Fintech software company Appzone Group declare the launch of Zone, a blockchain platform for making payments. With this new system, Appzone Switch facilitates local and regional payments in fiat and digital currencies.
Although AppZone makes fintech and banks do transactions with a centralized electronic financial transaction (EFT) switches. Thou EFTs lead to long delays, especially in the event of default, thus delaying financial transactions.
Uche Elendu CEO of Appzone Switch said:
“Zone Switch represents the future of cashless and borderless payments in Africa. […] The platform will eliminate the systemic risk associated with centralized payments systems while providing the uptime and throughput required in a truly cashless society.”
Transaction process cost was reduced by the company and improved customers experiences for end-users. The platform also provided various institutions like account-to-account transfers, merchant payments, and cash transactions at ATMs or agent offices, with programming interfaces.
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