Z

Zai

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Company Research Report: Zai



Company Overview



Name, Mission of the Company


  • Name: Zai

  • Mission: Zai aims to make financial services accessible to all, transforming the future of financial services by providing innovative, API-powered payment solutions for mid-market and enterprise-level businesses.


Founding Information


  • Founded: No information is available on the exact founding date of Zai. However, Zai was formed from the merger of CurrencyFair and Assembly Payments in April 2021.


Key People


  • Shamus Hodgson – Group CEO of Zai and CurrencyFair

  • Dean Mao – Co-Founder and Chief Technology Officer of Beforepay

  • Nick Bouris – Co-Founder & Director of Managed App

  • Obi Orji-Ukabiala – Chief Operating Officer of RemitAssure

  • Tim Millbank – Founder of Change 4 Change

  • Baxter Knight – Founder of LIZ


Headquarters


  • Headquartered: No information is available.


Number of Employees


  • Number of Employees: No information is available.


Revenue of the Company


  • Revenue: No information is available.


What the Company is Known For


  • Zai is renowned for its API-powered platform which simplifies creating and managing end-to-end payment flows. The company specializes in secure, scalable, compliant, efficient, automated, and flexible payment solutions.


Products



Products Offered by Zai


1. Collect Payments
  • Description: A payment solution that allows customers to pay online via all popular payment methods.

  • Key Features:

  • Fast and easy online payment processing.

  • Supports various payment methods.


2. Automate Payouts
  • Description: Enables automated payouts ensuring timely payments.

  • Key Features:

  • Automation of payments.

  • Ensures accuracy and timeliness.


3. Orchestrate Payment Flows
  • Description: Customizable payment flow creation to solve business challenges.

  • Key Features:

  • End-to-end customization.

  • Adaptable to specific business needs.


4. Fraud and Risk Management
  • Description: Bank-grade security and built-in fraud checks.

  • Key Features:

  • Protects businesses with advanced security measures.

  • Integral fraud detection.


5. Payment Simplification
  • Description: Streamlines processes to free up valuable time.

  • Key Features:

  • Full PCI-DSS compliance.

  • Optimization of business workflows.


6. Virtual Accounts
  • Description: Automatically matches, tracks, and reconciles payments.

  • Key Features:

  • Automated reconciliation.

  • Efficient tracking of payments.


Recent Developments



Organizational Developments


  • April 2021: CurrencyFair and Assembly Payments merged to form Zai.

  • April 2023: Shamus Hodgson appointed as Group CEO of Zai and CurrencyFair.


Partnerships


  • September 2022: Zai partnered with TerraPay to accelerate cross-border payments globally.

  • August 2022: Zai joined Blockchain Australia, supporting the digital economy.

  • August 2022: Zai partnered with the Australia-Latin America Business Council.

  • July 2022: Zai partnered with Worldpay from FIS for global cards acceptance.


Certifications and Compliance


  • July 2022: Zai secured IEC/ISO 27001:2013 certification.

  • June 2022: Zai waived PayTo fees for new and existing customers.


Product Enhancements


  • June 2022: Zai announced waived PayTo fees.

  • Real-time Payments: Assembly Payments became the first non-bank to launch real-time payments in Australia in 2018.


Awards


  • 2022: Zai won the “Deal of the Year” Award at Fintech Australia’s Finnies Awards.


Success Stories



1. Managed App
  • Achievement: Reduced payment turnaround times from 20 days to 60 seconds.

  • Testimonial:

  • "Zai's predisposition to evolve and their speed and agility is invaluable to Managed App. It means we can continue to deliver the value of technological advancements to our customers." - Nick Bouris, Co-Founder & Director


2. Change 4 Change
  • Achievement: Simplified donation processing, supporting software development.

  • Testimonial:

  • "Working with Zai has been a joy – they treat us as a partner rather than a client, backing us to succeed." - Tim Millbank, Founder


3. Beforepay
  • Achievement: Moved away from repetitive work such as manual reconciliation.

  • Testimonial:

  • "The team from Zai took the time to understand our core value proposition, and they were able to create an implementation plan that enabled us to go to market rapidly while also delivering specific value for our customer." - Dean Mao, Co-Founder and Chief Technology Officer


4. LIZ
  • Achievement: Revolutionized the way renters manage their finances.

  • Testimonial:

  • "The speed, agility and ability to add value that Zai brings to the table is invaluable to us and our mission to make renting easier for everyone." - Baxter Knight, Founder


5. RemitAssure
  • Achievement: Offers disruptive digital P2P remittance services globally.

  • Testimonial:

  • "Our collaboration with ZAI has been fantastic. Their solution is seamless and adaptable to different business models and requirements." - Obi Orji-Ukabiala, Chief Operating Officer