Stripe vs Airwallex: compare on fees, features and benefits

If you run an eCommerce business, you'll need an online payment gateway in order to accept credit and debit card payments from customers. Both Stripe and Airwallex offer payment gateways that plug into your eCommerce store, but which solution is right for your business? Read on to find out how Airwallex compares against Stripe on price, features and benefits. 

What is Stripe?

First things first — what is Stripe?

Stripe is a payments-technology company that provides businesses with a platform to accept payments from customers.

Stripe offers an online payment gateway and point-of-sale (POS) system for brick-and-mortar retailers to accept in-person payments for eCommerce businesses to accept credit and debit card payments online. Mobile wallet payments and “buy now, pay later” services are also available through Stripe.

What is Airwallex?

Airwallex is a one-stop solution for more efficient and cost-effective global money management. The Airwallex payment gateway integrates seamlessly with Shopify, WooCommerce and Magento and enables eCommerce businesses to settle in multiple currencies 'like-for-like' into a Global Account.

This means your business can collect online payments from domestic and international customers in their local currency, hold funds in your Airwallex account, and use those funds to pay out to international suppliers using Airwallex Borderless Cards and high-speed Transfers, all whilst avoiding costly currency conversions. If you do wish to convert currencies, you'll benefit from near-interbank exchange rates.

Compare Stripe with Airwallex 

Use our comparison table to see how Stripe measures up against Airwallex on fees, features and benefits:

Stripe fees explained

Stripe charges a fee for each successful credit or debit card transaction.

Stripe fees vary depending on whether the card your customer uses to pay is domestic, non-domestic but within the EEA (European Economic Area), or international (outside the EEA). 

In addition to their transaction fees, Stripe charges a 2% FX fee if you wish to convert foreign currencies to your domestic currency.

Airwallex fees explained

Like Stripe, Airwallex charges a per transaction fee for successful credit and debit card payments, and fees vary depending on whether your customers pay with a UK card, EEA card or international card.

Airwallex supports businesses that operate globally by allowing you to eliminate costly currency conversion fees with like-for-like settlement. If you do wish to convert currencies, Airwallex offers market-leading FX rates of just 0.5 - 1%. 

Airwallex Global Accounts explained

Airwallex Global Accounts allow you to collect, hold and send multiple currencies without converting funds to your home currency. For example, if your business has US customers, you can collect payment in USD, hold the USD in your account, then use those funds to pay for expenses such as SaaS subscriptions and supply chain costs without being subject to FX fees. 

You can transfer funds from your account to 150+ countries and regions, or pay out using your borderless debit cards.

Use Airwallex for more streamlined global money management

Airwallex integrates seamlessly with eCommerce platforms such as Shopify, WooCommerce and Magento. Once set up, you can accept customer payments from 180+ countries and regions directly into your Global Account. 

Airwallex multi-currency settlement allows you to accept foreign currency payments without auto-converting to your home currency, saving you money on each international transaction. If you do wish to convert your funds, you can take advantage of Airwallex’s low FX rates.

The benefits of Airwallex's online payment gateway include:

• Accept payments from 180+ countries and regions and 160+ payment methods.

• Settle like-for-like in 12+ currencies directly into your Global Account. Avoid double conversions and hedge against currency fluctuations.  

• Make use of a mulit-entity account structure so you can manage your sub-brands with a central, consolidated group dashboard view.

• Pay out to suppliers and staff in multiple currencies from your multi-currency account, avoiding FX fees by repurposing the funds you collect in the same currency. 

• Enjoy competitive FX rates — just 0.5 to 1% above the interbank exchange rate.

• Choose from flexible integration options, ranging from a simple plug-and-play solution to a fully customisable checkout.

• Reduce chargebacks and improve payment acceptance rates with our pre-chargeback program and smart retry logic.  

• Protect against fraud with our 3DS fraud engine.

• Enjoy the benefits of Airwallex’s full product suite, including Global Accounts, multi-currency digital Wallet, Borderless Cards, end-to-end expense management including software to manage expenses, employee reimbursements, and invoices, faster and cheaper global transfers and embedded finance.

• Integrate with your accounting software for easy reconciliation, including Xero, QuickBooks, NetSuite and more.

• Integrate Airwallex with Shopify, Magento and WooCommerce and save on FX.

The benefits of Stripe’s online payment gateway include:

• Get paid globally in 135+ currencies and dozens of payment methods.

• Flexible integration options, from hosted payment pages to fully customisable flows.

• Protect your business from fraud and increase authorisation rates on every payment using Stripe’s machine learning and data from millions of businesses.

• Create customisable invoices to accept recurring or one-off payments.

• Stripe’s full stack of products and services includes online payments, billing, invoicing, point of sale and embedded finance.

Final thoughts

UK eCommerce companies can save money while growing their businesses at home and abroad by signing up for a Airwallex business account.