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Leading Payment Terminal Service Providers (PTSP), Accelerex & ITEX Join Zone’s Blockchain Network

Leading Payment Terminal Service Providers (PTSP), Accelerex & ITEX Join Zone’s Blockchain Network

Lagos, Nigeria – Might 6, 2025 – Nigeria’s main Fee Terminal Service Suppliers (PTSPs), Accelerex and ITEX, have partnered with Zone, Africa’s fastest-growing cost infrastructure firm, by integrating with its regulated blockchain community for funds. Introduced on Might 5, 2025, this transfer, representing over 50% of the bank-focused PTSP market share in Nigeria, marks a pivotal shift towards blockchain-enabled funds as the brand new normal for monetary establishments. The collaboration, coated by TechCabal and BusinessDay NG, guarantees to reinforce transaction reliability, get rid of chargebacks, and allow real-time settlements, addressing longstanding inefficiencies in Nigeria’s cost ecosystem.

A Sport-Altering Partnership

Accelerex and ITEX, licensed by the Central Financial institution of Nigeria (CBN) as PTSPs and Fee Answer Service Suppliers (PSSPs), course of billions in month-to-month transactions throughout service provider areas nationwide. By becoming a member of Zone’s decentralized, CBN-approved blockchain community, they achieve entry to a strong infrastructure that bypasses conventional centralized techniques’ failure factors, equivalent to delays and reconciliation errors. This integration permits direct transaction routing to issuers, real-time reconciliation, and compliance with CBN pointers, considerably bettering service choices to their major shoppers—business banks (acquirers).

Chuks Anakudo, Managing Director of Accelerex Nigeria, emphasised the transformative impression: “Our integration with Zone’s blockchain-powered cost community strengthens our skill to course of funds seamlessly, get rid of chargebacks, guarantee real-time settlement, and preserve full regulatory compliance, finally bettering transaction effectivity throughout Nigeria.” Obi Emetarom, Co-Founder and CEO of Zone, highlighted the broader implications: “The adoption of blockchain funds by main gamers like Accelerex and ITEX indicators an industry-wide shift. We’re proud to supply the regulated blockchain infrastructure that makes this transformation attainable.”

Why Blockchain Issues

Nigeria’s conventional cost infrastructure has lengthy grappled with challenges, together with a number of failure factors, delayed settlements, and chargeback fraud. Zone’s Layer-1 blockchain community, the primary decentralized cost community in Africa, addresses these points by:

  • Eliminating Intermediaries: Transactions route on to issuers, decreasing delays and prices.
  • Actual-Time Reconciliation: Instantaneous settlement and dispute administration reduce chargebacks.
  • Regulatory Compliance: Permitted by the CBN, guaranteeing adherence to monetary rules.
  • Reliability: Decentralized structure eliminates single factors of failure, guaranteeing uptime.

This shift aligns with international tendencies towards blockchain-based funds, with firms like B2BinPay and Stripe providing related options for crypto and fiat transactions. In Nigeria, the place cashless transactions surged 45% year-on-year in 2024 per NIBSS, the transfer positions Accelerex and ITEX as pioneers in modernizing monetary providers.

Accelerex and ITEX: Trade Leaders

  • Accelerex: A number one fintech servicing all merchant-acquiring banks in Nigeria, Accelerex operates over 120,000 cost channels throughout 36 states. Licensed by the CBN and Financial institution of Ghana, it has ranked among the many high three PTSPs by transaction worth since 2018, per NIBSS. Its improvements, just like the RexPay on-line cost platform and Nexgo G2 POS terminal, underscore its dedication to seamless funds.
  • ITEX: A CBN-licensed super-agent, ITEX drives monetary inclusion by means of POS options and company banking. Acknowledged because the “Most Environment friendly PTSP” on the CBN’s 2019 EPIS Effectivity Awards, ITEX pioneered POS deployment in Nigeria, providing tailor-made functions for payments, tariffs, and airtime.

Each firms’ dominance—dealing with over half the PTSP market—amplifies the partnership’s impression, as they leverage Zone’s infrastructure to reinforce providers for banks, retailers, and customers.

Trade and Social Influence

The combination indicators a broader {industry} pivot towards blockchain, following Nigeria Inter-Financial institution Settlement System (NIBSS)’s 2024 transfer to incorporate POS standardization on Zone’s community. Posts on X echoed pleasure, with @zonenetworkhq stating, “The way forward for funds is right here,” and @techcabal_pr noting the shift towards blockchain-enabled requirements. The partnership aligns with Nigeria’s push for monetary inclusion, as Accelerex’s Agent Community Platform and ITEX’s company banking options goal underserved segments.

Critics, nonetheless, warning about blockchain’s scalability and vitality calls for, with some X customers questioning adoption prices for smaller retailers. But, Zone’s deal with compliance and effectivity counters these issues, positioning Nigeria as a fintech chief in Africa, the place digital funds are projected to develop 20% yearly by means of 2030, per Statista.

Wanting Forward

As Accelerex and ITEX roll out blockchain-powered funds, extra establishments are anticipated to affix Zone’s community, modernizing Nigeria’s monetary ecosystem. The partnership’s success will hinge on service provider adoption and shopper belief, with early knowledge exhibiting decreased transaction failures in pilot phases. For updates, go to TechCabal or BusinessDay NG.