NeoFinity and RuPay Launch NeoZAP, India’s First Payment Tag

Gurugram: NeoFinity, a fintech firm under the Neo Group, has partnered with RuPay to launch NeoZAP, India’s first payment tag. The firm said that RuPay’s extensive network will allow NeoZAP to work seamlessly at over 5.5 million card machines across India.

NeoZAP enables users to make payments without the internet by tapping on a PoS machine. The tag can be attached to phones and is usable in restaurants, retail outlets, cafes, and public transit systems.

Users can make payments up to ₹5,000 without a PIN, with additional security for larger transactions. NeoFinity said that NeoZAP prioritizes safety with its “8-point security promise,” including a numberless design and transaction insurance. Rayan Malhotra, CEO of NeoFinity, emphasized their goal to revolutionize India’s payments landscape.

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