Zone, NIBSS partner to use blockchain to record POS payments
- Zone partners with NIBSS to introduce blockchain technology to POS terminal payments.
- The partnership aims to improve transaction reconciliation, reduce customer wait times, and minimize POS-related fraud.
- Zone is integrating its PTSA functionality into the blockchain network to streamline the communication path for processing POS transactions.
The partnership between Zone and NIBSS to introduce blockchain technology to POS terminal payments is a positive development for the Nigerian payments system. It has the potential to enhance transaction efficiency, reduce fraud, and improve customer experience. However, the scalability of the blockchain-based PTSA and the need to accommodate the growing volume of digital payments should be closely monitored.
