Zai originally started as PromisePay, which was founded in 2013. It later rebranded to Assembly Payments. The company was launched by three entrepreneurs from diverse industries who shared a common frustration with traditional payment systems. United by this challenge, they aimed to transform the financial landscape. Their mission was to ensure individuals and businesses could get paid quickly, easily, and in their preferred manner.
By offering versatile payment acceptance and disbursement options through a single platform, Assembly Payments empowered businesses to compete, scale, and thrive in an increasingly complex digital world.
Assembly Payments made history as the first non-bank financial institution in Australia to introduce real-time payments through the national New Payments Platform (NPP), processing over US$2 billion in transactions within a year. The organisation's exceptional workplace culture also has earned recognition as a Top 10 Startup for Best Employer by LinkedIn, an accolade received twice.
In a strategic move to shape the future of Australian payments, Assembly Payments has received support from Standard Chartered Ventures, the fintech innovation arm of Standard Chartered Bank. This support culminated in the rebranding to Zai in April 2021, with the aim of providing a wide array of financial services to mid-market and enterprise-level customers.
With a strong foundation in Australia, Zai is quickly becoming a leading fintech platform, catering to the evolving needs of businesses and individuals in the digital age.
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