As a researcher with a strong background in fintech and blockchain technology, I am particularly intrigued by the latest development from Zone, a pioneering African company that has just launched its new product, ZonePOS – a point-of-sale (PoS) payment gateway powered by blockchain technology. This innovative system is designed to connect directly to banks for transaction execution while complying with interbank payment regulations, making it one of the earliest gateways in Africa to support multicurrency payments.
As a researcher exploring the latest advancements in the financial tech sector across Africa, I’m thrilled to share exciting news about Zone, a pioneering company leading Africa’s first regulated blockchain network for transactions. They have recently introduced a new product named ZonePOS – an intuitive point-of-sale payment gateway that harnesses the power of blockchain technology.
The ZonePOS system functions by linking directly to banks for transaction processing while adhering to interbank payment rules. Notably, it carries out this task in a decentralized manner through the blockchain of the zone, making it one of the pioneering multi-currency payment gateways in Africa.
“At Zone, we’re dedicated to financial inclusion and the digital transformation of payments in Africa with our PoS Payment Gateway,” shared Obi Emetarom, the CEO. “We’re thrilled to have advanced another significant milestone towards our goal: a global economy where individuals and businesses can effortlessly transact in real time, utilizing any payment method and currency.”
The ZonePOS platform boasts enhanced transaction processing, enabling faster completion of sales than before, and offers next-day fund settlement instead of the standard waiting period of two to three business days. Additionally, it employs an advanced refund system based on blockchain technology and effectively thwarts unauthorized chargebacks in real time.
At this pivotal moment for blockchain cryptocurrency regulations in Africa, ZonePOS’s entry into the Nigerian market is noteworthy. In Nigeria, a key target country for ZonePOS, there is confusion among the population due to conflicting messages from the government regarding cryptocurrencies. Despite Nigerian President Bola Tinubu’s pledge during his campaign to support and legalize cryptocurrencies, certain actions taken since assuming office have raised doubts.
As a researcher studying financial technology in Africa, I’d describe it this way: Regardless of the regulatory landscape, Zone’s innovative solution can significantly boost financial inclusion and upgrade payment systems across Africa. With ZonePOS being the initial decentralized multi-currency payment portal exclusively tailored for Africa, this marks a pivotal moment in the regional adoption of cryptocurrencies.
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2024-06-06 04:20