PayPal vs Airwallex: Features, fees and alternatives

With more Australian businesses earning and spending internationally, there’s an onus on getting the right systems in place to manage different currencies and keep costs in check. Two of the most compelling payment providers to achieve this aim in 2026 are Airwallex and PayPal.

This blog will define the core USPs and target audiences for each platform, and then go into detail, comparing PayPal vs Airwallex directly on features and fees, so you can see what’s the best fit.

We’ll also introduce Wise Business – an alternative multi-currency account you can use for low-cost international banking.

What is PayPal

PayPal is a popular online payment platform that gives businesses a way to send and receive money from customers in Australia and overseas. It’s used by companies of all sizes, but PayPal offers dedicated products specifically for ‘solopreneurs’ and small businesses¹. These make it easy to jump in and accept and process transactions, create invoices, and sell online and in-person.

One big advantage PayPal has is brand recognition with 400+ million active accounts worldwide, so many customers are already familiar with the checkout experience¹. For startups and micro businesses, this helps to build trust and reduce hassle during purchases.

PayPal’s key features allow you to:

• Use pre-built checkouts to convert customers in 200+ markets²
• Make fast, secure global payouts to 95+ markets in 23+ currencies³
• Create customised invoices and payment links to send in emails, SMS, social media apps, and more⁴
• Use a full data and analytics suite to track sales and generate reports⁵

What is Airwallex

Airwallex is a fully fledged financial tech platform designed to help businesses manage global finances, processing $287 billion+ in payments each year⁶. It brings together five core products – Business Accounts, Spend, Payments, Billing, and Platform APIs – into a single account, so businesses in Australia can move money internationally and manage multiple currencies, while streamlining their financial operations⁶.

Airwallex’s key features enable you to:

• Open local currency accounts to receive funds globally through multi-currency Global Accounts⁷
• Send funds to more than 200 countries and manage FX in 60+ currencies, with fast international transfer⁹
• Issue multi-currency corporate cards for teams with built-in controls and real-time tracking⁹
• Handle all business spending through expense management, bill pay, and purchase order workflows¹⁰

PayPal vs Airwallex: Feature comparison

While Airwallex is more enterprise-oriented compared to PayPal, there is quite a bit of overlap in what’s offered. You can use both platforms to make and receive payments, for example, though the scope and depth of features often vary. Below is a table to give you a better idea of how the headline features compare.

Now we’ll look at five capabilities in more detail, providing a head-to-head comparison, starting with how simple it is to sign up and begin using the service.

Ease of setup

Getting started with PayPal is quite straightforward for smaller businesses – it only takes a “couple of minutes”¹¹. All you need to do is create a login (new account) by inputting a few details, including your business registration number, and then link it to your bank account to start taking payments, both online or in-store¹¹.

There are more eligibility requirements for Airwallex. You’ll need an active Australian Business Number (ABN), and both you and other connected individuals (such as directors) must complete verification using valid ID documents like a passport¹². Airwallex also notes that to “understand the nature” of your business activities, it will also request bank statements, audits, tax returns, and other records.

Global coverage

PayPal is built for global business: you can accept payments from 200+ markets in 130 currencies¹³. The standard PayPal Payouts for making transfers support 95+ markets and 23+ currencies, with Enterprise Payouts, targeted at larger marketplaces and corporations, upping the ante to 200+ markets and 50+ currencies³.

Airwallex’s main differentiator is a multi-currency account that lets you send money to 200+ countries⁸, as well as create local account details in 70+ countries and 20+ currencies, so you can hold money instead of instantly converting it to AUD⁷. Meanwhile, general payment acceptance spans 180+ countries via 160+ local payment methods¹⁴.

Expense management

Airwallex has Expense Management as one of its sub-services within the Spend category. This gives teams the tools to sort and categorise all cards, receipts, and reimbursements, with a handy ‘AI policy agent’ to check and automate every submission¹⁰. It also ties neatly into Airwallex’s corporate cards, letting you set spend rules and limits (and approve purchases) while keeping all expenses in one workflow.

The approach is more limited on PayPal. Rather than offering built-in expense management, it provides reporting tools, so businesses can track transactions and monitor sales from the main dashboard⁵. Companies looking for more in-depth employee oversight and approval workflows will likely need to use third-party platforms.

Debit cards

Airwallex’s corporate cards offering is extensive – you can create multi-currency Visa cards “in minutes” and then track every transaction in real time from a single dashboard⁹. They’re also built for global use. Your employees can pay online or in-store anywhere Visa is accepted, without the usual bank markups, thanks to Airwallex’s multi-currency balances and competitive rates.

In contrast, PayPal doesn’t offer a business debit card in the Australian market, so you’ll have to make do with purchasing everything through your PayPal account.

Integrations

Airwallex offers integrations across four categories: accounting, productivity, marketing and sales, and e-commerce¹⁸. You can simplify bookkeeping and reconciliation by connecting six apps, including Xero and Sage, and plug directly into platforms like Amazon. Airwallex also provides a full Platform & APIs suite for developers, who can wield its tools to embed payments, accounts, FX, and card issuing into a company’s own product¹⁹.

PayPal’s integrations are more centred on the checkout experience, with integrations for the most popular ecommerce platforms, which will be useful if you already have an online store. A couple of options here include WooCommerce and Shopify²⁰. There are also ‘Developer’ resources to configure advanced checkouts.

PayPal vs Airwallex: Fee comparison

Now, let’s look at the fees for both providers. Airwallex uses a subscription model with monthly fees starting from $29 per month (waived when depositing $5,000 AUD or holding a $10,000+ AUD balance) across three plans: Explore, Grow, and Accelerate²¹. There’s also a per-transaction fee for payment acceptance.

PayPal keeps things simpler with no monthly fees and a fixed rate for domestic transactions in Australia and international transactions¹⁸. Here’s an overview comparing Airwallex vs PayPal directly across the most relevant fees.

Considerations when choosing a solution for global finances

Before making a final decision, it’s useful to take stock of your current circumstances and operations to find the right payment provider. A few factors you should consider include:

• What services you need - Are you just receiving payments from online customers, or do you need tools to pay suppliers, hire overseas, and mix-and-match currencies?
• The total cost - Transaction fees are the headline rate, but always run through all the potential fees, including FX markups and monthly charges, to get an idea of the full cost of using a service.
• Where you do business - Check the countries and currencies you operate in are supported, especially if you rely on anything outside the major ones like NZD, HKD, and PHP.
• How you get paid - Support for payment methods also varies by provider, so make sure you can offer the right mix (cards, Apple Pay, BNPL, etc.) based on what’s convenient for you and your customers.
• Day-to-day efficiency - Features like multi-user access and integrations can save time and make it easier to scale as you grow. Also, see if any essential features are limited to specific accounts or subscription tiers.
• Managing multiple currencies - If you regularly earn or spend money overseas in different currencies, you’ll likely benefit from an account where you can manage everything in one place.

Wise Business: Alternative solution for global finances

Wise Business is an all-in-one alternative for cross-border finances, with no monthly fees and upfront, transparent pricing. You get access to account details in 22+ currencies, allowing businesses to have control over the flow of funds.

What's more is that currency conversions also occur at the mid-market exchange rate with no hidden markups. This enables businesses to pay overseas suppliers, invoice global clients, and issue multi-currency debit cards without losing much on cross-border transfers.

A Wise Business account allows users to send, receive, and hold in multiple currencies. Experience hassle-free global transactions by transacting like a local business. Here's what you get with a Wise Business account:

• Free to register — Hold and convert between 40+ currencies. Send to 140+ countries
• Debit cards for you and your team, which you can use in 150+ countries
• Multi-user access for team members, with ways to control and manage permissions
• Pay up to 1,000 recipients at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions like Xero, QuickBooks, and more
• Get account details to receive in 8+ currencies for a one-time fee of 65 AUD
• Earn potential returns** on your everyday money through Wise Interest

Sign up for the Wise Business account! 🚀

This general advice does not take into account your objectives, financial circumstances or needs and you should consider if it is appropriate for you.
**Capital at risk, growth not guaranteed. Interest is the name of a custody and nominee service provided by Wise Australia Investments Pty Ltd in partnership with Franklin Templeton.

Source:

1. PayPal AU - Business
2. PayPal AU - Online checkout
3. PayPal AU - Make payments
4. PayPal AU - Payment links
5. PayPal AU - Reporting tools
6. Airwallex - Home page
7. Airwallex - Global accounts
8. Airwallex - Transfers
9. Airwallex - Corporate cards
10. Airwallex - Expense management
11. PayPal AU - Open business account
12. Airwallex - Documents required for companies in Australia
13. PayPal AU - Accept payments
14. Airwallex - Checkout
15. PayPal - Invoice
16. Airwallex - Invoicing
17. Airwallex - Payment links
18. Airwallex AU - Integrations
19. Airwallex - Platform APIs and embedded finance
20. PayPal AU - Checkout integrations
21. Airwallex AU - Pricing
22. PayPal AU - Business fees