Zone introduces new Point of Sale gateway featuring instant settlement functionality

Zone, the innovator behind Africa’s pioneering regulated blockchain network for payments, has introduced its latest innovation, the “ZonePOS” point-of-sale payment gateway solution on June 5.
The groundbreaking product is set to revolutionize the region, as per a press release from Zone.
According to Zone, the company’s advanced blockchain-driven payment system facilitates direct transaction routing to issuers while adhering to regulatory standards on interbank payments. This makes it one of the few, if not the only, decentralized gateways for currency-agnostic payments in the African market.
Zone CEO Obi Emetarom, expressed in a press release:
“Our PoS Payment Gateway Product is a testament to financial inclusion and the digital evolution of payments in Africa. With this new offering, we are thrilled to have reached another significant milestone towards our goal of a world where individuals and businesses can seamlessly make and receive instant payments globally, using any payment method and currency.”
The product boasts enhanced transaction speeds, with Zone assuring same-day settlements with ZonePOS, alongside blockchain-based charge-back protection.
The press release states that Zone’s PoS payment gateway “prevents chargebacks and chargeback fraud on PoS terminals by automatically refunding customers for failed transactions and instantly rejecting fraudulent chargebacks.”
This development comes amidst shifting regulatory dynamics in Nigeria, one of the regions where ZonePOS is being introduced.
As reported by Cointelegraph, the younger generation in Nigeria has shown confusion over the government’s resistance towards the cryptocurrency and blockchain sectors.
During the presidential campaign, Nigerian President Tinubu had promised to legalize and endorse cryptocurrency technology. However, since assuming office in February 2023, the government has taken actions against crypto, raising doubts among supporters regarding Tinubu’s stance on the industry.