Zone introduces new PoS gateway featuring instantaneous settlements

Zone, the pioneer of Africa’s initial regulated blockchain network for payments, unveiled its innovative “ZonePOS” point-of-sale payment gateway solution on June 5th.
This new offering is a groundbreaking development for the region, as stated in a press release by Zone. The company’s blockchain-fueled payment infrastructure enables direct transaction routing to issuers while adhering to regulatory standards on interbank payments. This establishes it as one of the only decentralized gateways for currency-agnostic payments in the African market.
Zone’s CEO, Obi Emetarom, expressed in a press release:
“Our PoS Payment Gateway Product reflects our dedication to financial inclusion and the digital evolution of payments in Africa. Through this latest release, we are thrilled to have taken a significant stride towards our vision of a world where individuals and businesses can conduct instantaneous payments with anyone worldwide, using any payment method and currency.”
Key features of the product include enhanced transaction speeds, with Zone guaranteeing same-day settlements through ZonePOS. Additionally, the service provides blockchain-based protection against charge-backs.
As per the press release, Zone’s PoS payment gateway “prevents chargebacks and chargeback fraud on PoS terminals by automatically refunding customers for failed transactions and swiftly declining fraudulent chargebacks in real-time.”
The introduction of this new product coincides with shifting regulatory dynamics in Nigeria, one of the regions where ZonePOS will be introduced.
In recent reports by Cointelegraph, younger Nigerians have expressed confusion over the government’s resistance towards the cryptocurrency and blockchain sectors.
During his presidential campaign, Nigerian President Tinubu vowed to legalize and endorse cryptocurrency technology. However, since assuming office in February 2023, the government has taken actions perceived as anti-crypto, causing supporters to question Tinubu’s stance on the industry.