyen.com/pricing 

2. https://www.paypal.com/nz/business/paypal-business-fees 

3. https://stripe.com/nz/pricing 

4. https://www.payoneer.com/about/pricing/ 

5. https://www.payoneer.com/get-paid-by-clients/payment-request/

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]]. Airwallex (New Zealand) Limited is registered with the New Zealand Financial Service Provider Register (FSP No. 1001602) to provide a range of financial services in New Zealand.