Zone, the company behind the first regulated blockchain network for online payments…
Zone, the company behind Africa’s first regulated payments blockchain network, announced the launch of its new point-of-sale payment gateway solution “ZonePOS” on June 5.
The new product appears to be a new solution for Zone, according to a Zone press release.
For each region, the company’s blockchain-powered payments infrastructure implements direct routing of transactions to issuers, complying with regulatory guidelines on interbank payments. It is one of the few, if not the only, decentralized gateways for non-currency-related payments in the African market.
source: region.
Obi Emitarom, CEO of the region, commented in a press release:
“Our PoS payment gateway product is a commitment to financial inclusion and the digital future of all payments in Africa. With this new offering, we are excited to take another important step toward our vision of a world where individuals and businesses can make and receive instant payments to and from anyone in the world, through any payment method and in any currency.
Among the product’s features are increased transaction speeds, as Zone promises same-day settlements with ZonePOS. The service also offers blockchain-based recharge protection.
According to the press release, Zone’s PoS payment gateway “eliminates chargebacks and chargeback fraud on PoS terminals by automatically refunding customers for unsuccessful transactions and automatically rejecting fraudulent chargebacks in real time.”
about: Nigeria’s Interest in Bitcoin Unaffected by Regulatory Restrictions
The new product comes amid a changing regulatory environment in Nigeria, one of the regions where ZonePOS is launching.
As Cointelegraph recently reported, young citizens have expressed “bewilderment” over the current government’s response against the cryptocurrency and blockchain industries.
Nigerian President Tinubu pledged to legitimize and support cryptocurrency technology during his presidential election campaign. However, since his election in February 2023, the government has taken seemingly anti-crypto measures, leading his supporters to question Tinubu’s intentions regarding the sector.
