What Assembly Payments does

Zai (legal entity Zai Australia Pty. Ltd., formerly Assembly Payments) is an Australian-headquartered payment platform company founded in 2013 and operating from Collingwood/Melbourne with a North American presence. The company sells an API-first payment platform that enables businesses to collect payments via PayTo, BPAY, Cards, and Direct Debit; automate outbound payouts; and orchestrate end-to-end payment workflows, with built-in fraud checks, virtual-account-based reconciliation, and full PCI DSS compliance. The platform is delivered via hosted pages or direct API integration, accompanied by comprehensive developer documentation and a WooCommerce plugin for SMB merchants.

Zai serves a verticalized customer base across proptech, platforms and marketplaces, fintech, earned wage access, remittance, and edtech, with named customers including Managed App, Change 4 Change, Beforepay, LIZ, RemitAssure, Kolmeo, hipages, and Ordermentum — a mix of startups, mid-market, and enterprise accounts. The company monetizes through transaction-based fees on processed payments and recurring platform/subscription fees, with quote-based pricing rather than publicly disclosed tiers. The go-to-market combines a developer-led API motion with an enterprise consultative sales overlay, supported by content marketing (guides, case studies, blog) targeting each prioritized vertical.

The business has raised approximately $32.25 million across six disclosed funding rounds between 2013 and 2017, with the largest a $20 million round led by Westpac in April 2017; no funding rounds are disclosed thereafter. There is no disclosed revenue, AI capability, or post-2017 strategic transaction in the source material, and the most recent publicly identifiable corporate event is the rebrand from Assembly Payments to Zai.

Name

Assembly Payments

Legal name

Zai Australia Pty. Ltd.

Website

https://assemblypayments.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

101–250 employees

Short description

Zai (formerly Assembly Payments) is an Australian fintech that provides an API-first payment platform for collecting, paying out, and orchestrating payments across PayTo, BPAY, Cards, and Direct Debit, serving proptech, marketplace, fintech, and remittance customers.

Ownership category

akta.pro rank

Product category

Payment Processing Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Integrated Payment Processors (PSP/Acquirer) (FSAMABAA)

akta.pro secondary industries

Payment Processing & Acquiring Infrastructure (FSAGABAC), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB), A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)

Keywords

• Payment processing platform
• API payment infrastructure
• Payment workflow orchestration
• Online payment fraud prevention
• Virtual accounts reconciliation

Headquarters

HQ city

Collingwood

HQ country

Australia

HQ region

Oceania

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Payment Processing: Transaction-based fees for processing payments across multiple payment methods including cards, direct debit, BPAY, and PayTo
2. Platform Services: API access and platform usage fees for payment orchestration and workflow management

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Assembly Payments (Zai) provides an API-powered payment platform that enables businesses to collect payments via PayTo, BPAY, Cards, and Direct Debit; automate payouts; orchestrate custom payment workflows; and manage fraud, risk, and reporting through a unified API. The platform supports virtual accounts for automatic reconciliation and is fully PCI DSS compliant.

Product overview

Zai (formerly Assembly Payments) offers a unified payment platform with modular capabilities. The core platform provides three primary functions: Collect Payments (enabling customers to pay via PayTo, BPAY, Cards, and Direct Debit), Make Payments (automated payouts and disbursements), and Payment Workflows (orchestration and customization of payment flows). Additional modules include Online Payment Fraud Prevention for risk management, Data Reporting for analytics, and API Integrations for developer embedding. Payment methods are offered as integrated options within the platform rather than separate products. The platform also supports a WooCommerce plugin for e-commerce merchants.

Differentiator

Problem solved

Functional benefit

Products and services

• Collect Payments Payment collection solution enabling customers to quickly pay online via all popular payment methods including PayTo, BPAY, Cards, and Direct Debit. Built for businesses that need multi-method online payment acceptance.
• Make Payments Automated payout solution enabling businesses to disburse funds to people on time with customizable payment workflows. Used by businesses that need to pay vendors, contractors, or recipients reliably.
• Payment Workflows Payment orchestration platform allowing businesses to create and customize any payment flow to solve specific business challenges.
• Online Payment Fraud Prevention Fraud and risk management solution to protect businesses with built-in fraud checks and security measures.
• Data Reporting Reporting and data analytics solution providing access to payment data and insights for business intelligence.
• API Integrations Developer integration options allowing businesses to embed payments via hosted solutions and API connectivity.
• PayTo Real-time payment method allowing instant bank-to-bank transactions through the New Payments Platform.
• BPAY Australian bill payment method enabling customers to pay bills through their bank using BPAY functionality.
• Cards Credit and debit card payment processing accepting all major card networks.
• Direct Debit Direct debit payment capability enabling automated recurring payments and batch payout processing.
• WooCommerce Payment Plugin Official WordPress/WooCommerce plugin enabling merchants to accept Zai payments on their online stores.

Quantifiable outcome

• Reduced payment turnaround times from 20 days to 60 seconds for Managed App
• +1 more outcomes

Named customers8 records

Segments6 records

Ideal customer profiles6 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Stripe: Global integrated payment processor offering a developer-first API platform spanning cards, ACH, and wallet payments. Comparable to Zai as a direct API-first PSP competitor, though Stripe operates at vastly greater scale across all geographies and has begun supporting PayTo-style A2A rails.
• Adyen: Global unified payments platform serving enterprise merchants with card, local, and A2A payment methods through a single API. Comparable to Zai in offering orchestration and multi-method acceptance, though at enterprise-tier scale across 30+ countries including Australia.
• Checkout.com: Global payment processor serving enterprise and platform merchants with card acquiring, local payment methods, and orchestration through a unified API. Comparable to Zai in target segment (platforms and marketplaces) and API-first architecture, though at significantly larger scale.
• PayPal Braintree: Global payment platform serving merchants and platforms with card processing, vault, and marketplace payout features. Comparable to Zai in targeting platform and marketplace customers with orchestration capabilities, though backed by PayPal's global scale.

Direct peers

• Airwallex: Australian-founded cross-border payments platform offering multi-currency accounts, card issuing, and global payment acceptance. Comparable to Zai in Australian fintech origins and API-first payments infrastructure, though Airwallex focuses on FX and cross-border rather than domestic orchestration.
• Pin Payments: Australia-headquartered payment processor targeting SMBs and platforms with card and direct debit processing via API. Closest direct peer to Zai given shared Australian domicile, API-first model, and platform/marketplace customer focus.
• Windcave (formerly Payment Express): New Zealand-headquartered payment processor with strong Australia presence, offering card, EFTPOS, and online payment processing to merchants. Comparable to Zai as an APAC PSP with API integration, multi-rail support, and enterprise merchant focus.
• eWAY: Australia-based online payment gateway processing card transactions for SMB and mid-market merchants. Comparable to Zai as a domestic Australian PSP with API/hosted integration options, though focused more heavily on card acquiring than orchestration.
• Fat Zebra: Australian payment gateway providing card processing and recurring billing via API to merchants and platforms. Comparable to Zai as a domestic Australian API-first PSP targeting similar SMB-to-mid-market segments.

Others

• Stripe Connect: Marketplace and platform payment orchestration product within Stripe's suite, supporting multi-party payments, split payments, and payouts. Comparable to Zai's marketplace and platform payment workflows, representing the dominant competitive alternative for Zai's core use case.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AssemblyPayment
• Facebookfacebook.com/AssemblyPayments

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds5 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Assembly Payments