Zone, the company responsible for Africa’s inaugural regulated blockchain network for payments, has unveiled its latest innovation – the “ZonePOS” point-of-sale payment gateway solution on June 5.
This groundbreaking product is set to revolutionize the region, as stated in a press release from Zone. The company’s blockchain-driven payment infrastructure enables direct transaction routing to issuers while adhering to regulatory standards on interbank payments. This establishes Zone as one of the very few, if not the sole, decentralized gateway for currency-agnostic payments in the African market.
According to Zone CEO Obi Emetarom, “Our PoS Payment Gateway Product embodies our dedication to financial inclusion and the digital evolution of payments in Africa. With this new offering, we are thrilled to have taken a significant stride towards our vision of a world where individuals and businesses can seamlessly send and receive instant payments to anyone globally, using any payment method and in any currency.”
Key features of the product include accelerated transaction speeds, with Zone committing to same-day settlements through ZonePOS. Additionally, the service boasts blockchain-based charge-back protection.
The press release highlights 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 launch comes at a time of shifting regulatory landscape in Nigeria, one of the key markets for ZonePOS.
As per recent reports by Cointelegraph, young citizens have expressed confusion over the government’s resistance towards the cryptocurrency and blockchain sectors.
While Nigerian President Tinubu had promised to legalize and support cryptocurrency technology during his presidential campaign, the government’s recent anti-crypto actions have raised doubts among supporters regarding Tinubu’s stance on the industry.
Zone introduces new Point of Sale gateway with immediate settlements