Airwallex, a global financial platform for modern businesses, announced Wednesday the acquisition of OpenPay, a San Francisco-based billing platform that offers subscription management, payment orchestration, and revenue analytics.

The acquisition will bring OpenPay’s billing and analytics capabilities into Airwallex's global platform, strengthening Airwallex’s position against other players like Stripe Billing and Recurly, and empowering Airwallex customers to unlock and automate revenue growth, Airwallex said in a statement.

“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,

“By bringing OpenPay’s subscription management, orchestration, and analytics capabilities into Airwallex, we’re creating the first truly global billing platform,” said Jack Zhang, Co-founder and Chief Executive Officer of Airwallex.

According to him, the OpenPay team brings deep technical strength and a shared conviction in our vision, and they are thrilled to have them on board as they help businesses scale seamlessly across borders.

Meanwhile, Lance Co Ting Keh, Chief Executive Officer of OpenPay, said the started OpenPay to solve the complexity of recurring revenue management.

He said they envisioned a smarter, more intuitive platform that empowers subscription businesses to scale without
barriers.

“In Airwallex, we found a partner who shares our vision, our DNA, and has the global reach to apply our work at scale,

“We are very proud of what we’ve built and excited for our next chapter as we partner with Airwallex to set a new standard, creating a paradigm shift in global payments,” he added.

It is noted that OpenPay has distinguished itself through its development of automated features like smart payment routing, artificial intelligence (AI)-driven retention tools, real-time insights, and subscription management for tiered, usage based, and flat fee models.

Demand for hybrid and usage based billing – tied to actual product usage as opposed to static, seat-based pricing – is rising as AI companies and other consumption-led businesses monetize by tokens, calls, and compute.

With OpenPay, Airwallex will offer built-in usage based billing that works across borders and currencies.

With this acquisition, Airwallex is creating the first global billing platform that lowers costs, increases revenue, and lets businesses scale subscriptions without borders, said the statement.

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