In recent developments, 3 Fintech companies in Nigeria have incorporated the popular blockchain payments network, Zone. Notably, these organizations are KongaPay, Baxi by Onafriq, and FairMoney Microfinance Bank.
These payment service platforms and mobile money service providers have joined other financial institutions leveraging Zone’s blockchain tech. These include Zenith Bank, UBA, First Bank, and other notable institutions in Africa.
To point out, Zone recently launched a decentralized Payment of Service (PoS) product, ZonePOS, before this latest onboarding. Also, the firm partnered with the Nigerian Inter-Bank Settlement System (NIBSS) to enhance decentralized payment options using blockchain technology.
By integrating FairMoney, Baxi and KongaPay into its blockchain framework, Zone continues to reshape the finance landscape in the continent.
Commenting on the development, Zone’s CEO, Obi Emetarom states, “We are excited to welcome Baxi, FairMoney, and KongaPay to our network. Their integration is an important step in our journey to advance the payment landscape in Africa and beyond. It underscores the growing trust in our technology and its ability to deliver on our promise of reliable, frictionless, and universally interoperable payment experiences across various financial service verticals,” said the CEO.
About Zone Payment Network
Zone Network is a payment platform utilizing blockchain functions to enable users to trade digital assets. According to Zone, “We are building one global network to pay anyone, through any means, in any currency.”
Noteworthy is that Zone’s interface is easy to use, ensuring “frictionless operations” for users. Meanwhile, a layer-1 blockchain function assures users of 100% transaction success across the platform.
Among other achievements, Zone Network is the first decentralized blockchain-backed payment platform licensed in Africa. More importantly, Zone aims to institute digital payments and decentralized finance to eliminate the limitations of traditional banking.
Consequently, Zone is advancing digital trading and DeFi in Africa empowered by blockchain technology and a good user interface.