David Versus Goliath: Airwallex acquires OpenPay to compete directly with Stripe Billing 

Airwallex, a leading global financial platform for modern businesses, announced the acquisition of OpenPay, a San Francisco-based billing platform that offers subscription management, payment orchestration, and revenue analytics. The acquisition will bring OpenPay’s billing and analytics capabilities into Airwallex’s global platform, strengthening Airwallex’s position against other players like Stripe Billing and Recurly, and empowering Airwallex customers to unlock and automate revenue growth.

“Most billing systems are locked in the past, they were never designed for a global, multi-currency world. That’s the gap we’re closing,” said Jack Zhang, Co-founder and CEO of Airwallex.

“By bringing OpenPay’s subscription management, orchestration, and analytics capabilities into Airwallex, we’re creating the first truly global billing platform. The OpenPay team brings deep technical strength and a shared conviction in our vision, and we’re thrilled to have them on board as we help businesses scale seamlessly across borders.”

“We started OpenPay to solve the complexity of recurring revenue management. We envisioned a smarter, more intuitive platform that empowers subscription businesses to scale without barriers,” said Lance Co Ting Keh, CEO of OpenPay. “In Airwallex, we found a partner who shares our vision, our DNA, and has the global reach to apply our work at scale. We are very proud of what we’ve built and excited for our next chapter as we partner with Airwallex to set a new standard, creating a paradigm shift in global payments.”

OpenPay has distinguished itself through its development of automated features like smart payment routing, AI-driven retention tools, real-time insights, and subscription management for tiered, usage based, and flat fee models. Demand for hybrid and usage based billing – tied to actual product usage as opposed to static, seat-based pricing – is rising as AI companies and other consumption-led businesses monetize by tokens, calls, and compute.

With OpenPay, Airwallex will offer built-in usage based billing that works across borders and currencies.

With this acquisition, Airwallex isn’t just solving billing – it’s redefining it. By marrying global financial infrastructure with modern billing and subscription management, Airwallex is creating the first truly global billing platform: one that lowers costs, increases revenue, and lets businesses scale subscriptions without borders.

About Airwallex

Airwallex is a leading financial platform building the future of global banking for modern businesses. By combining proprietary infrastructure with software and AI, Airwallex is reimagining how businesses manage accounts, access capital, control spend, and embed financial services.

Designed to replace fragmented, legacy systems, Airwallex offers a unified platform for global financial operations – providing everything from multi-currency business accounts to payments to spend management and embedded financial products.

Founded in Melbourne and trusted by over 150,000 businesses worldwide – including TikTok, Rippling, Navan, Qantas, and SHEIN – Airwallex is powering a new era of global banking without borders.

Learn more at www.airwallex.com

About OpenPay

OpenPay is a comprehensive SaaS platform engineered to streamline subscription management and optimize payment workflows for businesses globally. Designed for scalability, OpenPay offers end-to-end solutions that include automated billing, failed payment recovery, and detailed analytics to reduce churn and maximize recurring revenue. With a focus on compliance, flexibility, and user-friendly interfaces, OpenPay empowers companies to efficiently manage their customer lifecycles, from onboarding to renewal.

(Adapted from press release)