top of page

About mx51

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

34816007-3ADA-4E64-85BC-F441D9A0689C Marcus_edited.jpg
Path 345@2x.jpg

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.

Our team


Victor Zheng

Chief Executive Officer and Co-Founder

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.

Magnus profile pic (cropped).jpg

Magnus Hsu

Chief Operating Officer and Co-Founder

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.


Steven Hadley

Chief Technology Officer and Co-Founder

Steven leads 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.


Varghese Mathew

Chief Customer Officer

Varghese Mathew leads growth, partnerships and marketing teams for mx51. He has over 15 years experience spread across financial services, management consulting and technology industries.


Before mx51, he spent close to 6 years at Mastercard where he was Vice President, Business Development at Mastercard and led the payments acceptance vertical growth for Mastercard’s professional services business - Mastercard Data & Services across Australasia. Before joining Mastercard, Varghese was a Consultant with the Boston Consulting Group in Perth, Australia. He has also held positions at Altron and Cisco across Africa and Europe.


Varghese holds a Masters degree in Business Administration from Columbia University in New York, a Bachelor’s degree (Honours) in Electronic Engineering and a Bachelor’s degree in Electronic Engineering from the University of Pretoria, South Africa.

my pic.png

Jo Newton

Head of People

Jo leads the mx51 People function including Talent Acquisition, Business Partnering and HR Operations. With over 20 years in the People and Talent space, she has worked in organisations of at varying stages of growth.


Her experience spans organisations across Financial Services, Insurance, Workforce Intelligence and Consumer products in varying stages of growth - from start-up through to large multinationals. She is passionate about the employee experience and the impact a positive (and unique) employee experience has on culture, engagement and company growth. With 2 children, life is busy and most weekends, you can find Jo cheering the kids on from the sidelines.

bottom of page