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 (Responses)

09 February, 2017


Thanks for the detailed summary. Really helped my decision process. I’d already narrowed down to these two, am now swayed by eWay.

09 February, 2017

Helen Crozier

Since writing my post above I’ve been on a learning curve. This has been escalated by my decision to use Xero for my online accounting needs. Great app. Highly recommend it. Shouldn’t have waited so long. I used stripe for my first month of billing and suddenly after using xero I realised that the fact that Stripe do take their commission out of the payment sent to you (7 days later) is actually a problem.
Trying to balance Xero was time consuming and annoying!! I am now in the process of setting up with eWay. Their CEO reached out to me to assure me my initial experience was one that was not the norm and that as a company they place customer satisfaction at the top of their priority. I’m happy to try them out and also enjoy receiving funds immediately rather than having to wait 7 days as I currently do with Stripe.

09 February, 2017


Hi there Sue,

When you applied to eWAY all of our merchant services was underwritten by a bank and we had to follow their own risk analysis and document requirements.

We’re now able to do our own risk assessment and can activate accounts within 10 minutes of applying.

I’m truly sorry you had a negative experience with eWAY and I assure you that we take all feedback on board – I’ll be making our executive team aware of yours so that they can address it.

If you’d like to take advantage of our current pricing (it’s the lowest in the industry) we’d welcome the opportunity to win back your trust and provide your merchant services facility. Please don’t hesitate to call us if we can help with anything else.

Kind regards,


09 February, 2017


This is my experience of eWay and this review is written as my own personal opinion. The business I work at approached eWay prior to seeing this article and was advised that it would take 4 business days to do a merchant facility. I work at a company running over 10 years doing a large volume of transactions with No Chargeback in our history after over 10 years in online sales. Our company has not loans and is a viable going concern, we are a recognise worldwide brand. eWay took over 6 day just to come back and ask for more unrelated information (in our opinion) for example how many employees we had in each country, totally unrelated to the merchant facility requirements. No bank had perviously asked this information and we checked with our legal department, it was not required for the application. As we are a well known brand we closely guard our business operations as in our experience when we have been fully open on business operations such as employee number in locations, we have often had a competitor set up in competition. This company needed more than a bank did for a loan, and we were asked more and more information that was in our opinions totally unrelated to setting up of a merchant facility. After 8 days of being asked unrelated questions to the Merchant Services Application and process which was in our opinion clearly a data fishing expedition we went to another merchant facilitator (eWay’s opposition) and was surprised at how easy the process was to change over Merchant facilitators. In my opinion your article is very good and I had only wished I had seen it prior to doing the application with eWay. Based on my own experience I would never recommend any business use eWay.

09 February, 2017


Hi JM,

eWAY’s API used to be fairly basic but in the last couple of years has been updated to be on the same level as Stripe. Check out the new docs here – Lots of RESTful goodies!


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