Zai (Assembly Payments)

Zai operates as a global provider of embedded finance orchestration, stemming from the 2021 merger of two Australian-founded fintech companies: Assembly Payments and CurrencyFair. This strategic consolidation, backed by Standard Chartered's SC Ventures, was aimed at moving beyond simple domestic and cross-border payments to offer a comprehensive suite of integrated financial services. The company's origins trace back to PromisePay, founded in 2013 by Darren McMurtrie, Simon Lee, and Simon Jones, who were motivated by a shared frustration with traditional payment systems. The entity rebranded to Assembly Payments in 2017 before merging with CurrencyFair, which was founded in 2009.

The company's core business revolves around providing an API-powered platform that enables businesses to manage complex payment workflows. Zai serves mid-market and enterprise-level clients across various sectors, including fintech, proptech, and online marketplaces, by simplifying and automating payment processes. Its business model focuses on creating customized payment flows for collecting, managing, and disbursing funds. Revenue is generated through this suite of financial services which addresses a market for payments estimated to be worth US$2 trillion.

Zai's platform offers a range of services designed to handle the entire payment lifecycle. Key features include multi-currency support for over 200 currencies, cross-border payment capabilities, and real-time payment processing through Australia's New Payments Platform (NPP), where it was the first non-bank to launch such services. The platform provides businesses with tools for automated reconciliation, reporting, and in-depth analytics to track customer behavior. Security is a significant aspect, with features like tokenization, PCI-DSS compliance, and advanced fraud monitoring. For clients like online marketplaces and investment platforms, Zai's technology facilitates seamless top-ups, fund storage, fee collection, and payouts. By embedding these financial tools into a client's own platform, Zai helps to automate and gain visibility over the entire transaction process.

Keywords: payment orchestration, embedded finance, fintech, cross-border payments, API payments, payment workflow automation, digital wallets, real-time payments, NPP, payment gateway, multi-currency payments, online marketplaces, B2B payments, transaction management, fraud protection, payment reconciliation, global payment accounts, financial services API, subscription billing, digital payments