Top 5 Stripe alternatives: compare fees, features & benefits

By Vanessa YipUpdated on 20 March 2025Published on 3 October 20248 minutes
GuidesFinance
Top 5 Stripe alternatives: compare fees, features & benefits
In this article

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

What is Stripe? 

Stripe is a technology company that sells financial software to help businesses accept and process payments from customers.

Stripe is used by businesses of all sizes, from big businesses like Amazon and Lyft, to growing eCommerce stores and single bricks-and-mortar retailers who need point-of-sale (POS) systems.

Companies use Stripe to reach customers and accept payment methods such as credit and debit cards, mobile payments, and ‘buy now, pay later’ (BNPL) options.

For businesses in Australia, Stripe offers a standard account and custom package for enterprises with large payments volumes or unique business models. It charges per transaction, starting at 1.7% + $0.30 for domestic card transactions. 1

The top alternatives to Stripe

Here are the top alternatives to Stripe.

  • Airwallex is a global financial technology company that offers a range of financial services, including online payment acceptance and processing (checkouts), international payments, multi-currency accounts, and corporate cards. Founded in Australia, we strive to simplify cross-border transactions for businesses of all sizes.

  • 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 credit and debit cards, PayPal, and several digital wallets.

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

  • Shopify, an eCommerce platform, helps businesses to establish and maintain their online presence with a suite of features for inventory management, marketing, and payment processing.

  • Square is a financial services and mobile payment company that equips businesses with the means to accept payments, oversee sales, and optimise operations. It also offers portable card readers and POS systems.

Compare the top five alternatives to Stripe

Best for

Payment methods

Cost

Airwallex

Growing companies looking to accept payments locally and globally

160+ payment methods available, accepted in 180+ countries

1.65%+ 30c AUD to collect local payments. Currency conversions at 0.5-1%. Monthly fees may apply.

Braintree

Supporting eCommerce businesses

Supports PayPal, Venmo (US), Visa, MasterCard and AMEX cards, direct banking, popular wallets and some local payment methods4

1.75% + $0.30AUD per transaction. International transactions cost 3.9% + $0.30AUD.4

PayPal

SMEs looking for a payment processor and integrations

Varies on size of business; enterprises can accept card payments, PayPal and 10+ local payment methods from 200+ countries6

Complicated fee structure that varies by transaction type. To receive international payments, 3.6%. Currency conversion at 3% above the base exchange rate5

Shopify

Entrepreneurs seeking a common payment processor

All major credit cards, mobile wallets, and some local payment methods including UnionPay, Klarna, Bancontact and iDEAL7

Various plans and fees. Starts at 1.75% + 30¢ AUD for online payments and 2% for any 3rd-party payment providers8

Square

Brick-and-mortar businesses that need integrated payment systems

Most credit and debit cards and,major mobile wallets (including Apple Pay and Google Pay)9

1.9-2.2% per transaction, depending on the plan. 6% for BNPL payments10

Find out for yourself how Airwallex compares to Stripe.

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The top Stripe alternatives: key features and fees

Airwallex, Braintree, PayPal, Shopify, and Square are all alternatives to Stripe, but each have their strengths. Our platform, Airwallex stands out from the rest with our end-to-end financial operations and global reach. It’s a strong option for businesses that are looking to scale their financial and payment operations domestically or internationally. 

Below, we summarise the key features and fees of each Stripe alternative. 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. 

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

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

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. 

PayPal Fees: 

Subscription fees: Free account

Domestic transactions: 2.6% plus fixed fee 

International transactions: 3.6% plus fixed fee

Square 

Square is widely used by both physical and online businesses for its point-of-sale (POS) solutions and customisable payment links for online transactions. It's well-suited for physical businesses, offering a range of hardware tools, inventory management, and employee management features. However, the higher fees for online transactions and the inconsistency in customer support can make it a less favourable option for eCommerce and international businesses.

Square Fees: 

Subscription fees: Free account

Domestic transactions: Physical card transactions incur a 1.6% surcharge whereas online or no-card transactions cost 2.2% 

International transactions: 2.2% per transaction 

Shopify 

Designed for eCommerce businesses, this payment processing platform offers eCommerce integrations and tools to manage online stores. Shopify offers multi-currency support for over 100 currencies to cater to a global customer base. They also have features for managing customer data and interactions, allowing businesses to create personalised customer experiences. However, their eCommerce integrations aren't as flexible for businesses not using Shopify. 

Shopify fees: 

Subscription fees: Starting at $42/month 

Domestic transactions: Differs by payment method, starting from 1.75% + 30c per transaction for Shopify Payments

International transactions: Varies by currency, but typically 2.9% + fixed fee

Why choose Airwallex over Stripe?

Airwallex

Stripe

Online payment gateway

Domestic card payments

1.6% + $0.30AUD

1.7% + $0.30AUD1

International card payments

3.4% + $0.30AUD

3.5% + $0.30AUD2

FX conversion fee

0.5-1%

2%2

Multi-currency business account

Borderless debit cards

International payouts (for suppliers, staff, expenses)

High-rate business saver

✅ Yield

Expense management

Point of sale payments

⏰ Coming in 2025

What questions should I ask when choosing alternative providers to Stripe?

With so many payment platforms on the market, it can be tricky to find the one that’s best for your business.

Stripe may or may not be right for you. Some business owners look elsewhere because of its high transaction fees and POS hardware capabilities.

To help you figure out which payment platform is worth your investment, we’ve compiled 10  questions you should ask any supplier before signing a contract.

  • What types of payments can you process?

  • What are the transaction fees and how do they vary by payment method/transaction type?

  • Can your platform handle multiple currencies? What are the currency conversion charges?

  • What is the process for chargebacks?

  • How do you manage fraud protection?

  • Do you offer POS solutions and how do they integrate with online payments?

  • Are there any long-term contracts or early termination fees?

  • Are there any setup or ongoing monthly fees?

  • What kind of customer support do you offer?

  •  How do I integrate your payment gateway to my website? Do you offer technical support?

Final thoughts on alternatives to Stripe

If you’re looking for cost-effective global money management, Airwallex is hard to beat.

Over 100,000 companies use our software to simplify global payments and financial operations. The most popular uses are to manage international customer payments, support treasury operations, and accelerate embedded finance products.

Our payment gateway can help you accept worldwide payments by integrating seamlessly with major eCommerce platforms like Shopify, WooCommerce, and Magento, and by supporting payments from 180+ countries.

While Stripe also offers global payment services and multi-currency business accounts, with an Airwallex Business Account, you can settle in multiple currencies ‘like-for-like,’ avoiding the unnecessary conversion fees you’d be forced to pay using Stripe.

And if you do want to convert currencies with Airwallex you’ll benefit from interbank rates + 0.5-1%, compared with Stripe’s 2% currency conversion fee3.

Stripe could be a good option for smaller businesses with an offline presence in Australia, but for businesses with growth ambitions at home or abroad, Airwallex has the edge. 

Find out for yourself how Airwallex compares to Stripe.

Sources

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

  1. https://stripe.com/au/pricing

  2. https://docs.stripe.com/currencies/conversions

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

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

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

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

  7. https://www.shopify.com/au/payments

  8. https://www.shopify.com/au/pricing

  9. https://squareup.com/au/en/payments

  10. https://squareup.com/au/en/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. 

Discover our complete Business Account.

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Vanessa Yip
Business Finance Writer

Vanessa is a business finance writer for Airwallex. With experience working at leading B2B technology companies, Vanessa is passionate about helping Aussie businesses, large and small, grow through cutting-edge tech. In her day-to-day, she breaks down complex tech jargon to help businesses streamline their end-to-end financial operations.

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