WorldFirst vs Stripe vs Airwallex
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We compare WorldFirst, Stripe, and Airwallex to get a sense of their features, fees, strengths and how they stack up against each other
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Key takeaways
- WorldFirst and Airwallex are multi-currency account providers for holding, converting, and sending funds across borders, while Stripe is a payment gateway for accepting customer payments online
- WorldFirst’s World Account supports 22+ currencies, payments in 100+ currencies across 200+ countries, and collections from 130+ global marketplaces
- Airwallex offers a global account with local receiving details in 20+ currencies across 70+ countries
- Stripe can accepts payments in 135+ currencies across 195+ countries but there’s no way to hold funds through a Stripe account
- WorldFirst and Stripe can work together: you can add local currency details from your World Account to your Stripe settlement accounts, so you can collect and hold multi-currency payouts without forced conversion
Singapore businesses with overseas customers, suppliers, or contractors usually need two things: a way to accept customer payments online, and a way to receive, hold, and send funds across multiple currencies.
WorldFirst, Stripe and Airwallex sit at different points in this flow: WorldFirst and Airwallex as multi-currency account providers for holding and transferring funds, and Stripe as a payment gateway focused on accepting customer payments. This WorldFirst vs Stripe vs Airwallex guide breaks down how each fits into cross-border payment workflows.
What is WorldFirst?
WorldFirst is a global payments provider built for international businesses. The World Account is a multi-currency account that lets Singapore businesses open local currency accounts in 22+ currencies, including USD, GBP, EUR, AUD and CNH. Funds can be received from overseas customers and 130+ global marketplaces in the original currency, held without forced conversion, and sent in 100+ currencies across 200+ countries. The account is linked to the World Card, a Mastercard-powered virtual debit card that draws from World Account balances. Businesses can issue up to 20 virtual cards at no extra cost, with no fees when paying in any of the 15 supported currencies, with sufficient balance held in that currency.
What is Stripe?
Stripe is an online payment gateway that enables businesses to accept payments across more than 195 countries in 135+ currencies.1 It supports 100+ payment methods.1 It is not a multi-currency account and functions as the payment acceptance layer between a business’s website or app and its customers by processing payments and settling funds to a nominated bank account.
What is Airwallex?
Airwallex is a global business account provider that lets companies open local currency accounts, manage FX, and make international transfers from one platform.2 It enables businesses to send, hold, and collect payments in 20 currencies across 70+ countries.2 Airwallex also offers corporate cards powered by VISA.3
WorldFirst vs Stripe vs Airwallex: Feature comparison
Multi-currency capability
The World Account is a multi-currency account that allows Singapore businesses to receive, hold, send and convert funds across 22+ currencies from a single account. Businesses get local currency account details for supported currencies which they can use to collect payments from 130+ marketplaces.
Stripe does not offer multi-currency accounts. It enables businesses to accept payments in multiple currencies through its payment gateway, then settles funds to a nominated bank account.¹ Where the bank account is in a different currency, Stripe converts the funds automatically at the prevailing exchange rate, with no option for the business to hold the original currency or choose when to convert.
Airwallex offers global accounts that let businesses collect and hold funds in 20+ currencies.² Local currency accounts can be opened, currencies converted at interbank FX rates, and international transfers managed from one platform.²
Sending and receiving payments
WorldFirst can open 22+ local receiving accounts for each supported currency. These account details can be added to 130+ marketplaces and payment gateways including Stripe, Amazon, and Etsy. Funds collected through the account stay in the original currency until the business decides to convert or spend them. Outbound payments can be made in 100+ currencies across 200+ countries, including to suppliers, employees and contractors. Transfers between two World Account holders are free and instant.
Airwallex follows a similar receive-hold-send model in 20+ currencies, with international transfers managed through its global accounts platform.² Local currency accounts can be added to platforms as settlement destinations, and funds can be converted when needed.² Read more in the Airwallex review and Airwallex alternatives.
Stripe processes customer payments through cards, digital wallets, bank transfers and BNPL methods, then settles funds to the business’s nominated bank account.¹ Stripe does not hold balances or support outbound payments to suppliers or contractors. Businesses can add World Account local currency details to Stripe as settlement accounts to receive payouts in the original currency.
Payments to China
WorldFirst offers local CNH account details and supports payments to suppliers in China. Businesses can pay suppliers in either CNH or USD directly from their World Account. World Pay is also the authorised international payment provider for 1688.com, allowing businesses to make supplier payments without opening a Chinese bank account.
Airwallex supports sending payments to China. Businesses can fund the account in SGD, convert to CNY, and send payments directly.² But there is no way to sup
Stripe is built for accepting customer payments and does not support outbound supplier payments to China or platforms like 1688.com.
Multi-currency cards
The World Card is a Mastercard-powered virtual business payment card linked directly to the World Account. Businesses can issue up to 20 virtual cards from a single account at no extra cost and spend in more than 150 currencies. When sufficient balance is held in the spending currency, no fees apply on any of the 15 supported currencies. If the required currency isn’t held, WorldFirst converts from another balance at competitive exchange rates.
Airwallex offers multi-currency Visa corporate cards with built-in spending controls. Employee cards and company cards are both available, with the number of cards each business can issue depending on the monthly pricing plan.³ Businesses can spend from held currency balances and manage card permissions through the Airwallex dashboard.
Stripe does not provide a multi-currency business payment card linked to a multi-currency account.
How WorldFirst and Stripe can work together
WorldFirst and Stripe sit at different stages of the payment workflow. Stripe handles the customer-facing side, accepting online payments through cards, digital wallets, bank transfers and other methods.
WorldFirst handles what happens to the funds afterwards: holding balances, converting currencies on the business’s terms, and paying overseas suppliers, contractors or platforms.
Your World Account actually integrates with Stripe along with 130+ other marketplaces and payment gateways. A Singapore business can open local currency accounts within the World Account (for example, USD, EUR and GBP), then add those account details to Stripe as settlement destinations. When a customer pays through Stripe, funds settle directly into the matching World Account currency balance, with no automatic conversion to SGD.
From there, the business holds the funds in the original currency, converts when the rate suits, or uses the balance to pay overseas suppliers and ad platforms in the same currency.
Power your global growth with one account
Get local currency accounts, fast payments and competitive FX – all in one place.
FAQ
Is Stripe the same as WorldFirst or Airwallex?
No. Stripe is a payment gateway that helps businesses accept customer payments online. WorldFirst and Airwallex are multi-currency account providers that allow businesses to receive, hold, convert and send funds internationally.
Can I use WorldFirst with Stripe?
Yes. Businesses can add local currency account details from the World Account to Stripe and use those accounts to receive Stripe payouts in supported currencies.
What's the difference between a multi-currency account and a payment gateway?
A multi-currency account allows businesses to receive, hold, convert and send funds across different currencies. A payment gateway enables businesses to accept payments from customers through methods such as cards, bank transfers, digital wallets and BNPL services.
Sources:
- https://stripe.com/en-sg/payments
- https://www.airwallex.com/en-sg/business-account/global-accounts
- https://www.airwallex.com/en-sg/spend-management/cards
- https://stripe.com/en-sg/pricing#standard-pricing
- airwallex.com/en-sg/pricing
The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.
Joan Poon leads marketing across Southeast Asia at WorldFirst, driving growth and brand leadership in key markets including Singapore, Malaysia and the Philippines.
Joan Poon
Author
Head of Marketing SEA, WorldFirst Singapore
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