Airwallex Targets Stripe with New Modular Revenue Management System

Airwallex, a leading cross-border payments fintech valued at $8 billion, has unveiled its new global billing suite—Airwallex Billing. This comprehensive platform integrates invoicing, subscription management, and usage-based billing into a single system, directly challenging Stripe’s position in the software market.

The launch addresses a common pain point for scaling technology companies that outgrow fragmented legacy systems. By offering an all-in-one solution, Airwallex aims to eliminate vendor sprawl and provide finance teams with real-time visibility across global operations through a unified interface.

Key Features of Airwallex Billing:

  • Modular Design: Allows businesses to select only the features they need
  • Multi-Currency Support: Handles transactions in over 20 currencies with optimized FX rates
  • Usage-Based Metering: Tracks consumption for API calls, tokens used, or other variable metrics—ideal for AI and SaaS models
  • Built-in Compliance: Supports regulatory requirements across 40+ markets with 85+ licenses
  • Account-to-Account Infrastructure: Preserves up to 3% in margins compared to traditional card transactions

Addressing the Evolving Needs of Modern Businesses

The timing aligns with the shift towards AI-powered and usage-based business models. As Jack Zhang, Airwallex co-founder and CEO noted, ‘The companies that will win the next decade are operating globally from day one.’ This resonates particularly with SaaS, cloud infrastructure, and AI firms seeking flexible pricing options beyond traditional subscription tiers.

The new billing system enables these businesses to:

  • Offer dynamic pricing based on actual usage
  • Support consumption-based models for API access or feature utilization
  • Experiment with different pricing strategies without complex integrations

Strategic Implications

This launch marks a significant expansion beyond Airwallex’s core payments business. Transaction processing now represents only 30% of revenue, as the company increasingly focuses on high-margin software services.

With $1.3 billion in Annual Recurring Revenue (ARR) and 70% year-over-year growth, Airwallex is well-positioned to compete aggressively in both North America and Europe. The platform currently serves over 250,000 businesses globally—including 46,000 in the United States—indicating strong market demand for integrated financial solutions.