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Zennopay operates in USD only. We never hold THB or VND. Local-currency conversion happens inside our licensed payout partner network for the destination corridor.

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Custody posture

  • Partner funds are held in a For-Benefit-Of (FBO) account at Zennopay’s US banking partner. The funds remain attributable to the partner — and beneficially to the partner’s end users — at all times.
  • Zennopay is a US-registered Money Services Business (MSB), operating as a payment facilitator (agent of payee).
  • Zennopay is not an e-money institution. Partner FBO funds are never co-mingled with Zennopay operating funds.
  • We are USD-only. All FX happens inside the payout partner network for the destination corridor.

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The shape of the flow

Money moves in two independent rhythms: the partner pre-funds its FBO balance occasionally (a wire), and each payment draws down that balance — there is no per-transaction money movement between the partner and Zennopay.
  • The pre-fund wire lands in the partner’s FBO balance; deposits and the running balance are visible in the Zennopay Console.
  • Each captured payment draws down the pre-funded balance by the USD amount (plus margin); the local-currency payout to the merchant’s bank rides the corridor’s local rails through Zennopay’s licensed payout partners.
  • The partner debits its end user on its own ledger, in parallel. Zennopay never touches the partner’s user balances.
  • Zennopay automatically enforces the corridor’s per-user regulatory limits at confirm time (Vietnam: ₫5,000,000 per transaction, ₫10,000,000 per day, ₫25,000,000 per month). Partners build nothing for this — the PaymentSheet renders the limit copy when a payment is blocked.

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How a payment moves

For a payment in the Thailand corridor (th_promptpay):
  1. The end user authorizes a USD amount in the partner app; their partner-app wallet balance decreases by that amount.
  2. Zennopay debits the partner’s pre-funded USD float for the authorized amount plus Zennopay’s transparent processing margin.
  3. Zennopay routes the USD downstream to its licensed payout partner for the corridor, which performs the USD → local-currency FX.
  4. The merchant receives the local-currency equivalent (THB for TH, VND for VN) in their QR-registered account.
The same shape applies to Vietnam (vn_vietqr), settling in VND.
Zennopay’s processing margin is disclosed to each partner in their commercial agreement and itemized on monthly statements. It is not exposed in the API.

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When things fail

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Pre-funding

Partners maintain a pre-funded USD float with Zennopay. Zennopay monitors float levels and notifies the partner before a top-up is required, so a partner in good standing does not run out of float mid-day.

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What you receive as a partner

  • A monthly statement showing transaction count, gross TPV, processing margin, and any commitment-fee passthroughs.
  • A reconciliation report per corridor, comparing Zennopay’s records against the downstream settlement record.
  • A monthly invoice for any commitment fees due.
See Settlement & reconciliation for cadence and reporting.