Airwallex has announced the acquisition of San Francisco-based billing platform OpenPay, a move aimed at strengthening its position in the global financial technology market. The deal will integrate OpenPay’s billing, subscription management, payment orchestration, and revenue analytics into Airwallex’s platform, creating a comprehensive solution that rivals providers such as Stripe Billing and Recurly.
The new capabilities are set to launch for both new and existing customers in the fourth quarter of 2025. They are designed to help businesses automate and scale revenue operations while managing subscriptions across multiple currencies. With the global subscription economy expected to exceed US$1 trillion by 2030, demand for such tools is forecast to rise sharply.
Building the first global billing platform
Jack Zhang, Co-founder and Chief Executive Officer of Airwallex, said many existing billing systems are outdated and unsuitable for modern, cross-border businesses. “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,” he said. “By bringing OpenPay’s subscription management, orchestration, and analytics capabilities into Airwallex, we’re creating the first truly global billing platform.”
Zhang added that OpenPay’s technical expertise and alignment with Airwallex’s vision would enable businesses to scale more efficiently across borders.
Lance Co Ting Keh, Chief Executive Officer of OpenPay, described the acquisition as a natural step in the company’s growth. “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,” he said. “In Airwallex, we found a partner who shares our vision, our DNA, and has the global reach to apply our work at scale.”
Meeting demand for new billing models
OpenPay has developed features such as smart payment routing, AI-powered customer retention tools, and real-time analytics. It also supports multiple subscription models, including tiered, usage-based, and flat fee structures. These capabilities are particularly relevant to businesses in the artificial intelligence and consumption-led sectors, which often bill customers based on usage such as tokens, calls, or compute power.
By combining these tools with Airwallex’s financial infrastructure, the company aims to offer built-in, usage-based billing that functions seamlessly across currencies and borders. Airwallex said this would not only reduce costs but also increase revenue opportunities for businesses seeking to expand internationally.
Expanding global reach
Founded in Melbourne, Airwallex has grown into a leading financial platform, serving over 150,000 businesses worldwide including TikTok, Qantas, SHEIN, and Navan. Its platform combines multi-currency business accounts, payments, spend management, and embedded financial services.
OpenPay, meanwhile, has built its reputation as a SaaS provider focused on reducing churn and optimising payment workflows. Its platform offers automated billing, failed payment recovery, and compliance-focused analytics designed to maximise recurring revenue.
