Two of Nigeria’s foremost payment service providers, Accelerex and ITEX, have integrated with Zone’s blockchain-powered payment infrastructure, joining a growing list of financial institutions, banks, and fintech companies transitioning to decentralized solutions. This move is seen as a major development in Nigeria’s financial services sector, especially since the two firms collectively handle over half of the market share in Bank-focused Payment Terminal Service Provider (PTSP) operations.
Zone, which has emerged as one of Africa’s fastest-growing payment infrastructure companies, will now facilitate transactions for these industry giants. The integration signals a broader adoption of blockchain-based payment networks among mainstream financial institutions. This development is particularly notable given the historical dependence on centralized systems, which have often been prone to failures, delays, and reconciliation inefficiencies.
Accelerex and ITEX play a vital role in powering merchant payment transactions across Nigeria, processing billions of naira monthly. By connecting to Zone’s decentralized, regulated network, both companies gain access to an advanced system that ensures instant settlements and reduces transaction failures. This direct, peer-to-peer routing model removes the need for intermediaries, allowing issuers and acquirers to interact seamlessly and in real time.
Zone’s infrastructure offers several operational advantages, including automated reconciliation and robust chargeback prevention mechanisms. With end-to-end transaction transparency, the system minimizes the risk of disputes and fraudulent chargebacks. The blockchain-enabled solution ensures that transaction data is synchronized across parties, supporting accurate financial records and faster closure of accounts.
The shift also supports full compliance with the Central Bank of Nigeria (CBN) and Payment Terminal Service Aggregator (PTSA) regulations. As Zone operates within regulatory guidelines, Accelerex and ITEX are able to modernize their operations without compromising adherence to legal frameworks. This aspect is crucial for maintaining institutional trust while pushing the boundaries of technological innovation in finance.
According to company leadership at Accelerex, the decision to adopt Zone’s blockchain-powered platform was motivated by a need to optimize transaction processing, eliminate chargebacks, and enable real-time settlements. The integration was also seen as a way to enhance customer experience by offering more reliable and efficient payment services throughout Nigeria’s payment landscape.
Zone’s executive team also commented on the significance of these partnerships, interpreting them as a signal of an industry-wide pivot towards secure, scalable, and regulated blockchain infrastructure. They indicated that financial institutions are increasingly focused on operational efficiency, compliance, and transaction dependability—factors that the Zone network is engineered to address.
As two of the country’s largest PTSPs move toward blockchain adoption, the broader financial ecosystem in Nigeria is poised for transformation. More institutions are expected to follow suit as the benefits of decentralized infrastructure become more apparent in both service delivery and compliance capabilities. With Zone playing a central role in this shift, the company is positioning itself as a foundational element in Africa’s evolving payment landscape.
