All a business needs is a crypto wallet to accept and store cryptocurrency. However, while you can charge a fixed amount in crypto, many businesses prefer to set prices in fiat (including AUD, USD, NZD) and accept crypto at the real-time exchange rate to avoid crypto price swings, and simplify tax obligations.
These are some of the best platforms for accepting crypto payments in Australia:
- Independent Reserve + RelayPay – best for AUD settlement and invoicing
- Banxa – backend crypto-to-AUD conversion for platforms
- Bitpay – broadest crypto support and e-commerce integrations
- NOWPayments – a lightweight, stablecoin-based solution with fast setup
- Pundi X (XPOS terminal) – dedicated, though niche, POS terminal for physical retail
Options for accepting crypto payments in Australia
Independent Reserve + RelayPay
Australian-based crypto exchange Independent Reserve partnered with RelayPay to ensure businesses can accept cryptocurrency payments seamlessly, with RelayPay managing the conversion and settlement process, and Independent Reserve providing the necessary crypto liquidity.
Key features:
- Automatic crypto-to-fiat conversion (including AUD, NZD, SGD, USD and more)
- Support for both online checkouts and in-person transactions
- Customisable payment pages with business branding
- AUSTRAC-registered
- Local settlement and enterprise security standards
- Shopify, WooCommerce and Magento plugin support
Usability: Businesses can issue invoices or accept in-person payments using embedded links or QR codes that direct customers to branded payment pages. Crypto payments are converted to dollars and settled to the business’s bank account.
Ideal for: Australian and New Zealand businesses requiring formal billing solutions, including B2B companies, contractors, and professional services.
Fees: 1.95% transaction fee.
Banxa
Supported cryptocurrencies: Major cryptocurrencies (including BTC, ETH, LTC, BCH, and DOT) and stablecoins.
Banxa is a Melbourne-based fiat-to-crypto conversion platform. Similarly to the RelayPay service, customers pay in crypto through Banxa’s system, and Banxa pays the business in fiat, including AUD.
Key features:
- Converts crypto payments into AUD automatically
- Can be added to an existing online checkout
- Does not offer invoicing or payment links
- ASX-listed; AUSTRAC-registered with enterprise-grade compliance and security protocols
Usability: Banxa uses an API-based approach that lets developers add crypto payment options to existing checkout flows. It does not include invoicing or payment links. It offers flexibility for custom workflows, and setup may require technical support.
Ideal for: Businesses seeking crypto-to-fiat conversions within their existing checkout processes, such as e-commerce platforms and fintech applications.
Fees: Vary by payment method (e.g., 1.99% for Visa/Mastercard).
Bitpay
Supported cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Dogecoin, Litecoin, XRP, popular stablecoins (e.g., USDT and USDC), and a wide range of ERC-20 tokens (including Shiba Inu).
BitPay is a US-based crypto payment platform that supports both online and in-person transactions. It allows businesses to accept a wide range of cryptocurrencies and settle payments in many currencies.
Key features:
- Invoicing and billing tools
- Hosted checkout pages with customer branding
- AUD settlement support
- POS app (BitPay Checkout) for in-person payments via QR code
- Plugins for Shopify, WooCommerce, Magento, Wix, and others
- Regulated under US FinCEN; with enterprise security standards
Usability: BitPay’s dashboard lets merchants issue invoices, track payments, and manage settlements. In-person payments are handled via the BitPay Checkout app, which displays QR codes customers scan to pay. This is a practical option for teams comfortable with mobile-based tools.
Ideal for: Global retailers, online merchants, and service providers seeking a comprehensive crypto payment solution with broad cryptocurrency support.
Fees: 1–2% + $0.25 per transaction, depending on monthly volume.
NOWPayments
Supported cryptocurrencies: 200+ cryptocurrencies, including Bitcoin, Ethereum, XRP, ADA, and a wide range of ERC-20 tokens.
NOWPayments is an international crypto payment platform that allows businesses to accept a wide range of cryptocurrencies through hosted links and plugins. Unlike RelayPay or BitPay, it does not support direct fiat settlement but allows conversion to stablecoins for later withdrawal.
Key features:
- Hosted payment pages and donation links for quick setup
- Plugins for Shopify, WooCommerce, Magento, and others
- Automatic conversion to stablecoins (e.g. USDT)
- Partial API support for recurring billing and subscriptions
- Non-custodial model (i.e., merchants receive payments directly to their crypto wallets)
Usability: Businesses can begin accepting crypto with minimal setup using hosted links or platform plugins. The interface is user-friendly, but lacks invoicing tools or local settlement, requiring a separate exchange for withdrawals.
Ideal for E-commerce stores, donation platforms, and small businesses that need a simple crypto payment tool without the complexity of formal invoicing or fiat settlement.
Fees: 0.5% to 1% depending on services used.
Pundi X (XPOS terminal)
Supported cryptocurrencies: Bitcoin, Ethereum, BNB, stablecoins (e.g. USDT), and select ERC-20 tokens (via the Pundi X ecosystem).
Pundi X provides a standalone crypto point-of-sale terminal designed for in-store use. The device supports card and QR code payments, with transactions settled in fiat-pegged stablecoins. While adoption in Australia has been limited, it remains a niche option for merchants seeking a dedicated crypto hardware solution.
Key features
- Hardware POS terminal for crypto payments
- Card and QR code support
- Stablecoin settlement (not fiat)
- Operates independently; AUD conversion requires an external exchange
- Requires use of the Pundi X network
Usability: The terminal operates independently of other systems and includes a built-in interface for processing crypto transactions within the Pundi X ecosystem. Settlement is in stablecoins, and converting to AUD or other fiat requires a separate crypto exchange.
Ideal for: Brick-and-mortar retailers or kiosks wanting a self-contained crypto POS system with minimal integration requirements.
Fees: Merchant-set between 1% and 5%; standard service fee of 1%. The upfront cost of approximately USD $499 per terminal.
Tax and compliance
Australia tax obligations depend on how you receive and manage crypto:
- GST applies to the goods or services sold, not the crypto itself.
- Crypto is treated as income at the AUD value at the time of sale.
- You must keep records of the date, AUD value, and counterparty.
- No CGT applies if you convert crypto to AUD immediately.
Independent Reserve simplifies record-keeping and compliance for businesses with integrated services.
Should my business accept crypto payments?
The short answer is: it depends. Crypto payments are becoming more common and open your customers to a wider range of payment options, but this payment method is generally best suited for companies with digitally savvy customers.
Benefits include:
- Appeal to crypto holders looking to spend
- Accept fast, borderless payments
- Eliminate chargebacks
- Receive AUD instantly – no volatility risk
- Show innovation in your industry
Start accepting crypto payments
If you are looking to start accepting crypto payments in Australia, we cater to businesses and institutions.
Simply contact an Independent Reserve relationship manager, and we will be in touch within one business day to discuss.
