Airwallex vs Stripe: Comparison for UK Businesses

Airwallex¹ and Stripe² both offer ways for UK businesses to get paid digitally by customers. However while there’s some overlap in the services offered by Airwallex vs Stripe, they’re not exactly the same. Stripe has more of a focus on a broad range of payment processing options including in person payments, while Airwallex offers digital payments alongside other options like global business accounts.

Ultimately whether Stripe vs Airwallex is better for you may just depend on the services you need. This Airwallex vs Stripe review covers some important aspects to consider. Plus we’ll introduce Wise Business as a helpful low cost option for businesses transacting globally.

💡 Learn more about Wise Business

Airwallex vs Stripe - Comparison overview

Let’s start out with a head to head comparison of both Airwallex and Stripe based on their key features. We’ll look at each option in more detail in just a moment.

Airwallex review

Airwallex focuses on digital business services including business accounts, ways to issue payment cards, and also has payment processing solutions for online and in-app payments. Airwallex doesn’t offer in person payment solutions. Features include:

• Take local and global card payments
• Hold funds in an Airwallex account
• Low and no code options for ecommerce
• Payment links
• Ways to receive payments through marketplace sites
• Accounting integrations
• Other services available including borderless cards and expense management

Is Airwallex a UK bank?

Airwallex is not a bank - however, it is a reputable provider which is licensed in the UK by the FCA. Airwallex keeps customer accounts and data safe, and if you have money in an Airwallex account it is safeguarded according to FCA requirements.

Is Airwallex a payment gateway?

A payment gateway is used by companies which need to take card payments from customers, often online and through mobile apps. Airwallex provides payment processing services for digital payments, although in person payments aren’t offered.

How safe is Airwallex?

Airwallex is safe for customers in the UK to use. It’s a licensed and regulated provider which has to comply with strict rules about how it processes payments and holds customer funds. As a global service it has to follow the legislation applied in various jurisdictions around the world.

Airwallex pricing

Airwallex products and services have varied fees, which can depend on your specific account type and any other arrangements you have made with Airwallex. Volume discounts may be available for larger businesses, for example. Here are some key costs - be sure to check all the fees that may apply to your specific account carefully.

Stripe payment reviews

Stripe UK services can be used for online, in app and in person payments by businesses of all sizes. Features include:

• Local and global card payments
• Physical card terminals
• Online and digital payment methods
• Invoicing and recurring billing solutions
• Payment links
• Low and no code solutions as well as more complex, tailored options
• Support with tax, user identification, business management and more

New to Stripe? You can get our full Stripe Payments review here.

Is Stripe payments safe?

Stripe Payments is a large and trusted company which processes huge volumes of transactions daily. It is fully licensed and regulated in the UK, and is safe to use.

You can read more about Stripe payments, including a review of safety here.

Stripe payment fees

What it costs you to use Stripe can vary based on the types of payments you’re taking, as well as where your customers are located. There are also various ways you can get custom pricing models - particularly if you have a high turnover. To see if this is available for you it’s worth reaching out to the Stripe sales team. Here’s an overview of some key and common Stripe costs - You can get a complete guide to Stripe payment fees here.

Stripe vs Airwallex fees - Head to head comparison

Let’s get a side to side Airwallex vs Stripe comparison just looking at fees. These are the key headline costs for each provider, but bear in mind that other fees may also apply. You may also find you can get discounts or tailor made solutions based on your specific company needs.

Manage your international business with Wise

If you need to pay or get paid in foreign currencies, you could be better off with Wise Business. Whether it’s paying contractors and suppliers overseas, or accepting global customer payments digitally and through PSPs like Stripe and Airwallex, Wise has low cost solutions to help.

Wise Business accounts can hold and exchange 40+ currencies, send payments to 160+ countries and come with local account details to get paid in 8+ currencies like a local.

Use your Wise account to get paid in a selection of major foreign currencies by customers and clients, through marketplaces - and via PSPs. Whenever you need to send, spend or exchange foreign currencies, you’ll benefit from the mid-market exchange rate, with low, transparent fees.

Other helpful Wise Business features include:

• No ongoing fees, minimum balance requirements or foreign transaction fees
• Debit and expense 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 people at once with the Wise batch payments feature
• Integrate with your favourite cloud accounting solutions, and use the Wise API for streamlining workflow
• Use the Wise Interest feature to make your money work harder when you’re not using it

Get started with Wise Business 🚀

There’s no single best option for taking business payments - so whether a solution like Airwallex or Stripe suits you may just depend on how you need to transact. This guide has some handy information to help kickstart your research - while you’re deciding how best to manage your company finances, why not also take a look at Wise Business for simple low cost solutions to take and make global payments.

Sources used in this article:

Sources last checked 24/05/2024