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assemblypayments.com

Founded Year

2014

Stage

Merger | Merged

Total Raised

$12.25M

About Assembly Payments

Assembly Payments is a flexible payments platform. With a suite of APIs and an end-to-end service that removes the headaches of fraud, security, compliance and customer service, Assembly lets businesses accept, manage and disburse payments in any way they imagine.On April 7th, 2021, Assembly Payments merged with CurrencyFair to form Zai.

Assembly Payments Headquarters Location

48 Cambridge Street

Collingwood, Victoria, 3066,

Australia

1300-654-892

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Expert Collections containing Assembly Payments

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Assembly Payments is included in 4 Expert Collections, including Regtech.

R

Regtech

1,341 items

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

F

Fintech 250

248 items

P

Payments

2,441 items

Companies and startups in this collection enable consumers, businesses, and governments to pay each other - online and at the physical point-of-sale.

F

Fintech

3,446 items

Excludes US-based companies

Latest Assembly Payments News

Veteran fintech Assembly Payments rebrands as Zai following CurrencyFair merger

Nov 4, 2021

Veteran fintech Assembly Payments rebrands as Zai following CurrencyFair merger MENUMENU November 3, 2021 September 6, 2020 October 29, 2021 October 13, 2021 November 3, 2021 November 3, 2021 October 15, 2021 Simon Thomsen - November 4, 2021 2 MIN READ Zai CEO Paul Byrne Assembly Payments has completed its merger with Irish cross-border payments marketplace CurrencyFair and rebanded as Zai. The Melbourne fintech announced the merger in April this year, which went ahead following regulatory approval. It’s the second rebrand for Assembly Payments, which was founded in 2013 as PromisePay by Darren McMurtrie, Simon Lee and Simon Jones. The Westpac-backed payment platform opened offices in Melbourne and San Francisco the following year before expanding into Singapore and the Philippines. It rebranded as Assembly Payments in 2017. The rebrand to Zai heralds a shift beyond domestic and cross-border payments to provide a core suite of broader integrated financial services to businesses in Australia and beyond. Former CurrencyFair boss Paul Byrne is now the CEO of Zai. “Our vision with Zai is to boldly transform the future of financial services. The Australian market is very close to our hearts – both Assembly Payments and CurrencyFair were founded by Australian innovators,” he said. “We are ramping up our activity in Australia significantly –  Zai was first to market with NPP and we expect to remain at the forefront of innovation. Byrne said they plan to launch ‘PayTo’, the new digital way for merchants and businesses to initiate real-time payments from their customers’ bank accounts, in mid-2022. “We’re already seeing the benefits of expansion as we forecast a second successive year of 60% growth in processing volume to US$6.5 billion in 2021,” he said. Zai’s expansion plans are underpinned by backing from SC Ventures, the VC arm of Standard Chartered. The British banking multinational announced plans last year to launch a joint venture company with Assembly Payments to develop next generation payment solutions for the US$29 trillion e-commerce sector. Byrne said the business will focus on addressing businesses pain points. “Zai will continue our tradition of being customer-centric, solving problems and adding value around our five core capabilities – payments, global payment accounts, partner ecosystem, lending and settlement, and services – addressing the myriad growth opportunities in the US$2 trillion revenue market for payments,” he said. The company is focusing its mid-market and enterprise-level offering initially on the Australian market. It’s also looking to launch in the UK, USA and Asia in 2022 and with the number of employees expected to grow from 170 currently to 450 by 2025.

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  • When was Assembly Payments founded?

    Assembly Payments was founded in 2014.

  • Where is Assembly Payments's headquarters?

    Assembly Payments's headquarters is located at 48 Cambridge Street, Collingwood.

  • What is Assembly Payments's latest funding round?

    Assembly Payments's latest funding round is Merger.

  • How much did Assembly Payments raise?

    Assembly Payments raised a total of $12.25M.

  • Who are the investors of Assembly Payments?

    Investors of Assembly Payments include SC Ventures, Zai, Westpac Group, SWIFTgpi Industry Challenge, Mark Harbottle and 8 more.

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