Airwallex, a global financial platform, has acquired OpenPay, a San Francisco-based billing platform specializing in subscription management, payment orchestration, and revenue analytics, to integrate these capabilities into its global platform.
The acquisition aims to strengthen Airwallex’s position against competitors like Stripe Billing and Recurly, enabling its customers to automate revenue growth. Jack Zhang, Co-founder and CEO of Airwallex, commented that most existing billing systems are not designed for a global, multi-currency environment. He stated that by integrating OpenPay’s subscription management, orchestration, and analytics, Airwallex is creating what he describes as the first truly global billing platform.
OpenPay is recognized for automated features such as smart payment routing, AI-driven retention tools, real-time insights, and comprehensive subscription management for tiered, usage-based, and flat-fee models. The demand for hybrid and usage-based billing, which links pricing to actual product usage, is increasing among AI companies and other consumption-led businesses that monetize by tokens, calls, or compute. The integration of OpenPay will allow Airwallex to offer built-in usage-based billing that functions across different borders and currencies.
Lance Co Ting Keh, CEO of OpenPay, explained that the company was founded to address the complexities of recurring revenue management with a platform designed for scalability. He noted that Airwallex shares their vision and possesses the global reach to implement their work broadly. Through this integration, Airwallex intends to establish the first truly global billing platform, aiming to reduce costs, increase revenue, and facilitate borderless subscription scaling for businesses.
The financial terms of the transaction were not disclosed.
Airwallex is a financial platform that leverages proprietary infrastructure with software and AI to manage accounts, access capital, control spend, and embed financial services for businesses. Founded in Melbourne, it serves over 150,000 businesses globally, including TikTok, Rippling, Navan, Qantas, and SHEIN. OpenPay is a comprehensive SaaS platform designed to streamline subscription management and optimize payment workflows, offering automated billing, failed payment recovery, and detailed analytics.
