Fintech
Fintech company NeoFinity launches a payment tag for Generation Z and millennials
NeoFinity, the fintech arm of Neo Group, has introduced NeoZAP, a new payment tag tailored for India’s tech-savvy Gen Z and millennial audiences.
NeoZAP aims to enhance the payment experience with the convenience of tap and pay.
The product is compatible with over 40 million card machines and integrates with national public transport systems.
Key Features of NeoZAP:
Contactless Tap-and-Pay: Enabled by RuPay, NeoZAP enables secure, contactless transactions of up to ₹1 lakh at numerous locations across India.
NCMC Compatibility: NeoZAP works like a subway and bus ticket, simplifying travel by eliminating the need for multiple tokens and tickets.
Virtual Card: A virtual card for online transactions, accessible via the NeoZAP app, provides added security by not exposing bank account details.
Rewards Program: Users can get benefits like movie tickets from PVR Inox and Times Prime Lite subscriptions, with rewards worth up to ₹60,000.
Security Features: NeoZAP incorporates an 8-point security system, including a numberless design, secure NFC transactions, and instant card blocking.
It is the first prepaid card in India to offer transaction insurance through HDFC Ergo.
Rayan Malhotra, CEO, NeoFinity, said, “NeoZAP marks a new era in the way we approach payments in India. We believe NeoZAP will make everyday transactions more secure and enjoyable.”
Malhotra added: “NeoZAP provides a seamless payment solution that addresses the needs of today’s tech-savvy and mobile-first consumers.”