Delhi, 28th August 2024: NeoFinity, the pioneering fintech venture within the Neo Group, has partnered with RuPay to announce NeoZAP, India’s premier payment tag. It allows payments without the internet with just a tap.
The NeoZAP payment tag is a convenient addition to a customer’s daily life. Users can attach it to their phones and tap on the PoS machine to pay. Payments can be made at restaurants, retail outlets, and cafes, and the virtual card can also be used to make online payments. Its versatility extends to all public transit systems like metros and buses, effortlessly integrating into modern consumers’ lifestyles and making payments a breeze.
RuPay has developed various contactless payment solutions in partnership with multiple banks and financial institutions. With RuPay Contactless, customers can easily make payments on public transport, in-store purchases, and online transactions. This system makes instant tap-and-go payments, eliminating needing a physical card.
Rayan Malhotra, CEO of NeoFinity, expressed his enthusiasm about the collaboration, stating, “RuPay and NeoFinity are working together to revolutionize the payments landscape in India. With the latest tech know-how of NeoFinity and RuPay’s vast coverage across India, we are reshaping the future of payments where convenience and security are paramount. This is just the beginning, and we plan to launch other exciting new fintech products with RuPay.”
With RuPay, NeoZAP works seamlessly at over 5.5 million card machines across India, ensuring a hassle-free payment experience. Consumers can pay up to ₹5000 without a PIN, and any payments above are protected with a PIN. This payment tag also gives rewards and benefits from leading brands like Myntra, Times Prime, PVR Inox, Cult.Fit, Starbucks, and others worth over ₹60,000.
NeoZAP prioritizes security with its “8-point security promise”, which includes a unique numberless design for enhanced protection, stringent data security policies, customizable transaction limits for online and offline spending, and transaction insurance against fraud powered by HDFC Ergo.
The Neo Group is a new-age wealth and asset management platform, and its payments and fintech arm, NeoFinity, in partnership with RuPay, is all set to redefine contactless payments in the country. It will be interesting to see how Indians adopt and use this new-age payment mode to make it their preference. The NeoZAP payment tag is now available for pre-order, and users can visit the official website to secure it at a special price.