The deal adds subscription management, orchestration, and analytics to Airwallex’s suite as it targets Stripe Billing.
Airwallex has acquired San Francisco-based billing platform OpenPay to expand its financial infrastructure with subscription management, payment orchestration, and revenue analytics. The acquisition positions Airwallex to compete more directly with Stripe Billing and Recurly as demand for global, multicurrency billing grows.
Airwallex said the new billing capabilities will roll out to customers in Q4 2025. The move comes as the global subscription economy is forecast to surpass $1 trillion by 2030, creating rising demand for usage-based and hybrid billing tools.
“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.”
OpenPay CEO Lance Co Ting Keh said the acquisition reflects a shared vision. “We started OpenPay to solve the complexity of recurring revenue management. In Airwallex, we found a partner who shares our vision, our DNA, and has the global reach to apply our work at scale” he said.
OpenPay developed features such as smart payment routing, AI-driven retention, real-time analytics, and flexible subscription models including usage-based billing. The acquisition allows Airwallex to integrate these tools with its global payments infrastructure, giving companies an end-to-end platform for scaling subscription businesses across borders.
Financial terms of the deal were not disclosed.