Zone debuts new Point of Sale gateway featuring immediate settlements

Zone, the pioneer of Africa’s first regulated blockchain network for payments, made headlines on June 5 with the announcement of its latest innovation, the “ZonePOS” point-of-sale payment gateway solution.
Described as a groundbreaking advancement for the region, Zone’s press release revealed that the company’s blockchain-driven payment infrastructure facilitates direct transaction routing to issuers while adhering to regulatory standards for interbank payments. This positions ZonePOS as a unique decentralized gateway for currency-agnostic payments within the African market.
CEO of Zone, Obi Emetarom, shared his thoughts on the new product in a statement, emphasizing its role in promoting financial inclusion and advancing the digital landscape of payments across Africa. He expressed enthusiasm for the opportunities created by this offering, underscoring the company’s commitment to enabling seamless, instant payments globally, across various payment methods and currencies.
Key features of ZonePOS include enhanced transaction speeds, with Zone guaranteeing same-day settlements through its platform. Additionally, the service boasts blockchain-based charge-back protection, ensuring secure transactions for users. The press release highlighted the gateway’s ability to prevent chargebacks and chargeback fraud by automatically refunding customers for failed transactions and rejecting fraudulent chargebacks in real-time.
The launch of ZonePOS comes at a pivotal moment amidst evolving regulations in Nigeria, one of the primary markets for the new product. Recent reports have indicated a sense of confusion among younger Nigerians regarding the government’s stance on cryptocurrencies and blockchain technologies.
Despite President Tinubu’s initial promises to legalize and support cryptocurrency technology during his presidential campaign, the government’s actions following his election in February 2023 have raised concerns among supporters. The apparent anti-crypto measures have sparked skepticism about Tinubu’s intentions for the sector, creating a challenging environment for innovation and growth.