Introducing ZonePOS

Nigerian blockchain startup Zone, known for facilitating payment processing for banks and fintechs, has unveiled its new point-of-sale (PoS) payment gateway solution, "ZonePOS." This launch represents a significant advancement in payment processing technology for banks and fintechs deploying PoS terminals.

Comprehensive Payment Solution

Key Features of ZonePOS

ZonePOS offers a robust and reliable payment processing solution. The key features include:

  • Direct Transaction Routing: Ensures transaction reliability by routing transactions directly to issuers.
  • Same-Day Settlement: Provides beneficiaries and their financial institutions with same-day settlement.
  • Elimination of Chargebacks and Fraud: Implements a robust framework that eliminates chargebacks and chargeback fraud. The system auto-refunds customers for unsuccessful transactions and auto-declines fraudulent chargebacks in real-time.

“Our advanced 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 — thereby building a foundation of trust and satisfaction among all parties involved,” stated Zone.

Zone’s Blockchain Network

Zone operates a layer-1 blockchain network that facilitates direct transaction flow between financial service providers without intermediaries. This network automates settlement, reconciliation, and dispute management. Over 20 of Africa's leading banks, fintechs, and other financial institutions (OFIs) are connected to this network, leveraging its capabilities for efficient payment processing.

Recognition and Expansion

Zone was the only blockchain company listed in the "Africa's Fastest Growing Companies 2023" by Financial Times and Statista. The company raised $8.5 million in its first venture capital funding round in March 2024, with plans to expand the use cases for its blockchain network beyond ATMs to reach more users.

Vision for a Global Payment Ecosystem

“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,” said Obi Emetarom, CEO and Co-Founder of Zone.

Regulatory Compliance and Future Prospects

CBN-Licensed Payment Switch

The blockchain-powered payment infrastructure operates as a CBN-licensed payment switch, enabling direct transaction routing to issuers without violating regulatory guidelines on inter-bank payments. This ensures compliance while providing innovative payment solutions.