Airwallex Acquires OpenPay to Add BNPL to Global Payments Platform

Australian-founded global payments company Airwallex has completed its acquisition of OpenPay, the Australian buy now, pay later provider. The deal strengthens Airwallex's position in the payments ecosystem and adds BNPL capabilities to its growing suite of financial services.

The acquisition is part of Airwallex's broader strategy to build a comprehensive global financial platform for businesses, combining cross-border payments, business accounts, and now consumer-facing BNPL services. The company has been on an aggressive acquisition spree as it seeks to consolidate its market position.

For OpenPay, the deal provides a path forward after the company faced challenges in an increasingly competitive BNPL market. Airwallex's global infrastructure and business customer base offer distribution opportunities that could revitalise the OpenPay product.