Compare the top 7 digital payment systems & solutions in Australia 2025

If you're a business looking to streamline your payment processes and expand globally, exploring digital payment solutions is a must. Navigating the world of digital payments can be complex, but understanding the best solutions tailored to your business needs can make all the difference.

What is a digital payment system?

A digital payment system helps businesses manage their money online.

It can save you time and money by helping you receive global online payments for goods or services and simplifying your financial operations.

A good digital payment system should give you one centralised dashboard for all your payment needs. The total transaction value in the digital payments market is expected to soon skyrocket to $513.10bn¹. Meanwhile, businesses continue to face a competitive macroeconomic environment – whether you’re a digital marketing agency or eCommerce aggregator it’s more important than ever before to find an efficient and reliable payments partner.

With so many providers available, it can be hard to know which suits your business needs best. In this article, we’re going to explore 7 of the most popular digital payment solutions to help you decide.

How do digital payment systems work?

Digital payment systems primarily facilitate smooth electronic transactions between buyers and sellers over the internet.

This financial software makes sure your customers’ money moves safely from their credit card or digital wallet to your bank account.

The payment process typically includes the following steps:

• Payment is initiated by the customer and financial details are entered on a website, mobile app or POS

• This financial information is encrypted by the digital payment system and securely transmitted to the payment processor via a payment gateway

• The payment processing part which verifies the transaction details with the customer’s bank (issuing bank) and the merchant’s bank (acquiring bank)

• The issuing bank authenticates and approves the transaction

• Funds are settled and move from the customer’s bank to the merchant’s bank. 

The top digital payment systems and solutions in 2025 

• Airwallex: End-to-end payment systems with competitive FX rates that allows businesses to grow beyond borders seamlessly with their accounting software.

• Eway: Established in Australia, Eway is easy for Australian businesses as it offers various shopping cart and software integrations.

• GoCardless: Simplifies recurring payments through a billing system which suits businesses that make or receive regular payments.

• PayPal: A well-established digital payment system that’s been operating globally for over 20 years.eCommerce brands use it to process payments from credit cards, debit cards, and bank transfers.

• Revolut: Simple interface with basic multi-currency functions, Revolut is competitive for early-stage small businesses or solopreneurs.

• Stripe: Offers a built-in POS and integrates with popular business tools like Shopify

• Worldpay: A longstanding service in the payment systems market, Worldpay integrates with various software for small to medium businesses.

Top features to look for in digital payment services

 It can feel overwhelming when you start comparing digital payment providers. To help, we’ve compiled a list of the most important features to look out for:

• Security: At the minimum, your provider should be PCI DSS compliant and have fraud prevention systems in place. For best-in-class, look for advanced encryption, SOC1, SOC2 and PSD2 compliance.

• Cost: Find a platform that’s right for you by asking about fee structure and the length of contract. Don’t forget about monthly subscription fees, foreign transaction fees and currency conversion costs.

• Integration capabilities: It’ll make reconciliation, checkouts and forecasting easier and faster if your digital payment software integrates easily with your existing accounting and eCommerce platforms.

• Global reach: Look for a provider that helps you accept global payments without paying unnecessarily high FX or conversion fees, and offers local payment methods to your customers.

• Scalability: Look for a solution that can handle increased transaction volumes and multiple overseas markets without significant disruptions. This reduces the likelihood of you having to switch providers as you grow.

Compare the top digital payment systems in 2025

Let's compare the top digital payment solutions and services.

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. 

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

• Does not serve sole traders

• Physical POS system coming soon

• A newer player in the payments market than some competitors, but proving to be popular with Aussie businesses

Eway 

Eway, founded in 1997, is a well-established digital payment system provider in Australia, known for its extensive integrations. Eway offers competitive pricing, robust security features, and flexible payment options. They offer domestic and international Visa and Mastercard transactions at 1.9% + 20c each. 

Pros 

• Integrates with over 250 eCommerce platforms 

• No setup fees 

• Built-in fraud protection 

Cons

• Manual activation of built-in fraud prevention tools

• Hefty chargeback fee of $44 

• Dependency on business bank account for receiving payments 

GoCardless 

GoCardless is a financial technology company with a reputation for providing a secure payment pathway for SMEs and larger enterprises with recurring billing systems across multiple countries.

Headquartered in London, the company helps businesses send and receive payments directly by facilitating domestic, international, one-off, recurring and scheduled payments via Direct Debit and Instant Bank Pay. GoCardless offers a tiered subscription model for Australian customers, with incremental features included. There are no monthly subscription costs and transaction fees start at 1% +40c.

Pros 

• Specialises in one-off and recurring payment systems 

• Multi-currency account to eight currencies 

• Integrates well wih Xero, QuickBooks, FreeAgent, WooCommerce and more

Cons 

• Doesn’t have online payment acceptance including cards, only Direct Debit and Instant Bank Pay

• No international payouts

• Lacking spend management tools 

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 makes it a convenient choice for both 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. 

Pros 

• Wide-spread acceptance and various payment methods

• Suitable for personal and business use 

• 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

Revolut

Revolut is a digital bank that services individuals and businesses. It is best known for its personal use cases, allowing individuals to convert between currencies when travelling. For businesses, Revolut offers multi-currency accounts that allow businesses to hold and manage multiple currencies in one place. Revolut also accepts borderless payments and provides a modern interface in their website and mobile app. Whilst Revolut offers various pricing models, some basic features require extra fees, such as international transfers beyond set limits. Markups on exchange rates may also apply on weekends and with certain currencies. 

Pros 

• Offers customisable corporate cards 

• Supports multi-currency accounts and currency conversion 

• Serves both individuals and businesses, so those who already have a personal account may find it easier to pick up 

Cons

• Additional transaction fees outside the free transaction allowance may be costly 

• User can't earn interest or returns on idle funds

• 2% fee applies for ATM withdrawls

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. Stripe's tools and services support various payment methods and currencies, providing global reach. However, Stripe does not offer a multi-currency account to hold international funds, or expense management tools to assist with a full suite of financial operations. 

Pros

• Extensive analytics and reporting tools

• Offers a wide range of payment acceptance methods

• 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

WorldPay 

Worldpay, established in 1997, is a comprehensive digital payment solution provider known for its extensive global reach and customizable services. It supports a wide range of payment methods and currencies with various plans tailored to business needs.

Worldpay features real-time monitoring through live dashboards and integrates well with major eCommerce platforms. 

Pros

• Available in 146 countries, supporting 126 currencies 

• Built-in fraud prevention tools

• Flexible payment methods, supporting cards and digital wallets 

Cons

• Complex services which may require more research to understand 

• Onboarding process can be lengthy

• Fee structure could be considered complex

What questions should you ask when onboarding a digital payment solution?

Asking the right questions when selecting a new digital payment solution can make all the difference. You don’t want to end up with a platform you don’t like and waste time trying to exit a 12-month contract after a couple of months.

To help you make an informed decision, we’ve included a roundup of the key questions to ask your digital payment company when you’re in the onboarding phase:

• Tell me about your security protocols. How does the provider ensure the safety and security of transactions? Investigate their KYC/AML procedures, encryption standards and fraud detection capabilities. They should at least meet PCI DSS industry standards.

• Please explain your pricing structure. Ask about all potential fees, such as transaction, monthly, setup and conversion fees. This will help you avoid unexpected costs, particularly for international transactions.

• Do you support global payments? Beyond understanding the cost of accepting international payments, does the provider allow you to collect and hold multiple currencies? Or will you be forced to convert all payments? This can get expensive, fast.

• How many payment methods are available? Does the service support a variety of payment methods, including local and alternative options, as well as Visa, Mastercard and American Express credit and debit cards?

• What integrations do you offer? Ensure the provider offers integrations with your existing accounting, CRM and eCommerce platforms to streamline your operations.

• What kind of customer support available? Understand their customer service options, including response times and the availability of support channels like email, phone and chatbot.

• Can you support quick business growth? It costs time and money to switch services every couple of years. Check your new provider can help you as you scale with increased transaction volumes and the ability to operate in multiple overseas markets without significant disruptions.

• Tell me about your refunds and chargebacks policy. Ask how the digital payment system handles refunds and chargebacks – this can help protect your funds in the future.

• Do you offer analytics? Reporting capabilities are valuable as they can help you forecast and reconcile your books quicker. Ask what kind of data insights are available with the platform and how detailed they are.

• What is the customer experience like? Is the checkout functionality customisable? How does it integrate with your website/app and ensure a smooth transaction? This will help you understand how much the platform has considered user design. 

Why choose Airwallex as a digital payment system?

Airwallex is a global financial platform that transforms how businesses move and manage money domestically and internationally.

As a digital payment system, it helps businesses build frictionless global checkouts instantly, issue payment links, offer 160+ local payment methods and settle like-for-like in 12 currencies.

Beyond transactions, Airwallex is also known for streamlined global funds management. With a Business Account you can issue multi-currency employee corporate cards and manage your expenses to track spending, simplify expense reimbursement processes, boost budget management and improve employee productivity. 

Airwallex is a smart choice if you’re looking to benefit from:

• Gold standard security: safeguard funds with best-in-class payment acceptance and fraud protection that’s PCI DSS compliant.

• Flexible payment options: offer your customers 160+ payment methods, with local options that cater to their preferences.

• Global reach: accept payments from 180+ countries and open bank accounts with local details in 22+ currencies.

• Competitive fees: maximise revenue with like-for-like currency settlement, market-leading FX rates and competitive transaction fees.

• Efficient funds management: get real-time visibility over cash flow, expenses and multi-entity accounts.

Seamless integration: plugin seamlessly (no coding required) with platforms like Shopify, WooCommerce, Xero and NetSuite to reduce finance team admin hours.

FAQs about digital payment solutions

What is a digital payment system?

A digital payment system is a kind of software or digital tool that facilitates electronic payments and helps businesses manage their money. 

What important factors to choose when selecting a digital payment solution?

There are lots of factors worth considering, including security and compliance, fees and costs, integration with business tools, scalability and growth potential, and which payment methods are supported. 

How much does it cost to onboard a digital payment company?

Pricing varies between providers; some offer subscription plans, while others operate on a per-transaction model. Don’t forget there are often hidden fees for international payments. 

How safe are digital payment services?

Secure digital payment services should include fraud prevention systems, end-to-end data encryption and be compliant with PCI DSS (the global security standard for organisations that store and process sensitive data).

Sources & references

¹https://gocardless.com/blog/how-much-do-international-payments-really-cost

² https://www.paypal.com/au/enterprise/payment-methods

³ https://www.paypal.com/au/webapps/mpp/merchant-fees

⁴ https://www.revolut.com/business/multi-currency-accounts/

⁵ https://www.revolut.com/business/business-account-plans/

⁶ https://stripe.com/au/pricing

⁷https://www.worldpay.com/-/media/fisglobal/WorldPay/Docs/Solutions/Global-Acquiring-Brochure-New.pdf?sc_lang=en-AU

Disclaimer:  The information in this article is based on our own online research and we are 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. If you would like to request an update, feel free to contact us at [email protected]

This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here.