[SINGAPORE] Fintech company Airwallex has acquired OpenPay, a San Francisco-based billing platform that provides subscription management, payment orchestration and revenue analytics services.
The Singapore-based company will bring OpenPay’s billing and analytics capabilities onboard its global platform and offer billing services to its customers by the fourth quarter of 2025.
The acquisition will strengthen Airwallex’s position against competitors such as Stripe Billing and Recurly, and enable its customers to unlock and automate revenue growth, the company said on Wednesday (Sep 3).
It did not disclose the financial terms of the deal.
With OpenPay’s capabilities, Airwallex will offer built-in usage-based billing that works across borders and currencies. It added that demand for such services is on the rise as artificial intelligence companies and other consumption-led businesses monetise tokens, calls and computing activity.
Jack Zhang, co-founder and chief executive officer of Airwallex, said that adding OpenPay’s capabilities to Airwallex’s product suite will contribute towards the creation of a “truly global billing platform”.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Such a platform would lower costs, raise revenue and let businesses scale subscriptions across borders, Airwallex said.
Lance Keh, chief executive officer of OpenPay, noted that Airwallex’s global reach will pave the way for OpenPay’s capabilities to be applied at scale.
OpenPay is a software-as-a-service platform that aims to streamline subscription management and optimise payment workflows for businesses across the world.
It offers features such as automated billing, failed-payment recovery and subscription management services for tiered, usage-based and flat-fee models.
Airwallex, founded in Melbourne, Australia, and headquartered in Singapore, is backed by Tencent.
It provides a platform for global financial operations and offers multi-currency business accounts, payments and spend-management services and embedded financial products.
