Stripe vs Airwallex: compare on fees, features and benefits

Tilly Michell
5 minutes
Business tipsE-commerce
Stripe vs Airwallex: compare on fees, features and benefits
In this article

If your business sells products or services online, you'll need a payment gateway to accept credit and debit card payments from customers. Both Stripe and Airwallex offer payment gateways that can plug into your eCommerce store, but which solution is right for your business? 

Read on to find out how Airwallex compares to Stripe on price, features and benefits. 

What is Stripe?

First things first — what is Stripe?

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

Stripe offers a point-of-sale (POS) system for brick-and-mortar retailers to accept in-person payments, and a payment gateway 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 cheaper and more efficient money management.

The Airwallex online payment gateway integrates seamlessly with Shopify, WooCommerce and Magento, and offers cheaper transaction fees and better FX rates than Stripe.

Airwallex allows eCommerce businesses to settle in multiple currencies directly into a Foreign Currency Account. In practice, this means companies can collect online payments from domestic and international customers in multiple currencies, hold funds in their Airwallex account, and use those funds to pay out to suppliers, avoiding conversion fees.

Airwallex also offers Virtual Cards, end-to-end expense management, and fast money transfers to over 130 countries.

Compare Stripe with Airwallex 

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

Table comparing the Stripe and Airwallex online payment gateway on fees, FX rates, features and benefits

Stripe fees explained

Stripe charges a per-transaction fee for each successful credit or debit card payment your customers make. 

Stripe fees vary based on whether the card used is domestic or international. Stripe international fees are more than 1% higher, with currency conversion adding an additional 2%.

How much does Stripe charge per transaction?

See the table below for the Stripe fees Australia-based businesses can expect.

Stripe fees (Australia)

Stripe’s international fees explained

Stripe charges 2.9% plus an additional AUD 0.30 for each successful international transaction. Stripe international fees also increase by 2% if currency conversion is involved. This brings the total for international transactions with currency conversion to 4.9% plus AUD 0.30.

💰 Money-saving tip: Reduce unnecessary conversions and fees on transactions with the option to collect and settle in the same currency using Airwallex. Plus, pay only a 0.3% or 0.6% FX margin above the interbank exchange rate, depending on the currency.

Do Stripe fees have GST?

A final fee to be aware of is the Goods and Services Tax (GST). GST is included in Stripe’s payment, foreign exchange, and dispute fees for users in Australia (as well as any other country that collects GST). The current GST rate is 10%.

Airwallex fees explained

Airwallex also charges a per-transaction fee for successful credit and debit card payments.

Airwallex is cheaper than Stripe for domestic transactions, and our competitive FX rates make processing international payments cheaper too.   

How much does Airwallex charge per transaction?

See the table below for a breakdown of Airwallex Online Payment fees. 

Table showing Airwallex payment gateway fees in Australia

Airwallex international fees explained

Airwallex international transaction fees are in line with Stripe. However, our FX fees are more than 50% lower, at just 0.3 - 0.6%. 

This means that you can accept payment from international customers in their local currency and convert your funds back to AUD without excessive fees. Allowing you to tap into new markets and grow your business internationally without narrowing your profit margins.   

Airwallex Global Accounts explained

Airwallex Global Accounts allow you to settle in multiple currencies without converting funds to AUD. 

For example, if your business has US customers, you can collect payment in dollars, hold those dollars in your account, then use them to pay for expenses (such as SaaS subscriptions and Google adverts) without being subject to FX fees. 

You can transfer funds from your account to over 130 countries, or pay out using Borderless Cards.

Use Airwallex as a Stripe alternative for cheaper payment acceptance

The Airwallex online payment gateway makes accepting domestic and international payments easier and more affordable than Stripe. 

Airwallex's plug-and-play extension integrates seamlessly with eCommerce platforms such as Shopify, WooCommerce and Magento. Once set up, you can accept customer payments in 170+ currencies directly into yourGlobal Account. 

Airwallex multi-currency settlement allows you to accept foreign currency payments without auto-converting to AUD, saving you 2% on each international transaction vs Stripe. 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:

  • Pay less for domestic payment acceptance vs Stripe.

  • Accept card and alternative payment methods in over 170 currencies.

  • Settle payments in eight major international currencies directly into your Global Account. Avoid double conversions and hedge against currency fluctuations.  

  • Pay out to suppliers and staff in multiple currencies directly from your Global Account. 

  • Enjoy competitive FX rates — just 0.3 to 0.6% above the interbank exchange rate — as well as zero foreign transaction fees.

  • Choose from our flexible integration methods, ranging from a simple plug-and-play solution to fully customisable APIs.

  • Protect your funds and data with our 3DS fraud engine.

  • Enjoy the benefits of Airwallex’s full product suite, including end-to-end expense management and faster and cheaper transfers. 

Final thoughts

Australian eCommerce companies can save money while growing their businesses at home and abroad by signing up for a free Airwallex business account. That translates to better profit margins for your business, and thousands of dollars back in your pocket.

Sign up free today to learn more.

Related article: A Guide to Multi-currency Payment Gateways

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Tilly Michell
Content Marketing Manager

Tilly manages the content strategy for Airwallex. She specialises in content that supports businesses in their growth trajectory.

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