- The African payment company, Appzone, which is a regulated provider of blockchain-based money transfer infrastructures, is changing its name to “Zone”.
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It is also moving away from its previous software as a service starting point and becoming a payment processing service.
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“With this transition to Zone, we are utilising the power of blockchain technology to connect every monetary store of value and enable reliable, frictionless and universally interoperable payments,” said a senior spokesperson for the company.
Appzone, a leading name in the African fast money transfer sphere, has confirmed that it will be changing its name after a major rebrand and will be known purely as “Zone”.
The company, which is a regulated provider of blockchain-based money transfer infrastructures, can take digital currencies.
It can do this on behalf of financial services institutions across the globe and offers various other services, including instant dispute resolution.
But the firm is also undergoing a deeper structural change as well as a name change and will be altering its service offer. It is moving away from its previous software as a service starting point and becoming a payment processing service.
The new service will allow the company to accept both cryptocurrencies and traditional payments.
Obi Emetarom, the CEO and Co-Founder of the firm, said that his firm had been changing things up in the payments sector for a long time.
“We have led Africa’s fintech sector in global firsts for over a decade,” he explained in remarks made to the press.
“As Appzone, we launched the first core banking and omnichannel software on the cloud as well as the first multi-bank direct debit service based on single global mandates,” he added.
He also said that moving to Zone would allow blockchain technology to bring together many different types of value.
“With this transition to Zone, we are utilising the power of blockchain technology to connect every monetary store of value and enable reliable, frictionless and universally interoperable payments,” he explained.
And he added that the company was in the process of building “one global network” to allow for all sorts of payments to occur.
“In doing this, we are building one global network to pay anyone through any means, in any currency, which will ultimately maximise financial inclusion and accelerate economic prosperity for Africa and the rest of the world,” he said.
The company has a distinguished history despite its relatively short existence and was previously part of the Google for Startups Accelerator.
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