Best Stripe alternatives for Australian businesses (2026)

With payment volumes exceeding $1.4T,¹ Stripe is a fintech behemoth serving digital and in-person businesses worldwide, including Australia. But big isn’t always best, especially for Aussie SMBs seeking simplicity or lower operating costs.

Whether you’re not fond of the fees or just want to evaluate your options, we’re comparing the 5 top Stripe alternatives for growing Australian businesses.

Table of contents
What is Stripe? Top 5 Stripe alternatives in Australia Airwallex PayPal Square Eway Wise Business Comparing card fees Considerations when choosing a Stripe alternative Wise Business: Manage global money with ease FAQs

Understanding Stripe

Stripe is a full-stack fintech platform and payment gateway that offers a broad range of services.

Stripe is a full-stack fintech platform and payment gateway that offers a broad range of services.

A Stripe account helps businesses receive funds via cards, digital wallets, Buy Now Pay Later (BNPL), bank-based payment methods, payment links, checkout pages, and in-person terminals. Meanwhile, Stripe financial tools support money management, billing and invoicing, tax compliance, data pipelines, revenue recognition, fraud protection, and more.²

Stripe has two plans: Standard and Custom. Australian SMBs can generally refer to the Standard plan pricing as the latter offers customizations that are better suited for high-volume businesses. Most Stripe payment fees are charged per transaction, while some advanced features and add-ons may incur monthly fees.²

Stripe isn’t a digital account where you can store money. It’s an intermediary that securely processes payments and forwards funds after taking a commission.

Given its flexible pay-as-you-go pricing structure, Stripe has a broad customer base, from e-commerce entrepreneurs to SMBs and large enterprises.

• 1.7% + A$0.30 for domestic cards
• 3.5% + A$0.30 for international cards (+ 2% for currency conversion)²

Top 5 Stripe alternatives in Australia

While Stripe has a large market share and offers a broad range of services, it may not be the right fit for every Australian business. Let’s see how some of the top competitors stack up.

Alternative	Details	Best for
Airwallex	Global multi-currency accounts, FX, payments, billing, platform APIs	Globally trading SaaS, ecommerce, marketplaces, etc.
PayPal	Large platform offering payments, rewards, redemption services, payroll, marketing, BAS, etc.	Small and large businesses seeking fast setups
Square	Primarily an in-person payment gateway, famous for simplicity and cost-effective POS systems	Small in-person businesses, especially retail and hospitality
Eway	Australian-based platform specialising in receiving online and digital payments	Local e-commerce SMBs seeking simplicity
Wise Business	Multi-currency accounts, mid-market exchange rate on international transfers, and card payments	Aussie businesses receiving foreign currency payments

Airwallex

Like Stripe, Airwallex is a full-stack fintech platform covering financial and payment gateway services. Airwallex helps businesses receive funds through checkout payment forms, payment plugins, and payment links. Other services span Airwallex corporate cards, expense management, invoicing, subscription management, and usage-based bills.³

An Airwallex business account caters to globally focused Aussies through multi-currency accounts and favourable FOREX rates. A sleek, easy-to-use interface keeps end customers happy, while its Xero integration simplifies back-end admin.

Three unique plans include a range of payment solutions and financial services for businesses of varying sizes.

• 1.65% + $0.30 for domestic cards
• 3.40% + $0.30 for international cards (+ 0.5-1% FOREX fee above interbank rates)³

👆Read here for a detailed business account comparison between Airwallex vs Wise Business

PayPal

A long-standing household name, PayPal has been helping Australians buy goods online safely since the early 2000s. The service now has almost 400 million active accounts⁴ worldwide, making it a trusted choice for many potential customers. The platform currently accepts 130 currencies,⁴ further expanding its reach.

The Paypal business account, PayPal Open, offers features such as checkout and processing, flexible financial services, and risk management and reporting tools.⁴ A comprehensive collection of developer resources helps advanced users better integrate the platform.

Although sleek and super accessible, PayPal has higher seller fees than many competitors.

• 2.90% + 0.30 fixed fee for domestic transactions
• 2.90% + 0.30 fixed fee + 1% percentage-based fee for international transactions, plus a 3-4% currency conversion fee if currency conversion occurs.⁵

For larger businesses with in-house tech expertise, the PayPal offshoot, Braintree, offers customisable APIs and accepts various payment methods.

👆Read more about how PayPal compares to Stripe

Square

Square is an easy-to-use payment gateway for small Aussie businesses with limited tech know-how. To complement its uncomplicated UI, Square also offers a simplified payment structure.

Thanks to its contactless Point of Sale (POS) infrastructure and reasonable fees, Square has become popular among in-person businesses, particularly in the Australian retail and hospitality sectors.

The service also suits some smaller e-commerce stores and social media sellers. Online entrepreneurs might appreciate its e-commerce integrations, invoicing tools, virtual terminals, and checkout links. Automated synchronisation keeps data up to date in real time.⁶

• 1.6% per transaction for in-person card payments
• 2.2% per transaction for online card payments,⁷ plus currency conversion fee where applicable¹⁰

Eway

Established in 1998, eWay is an Australia-based brand that primarily specialises in online and digital payment solutions. The well-established platform has 97,000 business customers and offers a broad range of services, from payment gateways to online processing.

Merchant tools provide high-level insights, and Eway integrates with over 250 third-party platforms, including Xero, to streamline administrative chores. Eway has a solid reputation for safety thanks to its cybersecurity and fraud protection tools.⁸

eCommerce retailers might find the low online payment fees attractive, which don’t require a separate merchant account. On the other hand, the annual fees for the payment processing gateway could turn away some small business owners.

• 1.5% + 25c for online domestic card payments
• 1.5% + 25c +1.99% for international credit cards⁸

Non-AUD payments require a different eWay account to be set up for each currency. Each account links a merchant facility and a merchant bank.⁹

Wise Business

Wise Business isn’t a payment gateway with no customisable APIs or POS machines. However, it does serve as a reliable alternative with features that make business transactions across border much less expensive than it needs to be.

Australian users can accept card payments, both domestic and international, through payment links, invoices, and QR codes. Business owners can also create a multi-currency account to receive money in a currency their international customers are familiar with. Low transparent fees apply when converting those funds into AUD.

Although these fees are comparable to competitors', one important difference is that Wise Business uses the mid-market exchange rate to lower international transaction costs. When receiving payments from abroad, many platforms bake a hidden commission into the exchange rate, often as high as an extra 2-3%.

• 1.6% + 0.30 AUD for domestic card payments
• 3.5% + 0.30 AUD for international or any business card payments (mid-market exchange rate)

Comparing card fees with Stripe's alternatives

There are too many variables to provide a comprehensive cost comparison between all these recommendations. Instead, we will keep things simple by comparing the cost of accepting domestic and international card payments.

Provider	Domestic Card Fees	International Card Fees & Notes
Stripe	1.7% + A$0.30	3.5% + A$0.30 (+ 2% currency conversion)
Airwallex	1.65% + $0.30	3.4% + $0.30 (+ 0.5–1% currency conversion fee)
PayPal	2.90% + $0.30	2.90% + $0.30 fixed fee + 1% variable fee, (+ 3-4% currency conversion fee).
Square	1.6% (in-person) / 2.2% (online)	1.6% (in-person) / 2.2% (online) (+ currency conversion fee)
Eway	1.5% + $0.25	1.5% + $0.25 + 1.99% for international credit cards
Wise Business	1.6% + $0.30	3.5% + $0.30 (mid-market exchange rate)

Considerations when choosing a Stripe alternative

When it comes to payment gateways, there’s no one-size-fits-all solution. Keep the following in mind when evaluating Stripe alternatives.

Pricing structures and hidden fees

Confusing costs and sneaky fees are widespread in the financial services sector. Some payment gateways keep things simple with pay-as-you-go pricing and transparent plans. Others have a knack for overcomplicating matters, and few are upfront about applicable currency conversion fees.

Many small in-person business owners like Square for its simplified pricing and user-friendly POS machines. For international transactions, Wise Business provides a precise, upfront quote detailing the exact transfer cost.

Business needs and transaction volume

Some platforms cater to small businesses, while others work best for big enterprises. Small companies expecting to scale rapidly may prefer a payment gateway that also makes financial sense for high transaction volumes.

Square, for example, offers custom pricing for businesses with annual turnover of $250,000+, and PayPal serves larger enterprises through its Braintree subsidiary. Airwallex has a wide range of services for both large enterprises and SMBs.

Customer support

Payment solutions and financial services can get incredibly complex, creating a pressing need for expert, over-the-phone support. Before investing in a provider, some entrepreneurs like to contact support with a random question and evaluate the speed and thoroughness of their response.

Many SMBs report being satisfied with Eway, which has an Australia-based team that provides customised advice and technical support.

Global reach and currency support

Well-known providers like PayPal can leverage brand recognition to coax cautious would-be customers towards a sale.

Providers that specialise in cross-border transactions, such as Airwallex and Wise, can help globally minded businesses thrive through multi-currency accounts. FOREX rates that are close to or match the mid-market exchange rate substantially reduce international transaction costs.

Wise Business: Manage global money with ease

While Stripe is a powerhouse for processing card payments, managing the resulting international revenue can often lead to shrinking margins due to high conversion markups.

Wise Business helps solve this by acting as a high-performance companion to your existing payment gateway, allowing you to receive Stripe payouts in multiple currencies—such as USD, GBP, or EUR—directly into your account.

Expanding a business globally opens up exciting opportunities, but also new challenges like receiving payments across borders. Hidden foreign transaction fees and hefty currency conversions involved with international payments can eat into your profits and time.

Wise Business serves as a cost-effective solution where you can receive money from around the world at the speed and price of local payments.

Transform the way you receive payments with Wise Business:

• One-time fee of 65 AUD for local account details in 8+ currencies, including AUD, NZD, USD, and more—no recurring fees
• One account to hold, send, and convert money with no hidden fees or exchange rate markups
• Create and send professional invoices directly to your customers through Wise Business
• Create payment links to request money in specific currencies
• Seamlessly receive payments from customers, online sales, or PSPs like Stripe and Amazon.
• Wise is safe and secure - Trusted by 13 million people and counting

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.

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Frequently Asked Questions

1. Can I switch from Stripe to another payment processor without losing my customer data?
Yes. Stripe can help you migrate data from Stripe to another service while ensuring PCI compliance. You can export non-PCI-regulated data through your dashboard or API. For PCI-regulated data, contact customer support.

2. How do international transaction fees typically compare between different payment processors?
The exact figure varies, but most payment processors charge 3-4% for international transaction fees. In addition, a 2-3% currency conversion fee applies, significantly increasing costs. Providers using the mid-market exchange rate may work out cheaper overall.

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Sources:

1. Stripe Total payment volume
2. Stripe Pricing and fees
3. Airwallex Pricing page
4. PayPal Open Small Business
5. PayPal Open Business Fees
6. Square Run your business
7. Square Payments
8. Eway pricing
9. Eway FAQ
10. Square Accepted card payments