Cross-border payments platform Airwallex has acquired San Francisco-based billing platform OpenPay for an undisclosed sum, with plans to integrate OpenPay’s subscription management and revenue analytics features into its own platform by Q4 2025.
OpenPay, founded in 2023 and led by CEO Lance Co Ting Keh, offers a Software-as-a-Service platform. Its core functionalities include subscription management, payment orchestration, and revenue analytics. The company has developed automated features such as smart payment routing and AI-powered retention tools, alongside a subscription management system that bases pricing on product usage rather than a seat-based model. OpenPay’s client roster includes companies like Helius, Thinkster, and Indigo.
Airwallex will make OpenPay’s billing and analytics capabilities available to all new and existing customers by the fourth quarter of 2025. Airwallex states that this integration is intended to position the company to compete directly with established services such as Stripe Billing and Recurly.
Valued at over $6.2 billion, Airwallex provides a suite of financial products globally, including expense management, bill payments, corporate cards, money transfers, multi-currency accounts, and payment plugins. The fintech serves more than 150,000 businesses worldwide, with notable clients including Bolt, Qantas, and Xero. This acquisition follows other strategic moves by Airwallex, such as the purchase of CTIN Pay in Vietnam in March to secure a Vietnamese payment license, obtaining Australian Financial Services Licence approval in July 2024, and its entry into the Latin American market in 2023 through the acquisition of Mexican payment service provider MexPago.
