Airwallex Building Comprehensive Finance OS

The real opportunity is to turn Airwallex from a cheaper way to move money into the system a finance team lives in every day. That matters because the more workflows Airwallex owns after the payment, like issuing cards, collecting receipts, approving spend, managing vendors, and running subscriptions, the harder it is for a business to switch back to a bank, card tool, or billing point solution.

• Airwallex already has the base layer for this. Cards and payments now generate over 50% of gross profit, and its expense tools tie directly into those cards so finance teams can issue employee cards, set limits, collect receipts, and sync transactions into NetSuite, Xero, or QuickBooks from the same system.
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• Subscription management is no longer hypothetical. After acquiring OpenPay in September 2025, Airwallex added billing, payment orchestration, revenue analytics, subscription management, failed payment recovery, and usage based pricing support, moving it closer to Stripe Billing and Zuora rather than just cross border payments.
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• Tax is the logical next layer, but also the hardest one to own fully. Research on the broader payments stack shows larger businesses often unbundle tax into specialists like Taxwire, Anrok, and Avalara once they sell across countries, use multiple processors, and need filing and remittance across many jurisdictions.
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From here, the path is clear. Airwallex is likely to keep moving up the finance stack by bundling billing, spend, vendor controls, and eventually more compliance workflows around its global money movement core. If it executes, Airwallex starts to look less like Wise or a PSP, and more like a global version of the modern finance suite built by Stripe, Brex, and Ramp together.