Airwallex acquires OpenPay to rival Stripe Billing

September 4, 2025 • FinTech News

Global fintech platform Airwallex has acquired San Francisco-based billing platform OpenPay. This strategic move positions the company to directly challenge Stripe Billing and other major players in the subscription management space. Although the financial terms remain undisclosed, this acquisition significantly expands Airwallex’s capabilities in the competitive billing and revenue management sector.

OpenPay’s Advanced Billing Capabilities

OpenPay provides advanced solutions for subscription management, payment orchestration, and revenue analytics. Its platform features sophisticated automated tools including smart payment routing, AI-driven customer retention, and real-time revenue insights. Furthermore, OpenPay supports diverse subscription models ranging from tiered and usage-based billing to simple flat fee structures.

Airwallex’s Global Expansion Strategy

Founded in Australia in 2015, Airwallex has grown into a major fintech player. The company achieved a $6.2 billion valuation earlier this year following a $300 million Series F funding round. By integrating OpenPay into its ecosystem, Airwallex aims to create a comprehensive global billing platform. This platform will specifically address multi-currency and cross-border requirements that traditional billing systems often struggle to support.

Creating a Truly Global Billing Solution

Jack Zhang, CEO of Airwallex, emphasized the global vision behind this acquisition. “Most billing systems are locked in the past,” Zhang stated. “They were never designed for a global, multi-currency world. That’s exactly the gap we’re closing.” He added, “By bringing OpenPay’s subscription management, orchestration, and analytics capabilities into Airwallex, we’re creating the first truly global billing platform.”

Competitive Positioning and Future Outlook

This acquisition places Airwallex in direct competition with Stripe Billing and Recurly. Consequently, it expands Airwallex’s offerings beyond basic payments infrastructure to comprehensive revenue management and analytics. This strategic move clearly signals Airwallex’s ambition to become a one-stop platform for businesses managing payments and subscriptions at scale.

As global demand for subscription services continues growing, Airwallex is making a strategic bet. The company believes that combining its cross-border payments expertise with OpenPay’s automation tools will provide a competitive edge. This combination positions Airwallex strongly for the next generation of billing technology solutions that can truly serve global businesses.