Top 5 Adyen alternatives: compare fees, features & benefits

If you run a growing business, you’ll need a payment platform that will allow you to open local accounts in several currencies, seamlessly accept payments from international customers, and send money across borders without excessive fees.

Whilst Adyen may be one of your options, you may like to consider its alternatives to see which one suits your needs best.

What is Adyen? 

Adyen is a Dutch financial technology company that helps businesses accept payments from customers. The platform facilitates online, mobile and point-of-sale (POS) transactions.

Since it was established in 2006, Adyen has evolved into an end-to-end financial platform and now integrates payments, data analytics and funds management services.

It’s used by major global enterprises like Spotify, eBay and Uber, offers global payouts to 190+ countries, and can handle large payment volumes in-store and digitally.

For Australian businesses, Adyen offers two options: either interchange++ model or a fixed processing fee + payment method fee. Cost varies by volume, currency and transaction type¹.

The top alternatives to Adyen

Here are the top alternatives to Adyen.

Airwallex is an Australian global financial technology company that offers a range of financial services, including international payments, multi-currency accounts, and Borderless Cards. It aims to empower businesses of all sizes to drive their global growth through easy-to-use transaction solutions.

Braintree is a payment platform that enables businesses to accept, process, and split payments in multiple currencies. It supports a variety of payment methods including a credit or debit card, PayPal, and several digital wallets.

Payoneer is a global fintech company that offers digital payment solutions. It enables businesses and professionals to send and receive funds, manage finances, and operate internationally. With Payoneer, users can handle cross-border payments and access global markets.

PayPal is a leading payment gateway that's been serving customers worldwide for 20 years. It enables eCommerce brands to facilitate payments from credit cards, debit cards, and bank transfers.

Stripe is a financial services and mobile payment company that equips businesses with the means to accept payments, oversee sales, and optimise operations. Square is generally recognised for its portable card readers and innovative POS systems.

Compare the top 5 alternatives to Adyen

The top Adyen alternatives: key features and fees

Airwallex, Braintree, Payoneer, PayPal, and Stripe are all alternatives to Adyen, but each have their own strengths. Our platform, Airwallex stands out from the rest with our end-to-end financial operations and global reach. It’s a strong option if you’re looking to scale your financial operations domestically or internationally. 

Below, we summarise the key features and fees of each. For full product and fee information, including other charges, please visit each provider’s official website. 

Airwallex

Airwallex is a global payment solution that lets you accept payments in more than 160 payment methods across 180 countries. No-code to fully-customisable integration options make it easy to get started quickly, and you can save your business a tonne of fees with like-for-like settlement into multi-currency accounts. In other words, you can settle payments in the same currency that your customers pay in, saving you on costly exchange rates. 

It’s easy to open an account with local bank details in Airwallex, without having to go to a bank or complete any complicated paperwork. The platform also offers FX and transfer solutions, with competitive interbank fees. Uniquely, our investment product, Yield, allows businesses to earn competitive rates on their idle AUD and USD funds. Other features like virtual cards, accounts payable, and expense management, make it ideal for growing businesses. 

Unlike Wise, Airwallex offers a more comprehensive all-in-one financial solution which makes growing globally easier. 

Airwallex fees: 

Subscription Fees: Airwallex’s ‘Explore’ bundle starts from $29 per month, which can be waived by holding a minimum of $10,000 or depositing $5,000 per month. 

Domestic transactions: Free

International transactions: Free to 120+ countries

Pros

• An all-in-one platform for business financial operations, combining accounts, payments, corporate cards, and more

• Low-cost international transfers 

• Extensive global reach to convert, send, and hold funds

Cons

• No physical branches – digital only platform and service

• New updates and optimisations being released regularly, which may not suit the user habits of all consumers

• Physical POS system coming soon

Braintree

Acquired by PayPal, Braintree offers a payment provider solution for businesses seeking customisation. Braintree features an API to integrate into websites and apps, while also supporting various payment options like credit cards, debit cards, PayPal, and digital wallets. 

They also offer security with fraud detection and prevention tools. For business owners that are less technical, Braintree may have a steeper learning curve compared to other payment solutions. The international transaction fees are also relatively high compared to other Stripe alternatives. 

Braintree fees: 

Subscription fees: Free account

Domestic transactions: 1.75% + $0.30 per transaction

International transactions:  3.9% + $0.30 per transaction

Pros 

• Supports popular payment methods and mobile wallets 

• Suitable for subscription-based businesses with recurring billing 

• Integrates with popular platforms like BigCommerce

Cons 

• High international fees, especially with FX conversion 

• Limited support for custom features, which may be difficult for businesses without technical resources

• Not ideal for brick-and-mortar stores as they primarily focus on online stores

Payoneer

Payoneer is used amongst freelancers and businesses due to its focus on cross-border transactions. The platform offers an intuitive interface, supporting multiple payment methods such as bank transfers and debit/credit cards. Payoneer also provides a prepaid Mastercard at $29.95 annually, which can be used for online and in-store purchases. Whilst they offer payment processing services for marketplaces and platforms, fees are higher for international transfers, which may become costly. 

Payoneer fees: 

Subscription fees: Free account. Prepaid Mastercard costs $29.95 per year.

Domestic transactions: Free for transactions between Payoneer accounts. All other transactions cost 2% or 3% per transaction if paying via credit card

International transactions: 0.5% transfer fee

Pros

• Supports multi-currency accounts and currency conversion 

• Serves both individuals and businesses

• Free transactions between Payoneer accounts

Cons

• Transfer limits of $15,000USD per credit card transaction, which may be limiting for larger businesses 

• Primarily a payments product, with no multi-currency accounts or corporate cards

• Users may need another platform to manage other financial operations

PayPal 

PayPal supports a variety of payment methods, including credit and debit cards, bank transfers, and PayPal balances. The platform also offers invoicing, subscription payments, and mobile payments. 

PayPal’s widespread acceptance is available for personal and business use. However, PayPal is likely to incur higher fees for business transactions, which in the long-term may affect a business’ bottom line. 

PayPal Fees: 

Subscription Fees: Free account

Domestic transactions: 2.6% plus fixed fee 

International transactions: 3.6% plus fixed fee

Pros 

• Widespread acceptance and various payment methods

• Suitable for physical and digital stores

• Offers buyer and seller protection

Cons

• Higher fees for international transactions

• Whilst it may be easy to use, there are limited customisations available 

• Doesn’t hold multi-currency funds

Stripe 

Stripe is a financial technology company that provides businesses with infrastructure for offline and online payments. It offers a suite of payment processing APIs, letting businesses accept, manage, and reconcile online transactions. For brick-and-mortar stores, they offer a POS system to accept in-person payments. Stripe's tools and services support various payment methods and currencies. However, Stripe doesn't offer a multi-currency account to hold international funds, or expense management tools to assist with a full suite of financial operations. 

Stripe fees: 

Subscription fees: No account fees

Domestic transactions: 1.7% + $0.30 per transaction

International transactions: 3.5% + $0.30 per transaction. An additional 2% is charged if currency conversion is required. 

Pros

• Extensive analytics and reporting tools

• POS system for physical stores

• Minimal subscription fees may make Stripe an accessible option

Cons

• Primarily a payments product, with no multi-currency accounts or corporate cards

• Users may need another platform to manage other financial operations

• Costly for international transactions, especially where currency conversion is involved

Why choose Airwallex over Adyen?

What questions should I ask Adyen alternatives?

To find out if Adyen is right for your business, or if there’s a better option out there, use these 10 questions to guide your research.

1. What is your pricing model?

2. Do you offer local acquiring?

3. What are your FX rates?

4. What countries can I payout to?

5. What payment methods do you support?

6. How long does it take for payments to settle?

7. How scalable is your payment solution as my business grows?

8. What integration capabilities do you offer?

9. How do you protect sensitive financial information?

10.  What customer support do you offer?

Final thoughts on alternatives to Adyen

Like Airwallex, Adyen supports companies around the world to move money globally and streamline financial operations.

Both providers offer additional services to help ambitious businesses unlock opportunities, including corporate and employee cards, FX capabilities, expense management and data analytics.

But if you’re a small or medium sized business eyeing global expansion, Adyen’s complex pricing model and minimum invoice requirements may not be the best fit for you. Its products are mostly designed for large global enterprises with a high volume of payments.

Airwallex offers more a flexible, transparent and affordable cross-border financial solution.

Our costs are simple and transparent: we use a simple blended pricing model or interchange++ for card acceptance. Our coverage extends to 180+ countries and we charge a flat 1% fee per foreign transaction.

Sources

For more information on Airwallex, visit Airwallex Business Account and Airwallex pricing.

1 https://www.adyen.com/en_AU/online-payments

https://www.adyen.com/en_AU/pricing

2https://www.braintreepayments.com/au/braintree-pricing

https://www.payoneer.com/about/pricing/#pay-your-supplier

https://www.paypal.com/au/enterprise/payment-methods

https://www.paypal.com/au/webapps/mpp/merchant-fees

https://stripe.com/au/pricing/local-payment-methods

https://stripe.com/au/pricing 

Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]].

The Airwallex Yield Liquidity Fund (Yield) is issued by K2 Asset Management Limited (K2) (ABN 95 085 445 094, AFSL No 244393), a wholly owned subsidiary of K2 Asset Management Holdings Limited. This information doesn’t take into account your objectives, financial situation, or needs. Read the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for Yield, available at www.airwallex.com.au/terms from Airwallex Capital Pty Ltd (ABN 37 609 653 312, AFSL No. 549026). All investments carry risk.