Fintech company Airwallex expands its horizons, acquiring OpenPay from San Francisco, making its entrance into the billing market.
Financial platform Airwallex has made a strategic move into the billing space with the acquisition of OpenPay. The deal, which terms were not disclosed, is expected to result in a paradigm shift in global payments.
Both Airwallex and OpenPay share a common vision of empowering subscription businesses to scale without barriers. Jack Zhang, Co-founder and CEO of Airwallex, stated that the acquisition of OpenPay is aimed at creating the first truly global billing platform.
Lance Co Ting Keh, CEO of OpenPay, expressed that they started the company to solve the complexity of recurring revenue management and envisioned a smarter, more intuitive platform. Co Ting Keh is excited for the next chapter of OpenPay as they partner with Airwallex to set a new standard in global payments.
OpenPay's platform was designed to address the gap in billing systems that were not designed for a global, multi-currency world. Its technology includes smart payment routing, AI-driven retention tools, real-time insights, and subscription management for tiered, usage-based, and flat fee models.
The acquisition brings OpenPay's billing and analytics tools into Airwallex's global platform. Airwallex's billing services will be available for both new and existing customers in Q4 2025. The company believes that the OpenPay team brings deep technical strength to the company, strengthening its position against competitors such as Stripe Billing and Recurly.
The global subscription economy is projected to surpass US$1 trillion by 2030, making the need for a comprehensive, global billing solution more pressing. The combined capabilities of Airwallex and OpenPay will create a platform that can manage subscription, orchestrate, and analyze revenue on a global scale.
Airwallex entered the accounting sector in Q4 2025 by acquiring OpenPay and integrating subscription management and revenue analytics into its global platform. Lance Co Ting Keh stated that they envisioned a smarter, more intuitive platform, and with Airwallex, they are one step closer to making that vision a reality.
As the demand for hybrid and usage-based billing rises among AI and other consumption-led businesses, the partnership between Airwallex and OpenPay is poised to redefine the future of global payments. The new features will support multicurrency billing at a time when demand is expected to increase.
Lance Co Ting Keh is looking forward to the next chapter of OpenPay as they partner with Airwallex to set a new standard in global payments. The acquisition is a significant step towards creating a truly global billing platform, empowering subscription businesses to scale without barriers.
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