What are Airwallex and Wise Business
Airwallex is a global fintech platform for businesses with card issuing, multi-currency accounts, mass payouts, and payment processing. Founded in Australia, operating in 150+ countries.
Wise Business (formerly TransferWise) is a multi-currency payment and account service for businesses. Known for transparent exchange rates and low transfer fees.
Key Differences
- Focus: Airwallex is a full-featured financial platform for business; Wise is primarily a transfer tool.
- Cards: both issue corporate Visa/Mastercard cards, but Airwallex offers more capabilities for teams.
- Payment processing: only Airwallex offers payment acceptance (payment gateway).
- API: Airwallex API is significantly more powerful for automation.
Comparison Table
| Parameter | Airwallex | Wise Business |
|---|---|---|
| USD/EUR/GBP accounts | Yes | Yes |
| Virtual cards | Yes (team) | Yes |
| SWIFT transfers | Yes | Yes |
| Payment acceptance | Yes (acquiring) | No |
| Conversion fee | from 0.5% | from 0.41% |
| Outgoing SWIFT | $15–25 | £3.69–5.50 |
| Mass payouts | Yes | Yes (batch) |
| API | Powerful | Limited |
| Non-residents from Russia | No | Limited |
| Supported countries | 150+ | 80+ |
Step-by-Step Comparison for Decision Making
- Need payment acceptance? → Airwallex (Wise doesn't offer it).
- Need transfers with minimum fees? → Wise Business is usually cheaper for small amounts.
- Need corporate cards for a team? → Airwallex with roles and per-card limits.
- Need API integration? → Airwallex with webhooks and a full SDK.
- Pay freelancers worldwide? → Wise for mass payouts to individuals.
FAQ
Can both services be used simultaneously? Yes, and this is common practice. Airwallex for payment acceptance and corporate cards, Wise Business for personal team transfers and currency exchange.
Which countries are not supported? Airwallex does not work with Russia, Belarus, Iran, North Korea, and several other sanctioned countries. Wise also restricted operations with Russian residents after 2022.
Are there hidden fees in Airwallex? The main fee is for currency conversion (0.5–1%). Additionally: $15–25 for outgoing SWIFT. Incoming transfers and internal transfers between Airwallex accounts are free.