Zone launches PoS gateway with instant settlements

cyptouser5 months agoCryptocurrencies News161
55966e89>

Zone, the company behind Africa’s first regulated blockchain network for payments, announced the launch of its new “ZonePOS” point-of-sale payment gateway solution on June 5. 

The new product appears to be a novel solution for the area, according to a press release from Zone.

Per Zone, the company’s blockchain-powered payment infrastructure implements direct transaction routing to issuers within regulatory guidelines on interbank payments. This marks one of the few, if not the only, decentralized gateway for currency-agnostic payments in the African market.

Source: Zone.

Zone CEO Obi Emetarom, in a press release, commented:

“Our PoS Payment Gateway Product is a commitment to financial inclusion and to the digital future of all payments in Africa. With this new offering, we are excited to have taken yet another major step towards our vision for 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, with Zone promising same-day settlements with ZonePOS. The service also features blockchain-based charge-back protection.

According to the press release, Zone’s PoS payment gateway “eliminates chargebacks and chargeback fraud on PoS terminals by auto-refunding customers for unsuccessful transactions and auto-declining fraudulent chargebacks in real-time.”

Related: Nigeria’s interest in Bitcoin unfazed by regulatory restrictions

The new product comes amid a changing regulatory environment in Nigeria, one of the areas where ZonePOS is launching.

As Cointelegraph recently reported, younger citizens have expressed “bewilderment” over the current government’s pushback against the cryptocurrency and blockchain industries.

Nigerian President Tinubu pledged to legalize and support cryptocurrency technology during the campaign for his presidency. However in the time since he was elected in February of 2023, the government has made seemingly anti-crypto moves causing supporters to question Tinubu’s intentions for the sector.

The content on this website comes from the Internet. Due to the inconvenience of proofreading the authenticity and accuracy of the copyright or content of some content, it may be temporarily impossible to confirm the authenticity and accuracy of the copyright or content. For copyright issues or other issues caused by this, please Call or email this site. It will be deleted or changed immediately after verification.

related articles

Bitcoin shows 'signs of exhaustion' as Q1 BTC price gains near 70%

Bitcoin shows 'signs of exhaustion' as Q1 BTC price gains near 70%

25cc9d4a˃Bitcoin (BTC) risks “exhaustion” as it nears the end of Q1, 2024 with 65% BTC price gains.I...

Tether champions decentralized systems expanding tech, AI, education and financial reach

Since its inception, Tether has expanded from a stablecoin to a financial linchpin in developing reg...

Changpeng Zhao resigns from board of Binance.US

Changpeng  Zhao has stepped down from his position as chairman of the board of directors for Binance...

SEC seeks $5.3B judgment against Terraform Labs and Do Kwon

SEC seeks $5.3B judgment against Terraform Labs and Do Kwon

1205f261˃The United States Securities and Exchange Commission (SEC) has filed a motion requesting bi...

EU intensifies clampdown on Russian crypto executives with new sanctions

Earlier this week, the EU announced new sanctions against Russian nationals leading cryptocurrency f...

VanEck intends to be first spot ETH ETF issuer, argues against simultaneous approvals

VanEck Head of Digital Assets Research Matthew Sigel said on May 22 that the firm should be able to...