Airwallex vs Stripe: A Complete Guide for UK and EU Merchants
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Please note that the information about the payment providers in this article was taken from their respective websites on 8 February 2025. This information is subject to change.
Airwallex and Stripe are prominent payment platforms for businesses worldwide. They offer comprehensive and intuitive features and integrations. But which one is better?
This guide provides a detailed Airwallex review and compares it with Stripe, focusing on cross-border payment methods, pricing, and integrations in the UK and Europe. Its aim is to help you determine which is the best online payment platform for your specific business needs.
Overview
Airwallex was established in 2015 in Melbourne, Australia, by co-founders Jack Zhang, Lucy Liu, Max Li, Xijing Dai, and Ki-lok Wong. It focuses on providing a comprehensive financial platform for businesses, specialising in cross-border payments, foreign exchange, and financial services through a proprietary banking network and APIs. Its offerings include business accounts, expense cards, and payroll solutions. Airwallex aims to streamline international financial operations for companies and is currently headquartered in Singapore.
Stripe was founded in 2010 in Palo Alto, California, by Irish entrepreneurs John and Patrick Collison. It is the largest fintech company, with headquarters in Dublin, Ireland, and South San Francisco, California. Stripe primarily provides online financial payment processing solutions for developers, enterprises, and startups.
Supported Markets and Customer Base (Stripe vs Airwallex)
| Airwallex | Stripe | |
| Geographic Coverage | 60+ countries (including the US, the UK, EEA and others) for opening local currency accounts and 180+ countries from which payments can be received | 46 Stripe-supported countries (including the US, Canada, and European countries such as France, the UK, Germany and others) |
| Supported Languages & Currencies | 130+ currencies and currently offers Airwallex checkout in 16 languages | 135 currencies and offers Stripe Checkout and payment links in 34 languages |
| Merchants Categories/Industries | Serves a diverse range of industries, from eCommerce and technology to professional services and travel | Serves a wide array of industries, from e-commerce platforms to SaaS, retail, enterprises, and startups |
Features
Supported Payment Methods
Airwallex and Stripe are well-known payment platforms that offer various payment methods to cater to global businesses. Let’s examine each to determine which offers the best payment solution.
| Airwallex Payment Methods | Stripe Payment Methods | |
| Debit and Credit Cards | Supports major card networks such as Visa, Mastercard, American Express, JCB, and others | Visa, Mastercard, American Express, JCB, Discover, Diners Club, and more globally |
| Digital Wallets | Apple Pay, Google Pay, PayPal and more | Apple Pay, Google Pay, Alipay, WeChat Pay, Revolut Pay for UK and EEA customers, and more |
| BNPL | Klarna, Afterpay/Clearpay, Atome and Zip for Singapore and Australian customers, respectively | Integrates with Afterpay, Affirm, Klarna, and other BNPL providers For UK customers: Clearpay and Klarna |
| Bank Transfer/Direct Debit | Supports various local and international bank transfers, including Bancontact (Belgium), ACH (US), Bacs for UK customers and SEPA in the EU | ACH, SEPA, Bacs, BECS, and other bank transfers globally |
| Bank Redirect/Pay-by-Bank | iDEAL (Netherlands), Pay by Bank app (PbBA) for Great Britain Customers and more | In select regions like iDEAL (Netherlands), Bancontact (Belgium), TrueLayer for UK Customers, and others Pay-by-Bank: Currently available for UK customers and soon to be launched in Germany in 2025 |
| Cash-based vouchers | Paysafecash (UK, France, Spain, Ireland and others), and region-specific like Kobini (Japan) | Cash-based methods in specific regions like OXXO (Mexico) and Boleto (Brazil) |
| Cryptocurrencies | Currently, it does not offer cryptocurrency payment options | Supports crypto payments via third-party integrations, enabling merchants to accept Bitcoin and others |
Recurring billing and Subscription Management
Airwallex provides comprehensive subscription management tools, allowing businesses to handle the entire customer subscription cycle, from signup to cancellation. This includes managing trials, invoicing, and automated recurring billing for various business models, such as SaaS technology, services, education, media, and content.
Stripe Billing product offers robust tools for subscription management and recurring billing. Its components enable flexible subscription models, including Tiered pricing and Usage-based billing.
Additional Unique Features
Airwallex offers a suite of services tailored for businesses engaged in international operations, which includes:
- Multi-Currency Accounts: The platform allows businesses to hold and manage funds in multiple currencies, facilitating international transactions and reducing foreign exchange costs. It also issues multi-currency corporate cards to streamline local and global purchases.
- Expense Management: Airwallex’s Expense Management system simplifies the collection of receipts and expense information from employees, enhancing the efficiency of financial workflows.
Stripe Company, on the other hand, offers several unique features, such as Stripe Terminal for in-person payments, Stripe Checkout for seamless online transactions, Stripe Connect for multi-party payments in marketplaces, Stripe Radar for fraud detection, and Stripe Atlas for incorporating companies in the US and accessing banking services.
Security & Compliance
Both Airwallex and Stripe prioritise security and compliance. To protect transactions, they use robust fraud detection measures, such as PCI DSS compliance, 3D Secure authentication, and tokenisation. Airwallex holds multiple financial licenses, including a Major Payment Institute license in Singapore, a Money Services Business (MSB) registration in the US, an FCA license in the UK, and an FSP license in New Zealand.
Similarly, Stripe is a licensed money transmitter in the US, an electronic money institution under the Central Bank of Ireland for Europe, and holds an Australian Financial Services License (AFSL).
Integration
Airwallex provides ready-made plugins for seven e-commerce platforms, including Shopify and Shopline. It also offers comprehensive APIs and SDKs, such as Airwallex.js, for developers to integrate payment acceptance into mobile and web applications.
Airwallex integrates with various platforms to enhance business efficiency. These include:
- 8 accounting tools, such as Xero and NetSuite, for automated bookkeeping;
- 5 productivity apps, such as Zapier and Asperato, for workflow automation;
- 10 e-commerce platforms, such as Shopify, WooCommerce, and Magento, for seamless payment processing;
- 2 marketing solutions, such as HubSpot and Hubstudio, for CRM and ad management.
Stripe offers ready-made plugins for popular e-commerce platforms like Shopify, WooCommerce, Magento, and Wix, along with robust APIs and SDKs for custom payment solutions. It also provides Stripe Elements for seamless UI integration and webhooks for automation and integrates with business tools like QuickBooks, Xero, and Salesforce. The Stripe App Marketplace hosts 280 apps and 256 ISVs for extended functionality.
Merchant Dashboard Usability
The Airwallex dashboard is designed for intuitive integration and offers features such as real-time transaction monitoring, customisable reporting, and expense management tools. These functionalities enable merchants to efficiently manage their financial operations and gain insights into their business performance. The Stripe dashboard, on the other hand, is renowned for its user-friendly interface. It provides comprehensive reporting, detailed analytics, and a suite of tools for managing payments, subscriptions, and more.
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Pricing
It is important that the top-rated payment gateways ensure fee transparency in online payment systems and provide user-friendly payment integration with fast payment speed and reliability. Airwallex offers tiered pricing to accommodate businesses of all sizes: Explore (£0 or £19+VAT), Grow (£49+VAT), Accelerate (£999+VAT), and Custom (tailored for high-volume businesses). It also offers eligible customers a free one-month trial for Explore and Grow plans. Stripe, on the other hand, is best suited for businesses handling high volumes of global transactions. So, let’s explore the Airwallex conversion rate, Airwallex exchange rates and fees with those of Stripe.
Airwallex vs Stripe Fees and Charges
| Feature | Airwallex Fees | Stripe Costs |
| Setup Costs | No setup fee | No setup fee |
| Monthly Fees | No monthly fee for its Explore Plan provided the deposit or balance maintained is £10,000 (UK) / €10,000 (EU) | No monthly fee |
| Transaction Fees | UK Cards (Visa and Mastercard)- 1.3%+ £0.20 EEA Cards (Visa and Mastercard)- 2.4%+ £0.20 International cards- 3.15%+ £0.20 | UK Cards: 1.5% + £0.20 for standard UK Cards and 1.9% + £0.20 for premium UK Cards EEA Cards: 2.5% + £0.20 per transaction + 2% if currency conversion is required Non-EEA Cards: 3.25% + £0.20 per transaction + 2% if currency conversion is required |
| Chargebacks/Currency conversions | GBP 15 per chargeback request + additional charges imposed by the network FX Conversion Fee- 2% per conversion | Currency Conversion: 2% Chargebacks: £20 per dispute |
| Other Fees | Subscription Management - 0.40% per successful transaction Customised URL Payment Links - £8 per custom link per month UK Customers Local Transfer Fee (including BPAY and FPS) - £0 SWIFT (SHA) Transfer Fee - £10 per transfer SWIFT (OUR) Transfer Fee - £20 per transfer Bank Direct Debit - Bacs Direct Debit Fee 1% (GBP 2.00 cap) | In-Person Payments - EEA Cards- 1.4%+10p Non-EEA Cards - 2.9%+10p +10p per Tap to Pay authorisation Stripe link one-click checkout - 1.2% +20p for UK cards Bacs Direct Debit - 1% ( 20p up to £4 Instant payouts - 1% of volume, minimum 40p Invoicing & Billing - 0.4% per paid invoice and for billing - 0.7% of billing volume or £450 per month, 1-year contract Multi-currency settlement - 1% of payout volume or a minimum fee |
Settlement Times - Airwallex vs Stripe
Airwallex processes settlements periodically, and the timing depends on the payment methods and other factors. Depending on regional scheme rules, direct debit deposits usually take 2 to 11 business days to settle. For the SEPA transaction type, the settlement usually takes T+6 business days. Stripe, on the other hand, processes payouts on the T+3 schedule after the transaction date in the UK, Canada, Mexico and Europe region. It also offers instant payouts on any day or time, including weekends and holidays in countries like the US, Singapore, Canada, the UK, Australia, and the EU region.
Airwallex vs Stripe Customer Support
Airwallex payment gateway platform offers customer support through various channels, including online forms and phone support for specific regions. It also provides an extensive Help Centre to assist with common queries. However, the dedicated account manager and onboarding support are available only for its Accelerate and Custom Plans. It has a Trustpilot rating of 3.8, with many users praising its ease of use and global support, though some report concerns over transaction processing times.
Stripe offers 24/7 live chat and email support, an extensive Help Centre, and developer support on Discord. Paid plans offer dedicated account management and real-time API health updates. Despite its robust tools, a Trustpilot rating of 2.1 reflects users' concerns over delayed responses and account holds.
Airwallex vs Stripe - Is Stripe Better than Airwallex?
Airwallex excels in international operations, offering multi-currency accounts and cross-border payment capabilities that are ideal for global businesses. Stripe, which focuses on developers and enterprise solutions, offers robust payment processing tools, including in-person payments and advanced fraud detection. While Airwallex is better suited for cross-border financial services, Stripe shines with its user-friendly interface and extensive global reach.
Airwallex and Stripe Alternatives - Open Banking Payment Solutions like Noda
While Airwallex and Stripe provide extensive payment solutions, Pay-by-Bank transactions are rapidly gaining traction in the UK and EU. This payment method, powered by open banking, allows customers to pay directly from their bank accounts, offering businesses a cost-effective, seamless and fraud-resistant alternative to traditional card payments.
The Rise of Pay-by-Bank Transactions
The adoption of Pay-by-Bank transactions has grown significantly, driven by regulatory advancements such as the PSD2 regulation and increasing consumer demand for faster and more secure payment settlements. With 70% of consumers now linking their financial accounts to digital tools and 75% of businesses integrating open banking solutions, the shift towards direct bank-to-bank payments is accelerating. Unlike traditional card payments that involve intermediaries and high processing fees, Pay-by-Bank transactions provide direct bank-to-bank transfers with real-time payment confirmation.
How Noda’s Pay-by-Bank Solution is Revolutionising Payments
Noda is an advanced open-banking payment platform designed to help businesses reduce payment costs, enhance security, and increase transaction success rates. Unlike Airwallex and Stripe, which still rely heavily on traditional card payments, Noda harnesses the power of Pay-by-Bank technology, offering significant advantages:
- Up to 94% Payment Acceptance Rate: Noda’s Pay-by-Bank solution significantly reduces payment failures, ensuring high transaction approval rates compared to card-based payments.
- Lower Transaction Fees: Noda provides cost-efficient payment processing by cutting out intermediaries like card networks, making it a highly attractive option for merchants with high transaction volumes.
- Instant Settlements: While Airwallex and Stripe take a few business days to process settlements, Noda ensures real-time fund transfers, improving cash flow for merchants.
- No Chargebacks or Fraud Risks: Since payments are directly authenticated by the customer’s bank, there is no risk of chargebacks or fraudulent disputes, reducing operational risks for businesses.
- Seamless Integration with E-commerce Platforms: Noda offers API and plugin integrations for major platforms like WooCommerce, Magento and others, allowing businesses to implement Pay-by-bank with minimal development effort.
- Enhanced User Experience: Customers can complete payments in a few clicks without the need to enter card details or worry about expiration dates, improving checkout conversion rates.
Why Choose Noda?
Noda is an excellent solution for businesses in the e-commerce, travel, gaming, and SaaS industries that require fast, secure and low-cost payment solutions. With its seamless onboarding and prominent features such as “Noda Buffett” for local bank customisation, LTV prediction, and document-free identity verification, Noda is particularly beneficial for merchants dealing with cross-border transactions in the UK and EU.
Serving over 2,000 banks in 28 countries, including the UK, EU, Canada, and Brazil, Noda’s Pay-by-Bank technology is the ideal choice- offering unmatched advantages in speed, cost, and security.
Let’s explore your specific business needs and find the perfect payment processing solution for you. Contact us now for a free consultation – we’re happy to help!
