Stripe vs eWay

A war has erupted on the Australian online payments scene

The incumbents will tell you that they welcome the competition but have no doubt, it's game on. 

Let's compare Stripe vs eWay and work out what's the best fit for your ecommerce business.

Stripe officially landed on our shores in 2014 after months of beta testing, promising easy set up, multi-currency support, strong payments reporting and beautiful checkout experiences.

eWay - the Aussie online payments powerhouse that processes payments for a the majority of the stores that you shop, came out and questioned Stripe's image of innovation, claiming to have been offering many of the same features for years.

With the battle emerging, we've evaluated how each platform compares

Stripe is positioning itself as the developers choice, giving them the documentation and frameworks to make their own checkout experiences rather than the out-of-the-box solutions that most checkout flows end up as. Meanwhile, eWay is focusing on support and fraud protection, both areas that we've seen eWay handle quite well.

Stripe vs eWay comparison (updated 21/7/2016)

eWAY eWAY (+ bank) Stripe

Same Day or Next Business Day*

Same Day or Next Business Day*

*UPDATE* - Held for 2 days
Monthly fees

No setup or monthly fees

No setup or monthly fees

No setup or monthly fees
Transaction fees

2.6% Per Transaction (All cards included - domestic & international)

60 cents per transaction - volume discounts available

Domestic: 1.75% of transaction + 30c per transactionInternational: 2.9% of transaction + 30c per transaction
Refund fees

Your cost per transaction (e.g. 30cents)

Your cost per transaction (e.g. 60cents)

No refund costs + they'll refund original charge fees
Disputes Handled by the bank Handled by the bank $25 fee for chargebacks. If resolved in your favour, the fee is refunded
Subscription billing Yes

Yes, eWAY can help you contact your preferred bank to start the process

Setup Up and running in 4 - 6 days Can take 7 - 15 days to set up and requires a bank account with a merchant facility enabled. Instant
Xero Yes Yes Yes
Require merchant system

No. eWAY sets everything up for you.

Yes, eWAY


Yes, but you must open separate accounts for each currency that you wish to accept.

If you use NAB as your merchant facility you can take payments in many currencies, but you must open separate accounts for each currency that you wish to accept.


24/7 Phone, Chat & Email Support

24/7 Phone, Chat & Email Support

Email Support
Integration WooCommerce, Shopify, Magento and more WooCommerce, Shopify, Magento and more WooCommerce, Shopify, Magento and more

eWAY says:

Matt Bullock, Founder and CEO of eWay welcomed the competition in the payments space but questioned the way that Stripe's launch had been covered.


"The fact that Stripe holds funds for seven days shows clearly that they don’t understand the needs of Australian businesses. Their lack of phone support, growth restrictions, and slowness in releasing funds are a real problem.

On top of that, a lot of the things they claimed as unique, like their developer-friendly API, end-to-end facilities, easy setup, are all matched or exceeded by eWAY. We have the heritage of 16 years of local operation, over 15,500 customers, billions of dollars in transactions handled, NAB-support, and hundreds of partners.

We love competition, and we’re confident we can go toe-to-toe with any payments provider, whether it’s home grown or international. But any business looking for a payment facility to help grow their operation, needs to ensure they are comparing apples with apples."

UPDATE: Since the time this article was first published - Stripe has reduced their settlement time to 2 days.

Stripe says:

Kelly Sims of Stripe was keen to clear things up with their multi-currency differences.


"But one thing Mr. Bullock seems especially distressed (and misinformed) about though is multi-currency support. As far as we know, Stripe is the only payment company in Australia today that allows Australian businesses to begin processing credit cards in over 110 different currencies from day one, and never need to go through the hassle of setting up separate merchant facilities or currency accounts.

The most important difference is that Stripe is a set of modern APIs and tools that allow developers full control over the look and feel of the entire payments experience. Being developers ourselves, we're also pretty zealous about data portability and believe that we should keep customers with us by offering a better product rather than locking them in.

All that said, we are very happy to compete with anyone who shares the goal of increasing the total amount of commerce that takes place online, helping companies get started, and enabling new business models."

Bottom line in the Stripe vs eWay battle

Choose eWay if:

  • You need your money right away, Stripe's 2 day settlement might be enough to turn you away
  • You're in an industry plagued by fraud and you want daily fraud reports
  • You love Aussie business and accept all of your payments in AUD
  • You have a very high volume of transactions, primarily from Australians
  • You want to on-charge credit card fees on invoices (possible via the Xero integration)

Choose Stripe if:

  • Your checkout experience is most important to you and you have a developer to fine-tune and reduce abandonment, etc.
  • Most of your sales are domestic
  • You need to accept money directly in many different currencies
  • You're expanding globally quickly and doing more than $40,000 per month as custom pricing plans are available
  • You want to get started quickly and easily (eWay's sign-up can take up to a week... as it did in our case!)

Comments (18 Responses)

28 February, 2019


Warning! Do not learn the hard way if you are a newbie to eCommerce AVOID eWay!

Unlike PayPal or Stripe they will data fish you for unrelated information on your business like suppliers and lots of financial and business information, more than would even be required for a bank lending you money! The API’s are not comparable to that of Stripe or others and the set up time is ludicrous if you ever want to scale your business beyond domestic market or sell your business you may run into issues with data extraction etc.

Unless you are an Australia only business then the eWay badge and verification will make you look a bit local mom and pop store as they are not recognized by overseas customers and are limited in international currencies which can lose you customer transactions. As mentioned by other operators on this post who have learned the eWay hard way if you are naive enough to use them then please have a back up service preferably PayPal if your are operating internationally or want market place customers from eBay where PayPal is the norm and they can checkout without having to enter details, which is becoming more and more common with tablet and mobile commerce.

Please don’t make the rookie mistake and have eWay verification badge & checkout on your site you may come to regret it later on, set your business up primed for success with the international industry standards from the beginning…

28 February, 2019


Our company has been selling online for nearly 10 years, our experience with eWay was terrible, one of the worst and most in- efficient signup processes we have ever experienced. Very much out of line with competitors Stripe or PayPal.

Be warned eWay will ask you for a lot of information that is not relevant, ie: cash flow projections, information on who your suppliers are and more! This is a stark contrast to the other options that are friendly to internet start ups and savvy entrepreneurs which tend to look at the important metrics of an online business such as market place transaction feedback, social media customer satisfaction, order fulfillment etc. eWay is like dealing with a bank from the 1990s in comparison.

eWay may be detrimental to your business if you sell internationally as they are limited in currency exchanges, have little international marketplace recognition, and higher fees. So it may be a grudge match in the small territory of Australia but in reality, there is no real comparison as the other options aside from eWay are out servicing and out valuing them on almost every level.

eWay may be an option if you a running a local Australian centric business with no desire to expand but why limit yourself and waste time jumping through hoops when you have more modern streamlined, developer friendly options that can get you up and running in a matter of hours with less fees taken from your till..

10 July, 2017


We have been operating and eCommerce business to great success for over 8 years. eWay was the biggest hassle and pain in the ass we have ever experienced in trying to get set up. As mentioned by another astute operator the paperwork and information required is ludicrous and not even related to running a merchant till. After 5 weeks yes 5 weeks bank statements, tax returns, supplier information and more!! Living in the dinosor age of global international eCommerce. Stripe and PayPal will do you fine we have put millions of dollars of sales through these channels and they can set you up in very little time. If you are an ecommerce newbie then please learn from thos who have survived adn been around the block eWAY is not a good modern fit for your business. eWay -sLOW Way.

04 July, 2017



I’m looking to take online payments for a web design and marketing business.

These payments could take many forms from pay on invoice, to paying a deposit online (i.e. 50%) to recurring payments.

In researching this, I narrowed my search down to Stripe and eWay (with PayPal as a backup)… and found this article comparing the 2.

Given how similar they appear to be to most of the people commenting above… the decider for me will come down to which of them is superior vs Recurring Payments.

I require Recurring Payments as follows…

- $X upfront, $Y month to month (not fixed).
- $X upfront, $Y month to month (fixed term).
- Free Trial Period for X months, $Y month to month (fixed/not fixed).

Quite literally… in the absence of the Recurring Payments requirements I can’t pick between them.

Any thoughts…?


30 March, 2017

Jonathan Horne

Warning regarding eWAY – Don’t get locked in!

I have been a loyal customer of eWay for 5+ years, and after the successful sale of my business the new owner had a provision that payments needed to be moved to Stripe. I requested to transfer my 10K+ customers in a PCI compliant way to Stripe however eWay are hiding behind their terms and conditions to prevent the transfer of clients to another payment facility.

Basically, the minute you start using eWay you are locked into using them for life.

See the “Transfer Away” policy for Stripe, BrainTree below:…


eWay’s resolutions if you ever want to execute your right to choose another provider is:

“As per our discussion, eWay is unable to extract and distribute this personal information from our system as we need to adhere to our Information security policy and PCI compliance requirements.”

I suggest you find out for yourself and call eWay and ask how you can move to Stripe or any other provider should you wish.

Leave a comment (all fields required)

Comments will be approved before showing up.