Software Comparison
Airwallex vs Soldo - Irish fintech Software Compared
Choosing between Airwallex and Soldo is one of the most common decisions Irish businesses face when evaluating fintech software. This comparison breaks down everything an Irish SME needs to know, from Revenue integration and GDPR data residency to pricing and ease of use.
Last checked: 08 Jun 2026 data estimated for at least one vendor - confirm with the vendor Methodology
Quick Verdict
Airwallex wins for Irish SMEs whose core need is global payments: exporters, ecommerce sellers paying APAC suppliers, and SaaS companies billing across multiple currencies will benefit most from its local receiving accounts in 50-plus currencies and near-mid-market FX rates, which materially undercut traditional Irish bank margins.
Airwallex vs Soldo - Feature Comparison
| Feature | Airwallex | Soldo |
|---|---|---|
| Irish Regulatory Status | Airwallex (Netherlands) BV authorised by De Nederlandsche Bank; passports services into Ireland under the EU single market regime. Central Bank of Ireland is host supervisor only. | Soldo Financial Services Ireland DAC directly authorised by the Central Bank of Ireland as an e-money institution (reference C179925). No passport arrangement - Irish entity holds the licence. |
| IBAN Type Issued | Dutch (NL) IBAN issued to Irish business customers. SEPA prohibits IBAN discrimination in principle, but payroll and SEPA Direct Debit creditor setups run more smoothly with an IE IBAN. | IE-prefix IBAN issued via the Irish DAC (BIC SFSDIE22). Reduces friction for SEPA top-ups reconciled against AIB or Bank of Ireland statements and for Revenue audit purposes. |
| Multi-Currency and FX | Local receiving accounts in EUR, USD, GBP, AUD, NZD, HKD, SGD, CAD, JPY and 50-plus other currencies. Near-mid-market FX rates. Strongest economics for APAC supplier payments and export invoicing. | Multi-currency wallets available on Plus tier and above. FX margins are functional for occasional spend but are uncompetitive for businesses paying international suppliers regularly. |
| VAT Handling | No VAT handling. Airwallex does not auto-detect or categorise Irish VAT rates on transactions. | OCR receipt capture on the Plus tier and above auto-detects Irish multi-rate VAT (23 per cent, 13.5 per cent, 9 per cent). Standard rate detection on the Standard tier. |
| Accounting Integrations | Native integrations with Xero, NetSuite, and QuickBooks. Sage integration is partner-mediated rather than direct. | Native integrations with Xero, QuickBooks Online, Sage Intacct, NetSuite, Microsoft Dynamics 365, Exact Online, DATEV, SAP Concur, and TravelPerk. |
| Spend Controls and Card Management | Business debit and virtual cards available with standard controls. Primary value proposition is FX and international payouts, not departmental spend management. | Per-card budget limits, merchant category restrictions, time-based rules, and approval workflows applied at card issuance. Departmental wallet structure suits multi-team or site-based Irish SMEs. |
| Revenue and PAYE Modernisation | No Revenue Online Service integration and no PAYE Modernisation handling. Airwallex is a banking and FX product. | No Revenue Online Service integration and no PAYE Modernisation handling. Soldo is a card and expense product. |
Irish Compliance and Pricing Matrix
A side-by-side data comparison of pricing and Irish regulatory compliance for Airwallex and Soldo. Values are derived from each vendor's published data and verified weekly.
| Requirement | Airwallex | Soldo |
|---|---|---|
| Pricing | ||
| Starting price | Free tier available | From €21/month |
| Pricing model | Usage-based | Monthly flat rate |
| EUR pricing guaranteed | ✗ | ✗ |
| Free trial | ✓ | ✗ |
| Irish Compliance | ||
| Revenue (ROS) integration | ✗ | ✗ |
| PAYE Modernisation | ✗ | ✗ |
| Irish bank feeds | ✗ | ✗ |
| Bank compatibility | SEPA Credit Transfer | None listed |
| SEPA direct debit | ✓ | ✓ |
| Irish IBAN support | ✗ | ✓ |
| VAT handling | ✗ | ✓ |
| EU data residency (GDPR) | EU only | EU only |
| Irish support | ✗ | ✗ |
| Revenue-approved | ✗ | ✗ |
| CBI regulated | ✗ | ✓ |
Irish Compliance Comparison
For Irish businesses, compliance with Revenue, GDPR, and local banking standards is non-negotiable. Here is how Airwallex and Soldo compare on the requirements that matter most to Irish SMEs.
Revenue Integration
Neither Airwallex nor Soldo offers native Revenue Online Service integration. Irish businesses in fintech may not need this feature directly, but should ensure their accounting software handles Revenue compliance separately.
Irish Bank Feeds
Airwallex supports SEPA Credit Transfer. Soldo supports no Irish banks directly. Airwallex has broader Irish bank compatibility, which matters if you bank with SEPA Credit Transfer - you will get automatic bank feeds or SEPA payment file support that Soldo cannot offer.
GDPR Data Residency
Both Airwallex and Soldo store data in EU data centres, providing strong GDPR compliance out of the box. Irish businesses can use either platform without worrying about cross-border data transfers to the US or other non-EU jurisdictions.
SEPA and IBAN Support
Both Airwallex and Soldo support SEPA Direct Debit and Irish IBAN format. This means you can process euro payments, set up direct debits, and handle bank transfers in the standard European format without any manual workarounds.
VAT Handling
Soldo includes Irish VAT handling for return preparation and submission. Airwallex does not handle VAT natively - Irish businesses using Airwallex will need their accounting software to manage VAT obligations separately.
Pricing Comparison
All prices below are in euro. Pricing can change - we verify vendor pricing weekly, but always confirm on the vendor's website before purchasing.
Airwallex
Free tier
- Pricing model: Usage-based
- Free trial: Yes
- EUR pricing guaranteed: No - may fluctuate with exchange rates
Soldo
€21 /mo
- Pricing model: Flat rate
- Free trial: No
- EUR pricing guaranteed: No - may fluctuate with exchange rates
Airwallex does not publish entry-level pricing - request a quote directly. Total cost of ownership depends on users, plan tier, add-ons and features, so always calculate the full annual cost for your team size before committing.
Who Should Choose Airwallex
Airwallex is the better fit if your business matches one or more of these profiles:
- ✓ Businesses banking with SEPA Credit Transfer who want reliable bank feed or payment file support
- ✓ Those who value: global multi-currency wallets across 50+ currencies with near-mid-market fx for irish exporters and ecommerce sellers paying apac suppliers.
- ✓ Those who value: authorised emi under dnb (netherlands) with eu data residency; safeguards customer funds in segregated accounts at credit institutions.
Who Should Choose Soldo
Soldo is the better fit if your business matches one or more of these profiles:
- ✓ Those who value: soldo financial services ireland dac is directly authorised by the central bank of ireland (e-money institution c179925), not passporting in from another eu state.
- ✓ Those who value: issues ie-prefix ibans via the irish dac, which removes friction for revenue, payroll, and sepa direct debit creditor setups versus pleo (dk), spendesk (fr) and payhawk (bg).
- ✓ Those who value: departmental wallet structure suits irish smes with multiple cardholders, project-based spend, or per-vehicle and per-till spend in retail and hospitality.
Our Verdict
Airwallex wins for Irish SMEs whose core need is global payments: exporters, ecommerce sellers paying APAC suppliers, and SaaS companies billing across multiple currencies will benefit most from its local receiving accounts in 50-plus currencies and near-mid-market FX rates, which materially undercut traditional Irish bank margins. Soldo wins for Irish SMEs in the 20 to 500 staff range that need departmental spend control, per-card budget limits, and merchant category restrictions, and where the decisive Irish differentiator is Soldo Financial Services Ireland DAC being directly authorised by the Central Bank of Ireland (reference C179925) and issuing IE-prefix IBANs, which reduces friction for SEPA Direct Debit creditor setups and Revenue audit trails compared to Airwallex's Dutch NL IBAN. Soldo also has a clear edge on VAT handling, with OCR receipt capture auto-detecting Irish multi-rate VAT (23 per cent, 13.5 per cent, 9 per cent) on the Plus tier, where Airwallex offers no VAT handling at all.
Neither vendor has native Revenue Online Service or PAYE Modernisation integration, and neither offers deposit insurance, as both are e-money institutions that safeguard funds in segregated accounts at credit institutions rather than holding banking licences. For Irish teams that primarily need FX and international payouts, Airwallex is the stronger layer; for teams that need controlled employee card spend reconciled through Xero or Sage Intacct, Soldo is the more appropriate fit.
Ultimately, the best choice depends on your specific business needs, team size, and priorities. We recommend taking advantage of free trials from both vendors before making your final decision. If you are working with an Irish accountant or payroll bureau, ask which platform they prefer - their familiarity with the software can save you significant time and hassle during setup and ongoing support.
Not sure which is right for you?
Our AI-powered recommendation engine analyses your business size, sector, and priorities to suggest the best software stack for your Irish business - in under 60 seconds.
Try Our Free Recommendation Tool →Frequently Asked Questions
Is Airwallex or Soldo better for Irish SMEs?
Which is cheaper, Airwallex or Soldo?
Does Airwallex or Soldo have better Irish bank feeds?
Which has better GDPR compliance, Airwallex or Soldo?
Can I switch from Airwallex to Soldo?
Not sure which one fits?
Share your email and we'll send tailored guidance based on this comparison.
You're on the list.
Irish software updates, weekly. No spam.