Guide to the top Stripe alternatives in New Zealand

Key takeaways

• Stripe is a widely used payment gateway, but its international card fees and FX mark-ups can make it costly if you trade globally or hold revenue in foreign currencies.

• The top alternatives to Stripe for New Zealand businesses include Airwallex, eWay, Windcave, PayPal, GoCardless, and Adyen.

• Modern fintech platforms like Airwallex go beyond a standard payment gateway, bringing multi-currency accounts, near-interbank FX rates, and global payment processing into one platform. You can manage everything in one place as your ambitions grow.

Stripe is a payment gateway – a service that processes card payments between a buyer and your business. It's a common starting point for New Zealand businesses selling online: quick to set up, well-documented, and compatible with most eCommerce platforms.

But, as you grow and start selling internationally, you may find limitations to Stripe’s platform. Here, we'll walk you through the top Stripe alternatives available in New Zealand covering fees, key features, and which option makes sense for your set-up.

Why New Zealand businesses look for Stripe alternatives

The most common reason you'd start looking for Stripe alternatives is cost ≠ specifically, what happens to your margins when payments cross borders.

If you're regularly receiving payments from overseas customers or converting foreign currency into NZD, here's where Stripe's fees tend to sting:

• International card fees: Stripe charges a higher rate for cards issued outside New Zealand, which adds up fast if your customers are paying in USD, AUD, or GBP.

• FX mark-ups: When Stripe converts one currency to another, it adds a percentage on top of the interbank rate (the rate banks use with each other). That margin comes straight out of your revenue on every cross-border sale.

• Cost at scale: Flat-rate percentage fees become a bigger ongoing cost as your volume grows.

The top alternatives to Stripe in New Zealand

If you're ready to move beyond Stripe, these six providers offer different strengths depending on whether you're a high-volume exporter, a local boutique, or an enterprise-level operation.

1. Airwallex: A global financial platform that provides multi-currency settlement and local banking details, removing forced conversion fees. We are an all-in-one platform that lets your business scale with Corporate Cards, a Global Account, Yield, FX, and more.

2. Windcave: A New Zealand-based platform that specialises in omnichannel payments, making it a choice for your business if you need to bridge the gap between your website and physical store.

3. eWay: Known for local customer service and transparent, flat-rate transaction pricing.

4. Adyen: An option for enterprise businesses that need to unify online, in-app, and in-person payments globally.

5. GoCardless: A specialist in bank-to-bank direct debits, ideal for service-based businesses or those with recurring subscriptions.

6. PayPal: A recognised brand that can boost checkout conversion rates, though often at a higher price point.

Top Stripe alternatives for New Zealand businesses

There's no single best Stripe alternative the right fit for you depends on your set-up, on your transaction mix, whether you sell internationally, and how much technical set-up you're willing to take on.

Here's how the main options compare at a glance:

In-depth: Features of the top alternatives

Airwallex

Airwallex is not just a payment gateway; it is a comprehensive financial platform designed for the modern global business. While Stripe processes a payment and immediately pushes it toward your bank, Airwallex allows you to hold that payment in a multi-currency Global Account. These accounts come with local bank details in 21 countries, meaning you can collect US$ like a local and keep it as US$.

When you do need to convert funds to pay for local expenses, Airwallex uses near-interbank FX rates, which are significantly more competitive than traditional bank or processor rates.

Pros

• Avoid forced conversion: Settle and hold foreign currency in Global Accounts without being forced to convert it. Low FX costs: Access near-interbank rates for cross-border transfers.

• Seamless integration: Native plugins for Shopify, WooCommerce, Magento, and BigCommerce.

• Native features: Built-in support for subscriptions, invoices, and payment links.

• Security: High-level compliance, including PCI DSS Level 1 and SOC 1/SOC 2.

Cons

• Physical POS launching soon: Currently best suited for online-only businesses as physical hardware is not yet available in NZ.

PayPal

PayPal remains one of the most trusted names in digital payments. For many Kiwi consumers, seeing the PayPal logo at checkout provides a sense of security that can lead to higher conversion rates. It is fast to set up and requires low technical knowledge.

However, this convenience comes at a price. PayPal’s transaction and FX fees are high.

Pros

• Consumer trust: High recognition can lift conversion for direct-to-consumer brands.

• Simplicity: Fast setup with wide integration across major eCommerce platforms.

Cons

• High fees: Significantly more expensive for FX conversion than specialist platforms.

• API limitations: Less flexible for developers compared to Stripe or Airwallex.

Adyen

Adyen is built for enterprise businesses who manage high-volume transactions. It provides a unified platform that connects online, in-store, and mobile payments globally.

Adyen uses an Interchange++ pricing model. You pay what is charged by the card networks (Visa/Mastercard) plus a small margin. 

Pros

• Unified commerce: A single view of all payment channels.

• Fraud protection: Industry-leading built-in fraud detection tools.

• Global reach: Massive scale across global currencies.

Cons

• Setup: May require more technical and legal resources for onboarding.

Windcave

If you are a New Zealand business that needs a reliable partner for both your website and your physical storefront, Windcave is an option. Operating in over 40 countries, it offers the local NZD settlement and local support that many Kiwi owners value.

Pros

• Omnichannel: Seamlessly supports both online and in-person payment acceptance.

• Local focus: Reliable NZD settlement and local support teams.

Cons

• FX limitations: Not primarily built for multi-currency holding or cross-border optimisation.

• Scale costs: Less suited for businesses trying to save on FX at a global scale.

GoCardless

GoCardless takes a different approach by focusing on bank-to-bank direct debits. It is a choice for NZ service providers or SaaS companies that want to automate their recurring billing and avoid the high fees associated with credit card networks.

Pros

• GoCardless has lower processing fees than other platforms processing card transactions

• Bank accounts don’t “expire” like cards, so it reduces churn

• Xero and Quickbooks integration

Cons

• The platform is limited as you can only accept direct debit payments

• Limited multi-currency support: you can collect from 30+ countries, but funds are converted to your home currency and you can’t hold foreign-currency balances

How Airwallex compares with Stripe

When deciding between Airwallex and Stripe, the choice usually comes down to where your customers are and how you want to manage your cash flow.

Here's why Airwallex is the right Stripe alternative

By now, you've seen how Airwallex compares across fees, FX, and features. Here's what those differences actually mean in practice:

• Receiving payments from overseas customers: When a US customer pays in USD, you can hold those funds in a USD Global Account rather than converting them immediately — so you're not forced to give up money to conversion fees on every inbound payment.

• Paying overseas suppliers: Send payments in the supplier's local currency via FX & Transfers at near-interbank rates, rather than paying the mark-up that would otherwise apply on the conversion.

• Running a multi-currency eCommerce store: Display prices in customers' local currencies at checkout using Airwallex's Checkout product, and settle in the same currency to avoid forced conversion on every sale.

• Managing business spend globally: Issue Corporate Cards in the currencies your team actually spends in, so transactions don't trigger FX conversions on every purchase.

Frequently asked questions

Is Airwallex a cheaper alternative to Stripe for NZ businesses receiving international payments?

If you're regularly converting foreign currency, Airwallex can reduce your per-transaction costs by keeping FX mark-ups low and letting you hold foreign currency in Global Accounts rather than converting every inbound payment immediately. If your sales are mostly domestic, the cost difference between Stripe and its alternatives will be smaller.

What is a multi-currency payment gateway and when do NZ businesses need one?

A multi-currency payment gateway is a payment platform that accepts and processes payments in more than one currency, often without forcing an immediate conversion to your home currency. It's worth considering if you're selling to customers in multiple countries and want to avoid paying conversion fees on every transaction.

What is Stripe Connect and which platforms offer a comparable alternative for NZ marketplaces?

Stripe Connect is Stripe's product that lets platforms and marketplaces split or route payments across multiple sellers or service providers – for example, a marketplace paying out to dozens of vendors from a single checkout. If you're building a custom marketplace payment flow in New Zealand, both Airwallex and Braintree offer comparable API-based solutions.

Can NZ Shopify merchants use a Stripe alternative without losing native checkout features?

Yes – Shopify Payments is available in New Zealand as a built-in alternative, so you won't need a third-party gateway. And if you're on Shopify, Airwallex's Payment Plug-ins are fully compatible too.

Is Wise Business a direct replacement for Stripe for NZ businesses?

No – Wise Business doesn't offer a checkout product or subscription billing, so it can't replace Stripe as a primary payment acceptance tool. It works best alongside a payment gateway, helping you manage incoming foreign currency and reduce FX conversion costs on transfers.

What should NZ businesses check before switching from Stripe to another payment platform?

Before switching, check NZ availability, compatibility with your eCommerce platform, international card and FX fees, whether you need subscription billing, and whether the provider's API suits your technical set-up. Most providers offer a free account or demo, so you can test before committing.

Sources

1. https://eway.io/nz/online-payments/

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

3. https://www.windcave.com/support-merchant-frequently-asked-questions-merchant-faq#MultiCurrency

4. https://www.windcave.com/online-payments 

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

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.