About mx51

About us

mx51 is a specialist white-label bank-focused payment technology provider, emerging out of leading payment technology provider Assembly Payments. As the first Australian fintech to develop a bank-grade, modern, Payment as a Service platform, mx51’s deep knowledge of merchant acquiring and scalable payments technology helps banks thrive globally in a disruptive world.

Why mx51?


mx is short for merchant experience, as we're obsessed with building products centred around merchants and their customers. The number 51 is synonymous with cutting edge innovation and technological breakthroughs. mx51 reflects our focus on technology, innovation and the merchant experience.

Company milestones

Project 51 established


Project 51 architecture design established


In-store payments prototype built


Patent application filed for in-store


Our team


Victor Zheng

Chief Executive Officer

Victor has over 20 years experience in financial services, technology and payments. Before mx51, Victor was the co-CEO of Assembly Payments. Previous to that, Victor was the Head of Payments and Head of Transaction Banking & Deposits at Westpac Group.


With a background in product, technology and project delivery, Victor has worked across various financial institutions across the Asia Pacific region. Victor has a Bachelor in Information Systems from the University of New South Wales, a MBA from Macquarie Graduate School of Management and is married with two young daughters.

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Magnus Hsu

Chief Operating Officer

Magnus leads the strategy, corporate development, finance, commercial, legal, risk & compliance and international partnerships function of mx51. Before mx51, Magnus was the General Manager of Strategy & Commercial of Assembly Payments. Prior to that, Magnus was a Director in Group Strategy at Westpac Group where he worked on group and business unit strategies across retail, business, wealth and institutional banking.


Magnus was a Postdoctoral Fellow in physics at Stanford University and completed his PhD in physics at the Australian National University. He resides in Melbourne with his wife and their young daughter.


May Lam

Chief Customer Officer

May leads growth, sales & marketing, POS partnership, people and culture and corporate IT at mx51. May has 20+ years of combined experience in banking and financial services, public sectors, management consulting and technology services industries in Australia, Greater China and Asia Pacific regions. She was accountable for a spectrum of multi-disciplinary functions in technology, managed services, finance, risk and sales for organisations including Westpac, AMP Bank, Commonwealth Bank, Citigroup, HSBC, Bank of China, Unisys, Fuji Xerox, Fujitsu and Transport for NSW.

May holds a Bachelor of Science (Information Systems) and Master of Commerce degrees from University of New South Wales. Married with two children, May's personal mantra is "Have a grateful heart; dare to compete and pay it forward - there's more to life than just your own personal success - Be a service to others!”


Steven Hadley

Chief Product Officer

Steven leads product, engineering, architecture, data, security and cloud infrastructure at mx51. Steven comes from a background of product research and development having first joined British Telecoms Research Labs in the 90's. This includes working on global fleet tracking and messaging systems, video conferencing, yacht races, SMS messaging, broadband and VOIP systems.

He then moved onto gaining 20+ years experience across a number of industries. This includes media, retail, law, banking and gambling & gaming working for companies and clients such as Macquarie Bank, Foxtel, Fox Sports, Sky, Commonwealth Bank, Ericsson, 3G, Sony and Westpac. Steven guides a team of curious product experts to challenge the status quo and create innovative solutions that solve real problems for our customers.


Catherine Ward

Head of Delivery & Implementations

Catherine is responsible for all program management, strategic partnership delivery and banking implementations at mx51. Catherine has 10+ years experience in IT program & project management in both the private and public sector within the areas of healthcare, immigration, marketing and finance.

Catherine holds an International Bachelor of Arts (Psychology) from University College Dublin and Master of Science (Forensic Psychology) from the University of Kent.

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© 2020 mx51 Pty Ltd

Level 12, 201 Kent St Sydney NSW 2000   |   hello@mx51.io

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