Top 5 Stripe 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 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.

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, Stripe is liked by business owners worldwide for its simplicity, flexibility and integration capabilities.

Companies use it to reach more customers and accelerate growth by accepting all kinds of payment methods such as credit and debit cards, mobile payments and “buy now, pay later” options.

For businesses in the UK, Stripe offers a standard account and custom package for enterprises with large payments volume or unique business models. It charges per transaction, starting at 1.5% + 20p for standard UK card transactions¹.

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 Borderless Cards. 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 a credit or debit card, PayPal, and several digital wallets.

• 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.

• Shopify, a formidable e-commerce platform, empowers businesses to establish and maintain their online presence with a suite of features for inventory management, marketing, and payment processing.

• Square is a distinguished financial services and mobile payment company that equips businesses with the means to accept payments, oversee sales, and optimize operations. Recognised for its portable card readers and innovative POS systems.

Compare the top 5 alternatives to Stripe

Why choose Airwallex over Stripe?

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.

Although Stripe is reliable and loved by many, it might 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 complied the top 10 questions you should ask any supplier before signing a contract.

1. What types of payments can you process?

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

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

4. What is the process for chargebacks?

5. How do you manage fraud protection?

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

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

8. Are there any setup or ongoing monthly fees?

9. What kind of customer support do you offer?

10.  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 fee¹³.

Stripe could be a good option if you’re a smaller business with an offline presence in the UK, but if you’re growing beyond borders, Airwallex has the edge. 

Sources

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

• https://stripe.com/gb/pricing

• https://www.braintreepayments.com/au/features/payment-methods

• https://www.braintreepayments.com/gb/braintree-pricing

• https://wise.com/gb/blog/braintree-vs-stripe-uk

• https://www.paypal.com/uk/enterprise/payment-methods

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

• https://www.shopify.com/uk/payments

• https://www.shopify.com/uk/pricing

• https://squareup.com/au/en/payments

• https://squareup.com/gb/en/pricing

• https://stripe.com/gb/pricing

• https://stripe.com/en-bg/issuing

Disclaimer: We wrote this article in Q3 2024. The information was based on our own online research and we were 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].