Nigeria Fintech Zone Launches Blockchain-Powered PoS Solution

Zone, a leading fintech company in Nigeria and Africa, has introduced its blockchain-powered Point of Sales (PoS) solution aimed at providing seamless payments. This innovative PoS is built on the latest iteration of Zone’s next-generation payment infrastructure, marking a significant step forward in enhancing the African payment landscape.

As Africa’s first regulated blockchain network for payments, Zone is pioneering decentralized solutions that support cross-border transactions and multiple currencies. This new product is set to improve transaction reliability by directly routing transactions to issuers, offering same-day settlements for beneficiaries and their financial institutions, and establishing a robust framework to eliminate chargebacks and chargeback fraud. Importantly, Zone ensures that direct transaction routing to issuers complies with regulatory guidelines on inter-bank payments.

CEO’s Vision and Commitment

Zone’s CEO, Obi Emetarom, emphasized that the launch of this PoS solution is aimed at enhancing financial inclusion and facilitating seamless fund transfers. He stated:

“Today marks a pivotal moment not just for us at Zone, but also for the financial institutions we enable, and the esteemed customers they serve. 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 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.”

Key Features of Zone’s PoS Payment Gateway

Direct Card Routing: Zone’s decentralized payment switching network connects acquirers directly to issuers, optimizing the PoS transaction route and eliminating failure points. This ensures increased speed and reliability for merchants, agents, and cardholders.

No Chargebacks: The advanced PoS payment gateway eliminates chargebacks and chargeback fraud by auto-refunding customers for unsuccessful transactions and auto-declining fraudulent chargebacks in real time. This builds trust and satisfaction among all parties involved.

Same-Day Settlements: Payments from PoS terminals using Zone are settled on the same day and separately for each transaction. This ensures faster availability of funds for agents and merchants and simplifies the determination of value received for every transaction.