Appzone takes new name to offer payment processing services

Appzone, a cloud-based software-as-a-service (SaaS) platform has changed its name to Zone as it pivots into payments and acceptance of digital currencies for financial service providers globally.

The company said it is building Africa’s first layer-1 and regulated blockchain network which enables direct transaction flow between financial service providers without an intermediary, bringing reduced transaction costs, instant dispute resolution, and reliability across Africa’s payment borders and beyond.

Zone also intends to enable a hybrid interim period in finance where Traditional Finance (TradFi) and Decentralised Finance (DeFi) will coexist seamlessly.

According to the United Nations, Africa’s population will grow to approximately 1.7 billion in 2030, with a potential for $91 billion in cross-border payments and a retail value of over $1.5 trillion. But at an $8.97 fee per transaction, cross-border payment within sub-Saharan Africa still has one of the most expensive remittance structures. In addition, beneficiaries typically cannot have value delivered instantly to their Bank accounts or mobile wallets. Zone’s Layer-1 blockchain network will allow payments initiated from one country in one currency to be received instantly in another country and currency at a fraction of prevailing costs.

The company says it connects some of Africa’s most prominent banks and fintechs within and across countries and utilises a native stable coin to provide real-time settlement for cross-border transactions. As Appzone, it 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.

Read also: Investment in sanitation value chain to boost Africa’s GDP – Reckitt Nigeria

It recently secured a Switching and Processing Licence from the Central Bank of Nigeria which makes it the first payment infrastructure company based on blockchain to be licenced in Africa.

“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. 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,” said Obi Emetarom, co-founder and CEO, Zone.

Appzone’s Banking-as-a-Service business will become a separate standalone company known as Qore as part of the rebrand. This ensures that the service continues to benefit existing clients and grow the reach of the SaaS platform. Qore will be led by Emeka Emetarom, co-founder and executive director of Appzone and Mudiaga Umukoro, co-founder and CEO of Appzone’s subsidiary, Appzone Core.

The company’s products process over $2 billion annually for more than 500 banks, fintech companies, and Microfinance Institutions in seven countries – this includes payments processing for six of Africa’s top 25 banks.

“At Zone, we’ve always been early adopters of innovative technology with the potential to transform industries – in this case, the finance industry. Our next-generation decentralised payment technology, which is the first of its kind, will challenge the status quo and become the future of payments for the world. We are encouraged by the pace of adoption we have seen so far and remain passionate about enabling financial services providers to reach their full potential,” Wale Onawunmi, Co-founder and CTO for Zone,

Appzone, a cloud-based software-as-a-service (SaaS) platform has changed its name to Zone as it pivots into payments and acceptance of digital currencies for financial service providers globally. The company said it is building Africa’s first layer-1 and regulated blockchain network which enables direct transaction flow between financial service providers without an intermediary, bringing reduced transaction costs, instant dispute resolution, and reliability across Africa’s payment borders and beyond. Zone also intends to enable a hybrid interim period in finance where Traditional Finance (TradFi) and Decentralised Finance (DeFi) will coexist seamlessly. According to the United Nations, Africa’s population will grow to approximately 1.7 billion in 2030, with a potential for $91 billion in cross-border payments and a retail value of over $1.5 trillion. But at an $8.97 fee per transaction, cross-border payment within sub-Saharan Africa still has one of the most expensive remittance structures. In addition, beneficiaries typically cannot have value delivered instantly to their Bank accounts or mobile wallets. Zone’s Layer-1 blockchain network will allow payments initiated from one country in one currency to be received instantly in another country and currency at a fraction of prevailing costs. The company says it connects some of Africa’s most prominent banks and fintechs within and across countries and utilises a native stable coin to provide real-time settlement for cross-border transactions. As Appzone, it 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. Read also: Investment in sanitation value chain to boost Africa’s GDP – Reckitt Nigeria It recently secured a Switching and Processing Licence from the Central Bank of Nigeria which makes it the first payment infrastructure company based on blockchain to be licenced in Africa. “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. 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,” said Obi Emetarom, co-founder and CEO, Zone. Appzone’s Banking-as-a-Service business will become a separate standalone company known as Qore as part of the rebrand. This ensures that the service continues to benefit existing clients and grow the reach of the SaaS platform. Qore will be led by Emeka Emetarom, co-founder and executive director of Appzone and Mudiaga Umukoro, co-founder and CEO of Appzone’s subsidiary, ...


Appzone, a cloud-based software-as-a-service (SaaS) platform has changed its name to Zone as it pivots into payments and acceptance of digital currencies for financial service providers globally. The company said it is building Africa’s first layer-1 and regulated blockchain network which enables direct transaction flow between financial service providers without an intermediary, bringing reduced transaction costs, instant dispute resolution, and reliability across Africa’s payment borders and beyond. Zone also intends to enable a hybrid interim period in finance where Traditional Fi...


Appzone, a cloud-based software-as-a-service (SaaS) platform has changed its name to Zone as it pivots into payments and acceptance of digital currencies for financial service providers globally. The company said it is building Africa’s first layer-1 and regulated blockchain network which enables direct transaction flow between financial service providers without an intermediary, bringing r...


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