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The Zone blockchain team has introduced a new decentralized solution aimed at facilitating rapid cross-border transactions in Africa through POS terminals. This solution enables instant payments in any currency.
The creators of Zone, Africa’s regulated L1 payment blockchain, have announced the debut of ZonePOS, a decentralized payment gateway designed to provide fast, secure, and seamless transactions via POS terminals in the area.
ZonePOS delivers a comprehensive solution for banks and FinTech firms that utilize payment terminals. The primary features of the system include:
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- Direct routing. The network links acquirers directly to issuers through a decentralized payment framework, enhancing transaction routing and removing points of failure, which guarantees high transaction speed and dependability.
- No chargebacks. The system removes chargebacks and chargeback fraud on POS terminals by automatically refunding failed transactions and rejecting dubious refunds in real-time.
- Same-day settlements. Transactions made through POS terminals are settled on the same day, improving the availability of funds for both agents and merchants.
The infrastructure of the payment gateway is built on the Zone blockchain, which is authorized by the Central Bank of Nigeria and facilitates direct transaction routing while adhering to regulatory standards.
Obi Emetarom, CEO and Co-Founder of Zone, stated that the POS payment gateway allows financial institutions to attain the highest levels of transaction reliability and operational efficiency. Emetarom asserts that ZonePOS is a manifestation of the company’s commitment to enhancing financial inclusion in Africa by fostering the digitalization of local payments. He claims that the presented solution is distinctive and establishes a new benchmark in the industry, making digital payments accessible to all financial providers.
In 2022, blockchain startups in Africa secured $474 million in venture capital. Distributed Ledger Technology (DLT) in the region is primarily advancing within the payments sector. The Send Globally service was introduced, enabling cross-border transfers of fiat currencies using BTC to Africa from Europe. Ripple has allowed African users to conduct cross-border crypto payments to the U.K., Australia, and the Gulf Cooperation Council.
Сообщение Decentralized Network of POS Terminals Launched in Africa появились сначала на CoinsPaid Media.
