A Stripe competitor aims to challenge the incumbent fintech in yet another vertical. Airwallex, the $8 billion payments startup founded in Australia, announced on Wednesday that it was rolling out a billing product that helps businesses generate invoices, track customer usage of software products, and manage subscriptions.
The new product suite is at no added cost for current customers and included in the company’s existing pricing plans, Shannon Scott, chief product officer of Airwallex, told Fortune. “If you have customers all around the world, it’s very easy to get paid by those customers,” he added.
Airwallex’s billing features add to the fintech’s existing suite of products, which include checkout, payments, and corporate cards. The firm’s new offering also puts it even more squarely in competition with Stripe, which has had its own billing business for almost 10 years.
“As we expand as a business, we’re obviously going to start to come up against a number of different players internationally,” said Scott.
Fintechs converge
