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


Have used eWay in the past but they have a set of antiquated APIs that make it hard for custom development if you’re not just another shopping site.

Will be using Stripe or something similar going forward, there REST API’s are much simpler to use.

09 February, 2017


If you use eWAY – have a backup merchant account!!!!

We are a registered training organisation in Melbourne. We’ve been registered since 2012, with 8 staff and annual revenues of $750,000. Above 95% of our revenue comes through subscriptions (recurring payments) through Infusionsoft via eWAY – until last Wednesday.

Last Wednesday, eWAY ‘suspended’ our account without any notice, and without letting us know.

So since last Wednesday our business has had NO revenue.

I only became aware of this because Infusionsoft sent a bunch of ‘transaction declined’ emails (Good old Infusionsoft!). When I contacted eWAY it took 4 phone calls, 2 emails and 2 FB messages, over an entire day, before I spoke with someone who would tell me what was going on.

The person I spoke with apologised for the inconvenience(!), and said that as we are in the Education sector we had been flagged as ‘too risky’. We have not had a single disputed transaction, or any complaints or greivances from a single client. Ever.

As far as I can tell, this risk assessment was triggered by our revenues increasing beyond some threshold. This is only speculation because eWAY wouldn’t or couldn’t tell us why.

So now we have a business, with lots of customers, and no income. Our entire staff will spend the next week contacting all our customers individually and setting them up on new payment plans using Paypal. Hopefully we’ll manage this before we become insolvent.

It’s incredible to me that:

a) eWAY terminated our account based on some algorithm, in the absence of any adverse incident, ever.

b) eWAY did not see fit to give us any advance notice that our account was being reviewed, or that we would suddenly find ourselves without any source of revenue

c) eWAY did not notify us that our account had been terminated – we had to figure it out for ourselves.

d) It took me a full day to get someone from eWAY on the phone to tell me our account was terminated, not just temporarily suspended.

If you use eWAY – have a backup merchant account!!!!

09 February, 2017


Thanks for the article, first thing I came to when I was researching this. I ended up signing with Stripe tonight, because the process was a lot easier (and instant). And because our developers will find it a lot easier to integrate payment systems in our apps.

A few minutes after I signed up, I received an email saying that the pay-out schedule has been changed to 2 days instead of 7, so I’m very happy about that. I’m not sure if that was random or if it’s for everybody, because their home page says 7 days before you sign up for an account.

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