Zone, the pioneer of Africa’s initial 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 local market, as stated in a press release from Zone. The company’s blockchain-powered payment system facilitates direct transaction routing to issuers while adhering to regulatory standards on interbank payments. It stands out as one of the few, if not the only, decentralized gateways for currency-agnostic payments in Africa.
CEO of Zone, Obi Emetarom, expressed his thoughts in a press release, stating: “Our PoS Payment Gateway Product signifies our commitment to financial inclusivity and the digital evolution of payment systems in Africa. With this innovative offering, we are proud to have taken a significant leap towards our vision of a world where individuals and businesses can send and receive instant payments globally, using any payment method and currency.”
Key features of the product include enhanced transaction speeds, with Zone guaranteeing same-day settlements with ZonePOS. Additionally, the service incorporates blockchain-based protection against chargebacks.
According to the press release, Zone’s PoS payment gateway “prevents chargebacks and chargeback fraud on PoS terminals by automatically refunding customers for failed transactions and rejecting fraudulent chargebacks in real-time.”
This launch comes at a time of shifting regulations in Nigeria, one of the markets where ZonePOS will be introduced. Despite recent restrictions, as reported by Cointelegraph, the younger generation in Nigeria remains enthusiastic about Bitcoin and blockchain technologies.
President Tinubu of Nigeria had pledged to legalize and promote cryptocurrency technology during his presidential campaign. However, since taking office in February 2023, the government has taken actions that appear to be anti-crypto, leading to uncertainty among supporters regarding Tinubu’s stance on the industry.