Zone, the innovative company behind the pioneering blockchain network for payments in Africa, has introduced its latest groundbreaking product, the “ZonePOS” point-of-sale payment gateway solution on June 5th.
This new offering is set to revolutionize the payment landscape in the region, as stated in a press release from Zone. The company’s cutting-edge blockchain-enabled payment system enables direct transaction routing to financial institutions 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 available in the African market.
According to Zone CEO Obi Emetarom, the launch of the PoS Payment Gateway Product signifies a dedication to financial inclusion and the digital transformation of payment systems across Africa. With this innovative solution, Zone is proud to be one step closer to its vision of enabling individuals and businesses to send and receive instant payments globally, using any payment method and currency.
Key features of the ZonePOS include rapid transaction processing, with Zone guaranteeing same-day settlements. Additionally, the service provides blockchain-based protection against chargebacks.
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 declining fraudulent chargebacks.
This announcement comes at a time of shifting regulatory dynamics in Nigeria, where ZonePOS is being introduced. Recent reports have shown that younger Nigerians are puzzled by the government’s resistance towards the cryptocurrency and blockchain sectors.
While Nigerian President Tinubu initially promised to legalize and promote cryptocurrency technology during his presidential campaign, his administration has taken actions that appear to be anti-crypto since he assumed office in February 2023. This has led to uncertainty among supporters regarding Tinubu’s stance on the sector.