Airwallex Challenges Legacy Software With New Billing Solution

Airwallex has added a billing solution to its global payments and financial offerings.

The new Airwallex Billing includes tools for invoicing, subscription management and usage-based billing, allowing users to adopt the ones that are relevant to them today and add other billing models as needed, the company said in a Wednesday (May 27) blog post.

Airwallex Billing is designed to meet the needs of clients such as artificial intelligence (AI) companies that meter by the token, software-as-a-service (SaaS) businesses that deploy both usage-based pricing and subscriptions, and professional services firms that invoice across several currencies globally, according to the post.

The solution helps users send digital invoices that support more than 160 payment methods with like-for-like settlement in more than 20 currencies and automated reconciliation; launch and manage recurring billing with flexible pricing, automated renewals and no code required; and scale their billing with real-time usage and metering.

“Growing your business shouldn’t mean wrestling with multiple billing systems, manual spreadsheets and mismatched payment tools just to keep pace,” Airwallex said in the post. “These gaps slow teams down, cost real revenue and make scaling feel harder than it needs to be. Airwallex Billing changes that.”

Early-stage founders often overlook revenue operations, the mechanics of how their revenue flows, and learn hard lessons about factors such as local payment methods, tax regimes and settlement times, Airwallex Co-Founder and CEO Jack Zhang said in a Wednesday blog post.

“If you’re a founder, take a beat and consider the multitude of directions your revenue models could take you, and plan accordingly,” Zhang said. “The advantages of an adaptable, global billing stack will compound as commerce accelerates. Airwallex Billing will help you keep pace and break through.”

Airwallex said in September that it planned to bring billing and analytics capabilities to its financial platform through its acquisition of OpenPay. The company said the deal was designed to bolster the platform, strengthen Airwallex’s position against other players such as Stripe Billing and Recurly, and help Airwallex customers unlock and automate revenue growth.

The PYMNTS Intelligence report “Fitting the Bill: How Automated Bill Presentment and Payment Are Transforming Business” found that customers express less tolerance for slow processing of their bill payments, with 70% saying they expect those payments to be processed the same day or instantly.

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