CurrencyFair Merges with Assembly Payments to Create Zai

Enterprise Ireland client and global cross-border payment provider CurrencyFair has this month merged with Assembly Payments, an automated complex payment workflows platform, to create Zai offering a core suite of integrated financial services to businesses in Australia and across the world.

Paul Byrne, CEO of Zai said: “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.

“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. In mid-2022, we are launching ‘PayTo’, the new digital way for merchants and businesses to initiate real-time payments from their customers’ bank accounts. 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.”

“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 continued.

The company is focusing its mid-market and enterprise-level offering initially on the Australian market, where its Assembly Payments customer base gives it a strong foothold, while in parallel ramping up its capability 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.

For more information, please visit www.hellozai.com.

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