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NeoFinity launch RuPay "NFC Tag" Card (Virtual card also available)

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abhishek012

NeoFinity launch RuPay "NFC Tag" Card (Virtual card also available)

Website: https://neofinity.in/...ap

neozap

SUMMARY

NeoZAP is a payment tag that can be used to make payments with a simple tap on card machines, removing the need for internet connectivity

Equipped with NFC (Near Field Communication) technology, the payment tag comes in the form of a wearable sticker that can be easily attached to the back of a phone

With features such as fraud insurance payment and numberless card designs, the new offering aims to cater to premium GenZ and millennial customers

In addition, the fintech company has also partnered with brands such as Times Prime, PVR, INOX, Swiggy, and Zomato to enable users to unlock rewards and discounts with every transaction.

What additional rewards and benefits can I get with NeoZAP ?

NeoZAP offers a range of rewards & benefits from choicest brands to bring you the most rewarding payment experience possible:

  • Get Times Prime Membership with benefits from brands like Myntra, Ajio Luxe, YouTube Premium, Tinder Gold, Starbucks & 100+ brands
  • Free Movie Tickets every month from PVR INOX
  • Sign Up reward benefits worth ₹20,000 from our partner brands
  • Access to Rewards Store with 200+ top brands including UCB, Only, BIBA, Apple and many more
  • 100+ additional RuPay Platinum-exclusive offers

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The payment and fintech arm of Peak XV Partners-backed asset management company Neo Group, NeoFinity, has launched a new digital payments tag called ‘NeoZAP’ at INR 499.

Equipped with NFC (Near Field Communication) technology, the payment tag comes in the form of a wearable sticker that can be easily attached to the back of a phone. The tag can be used to make payments with a simple tap on card machines, removing the requirement for physical cards or internet connectivity.

While NeoZAP can be ordered from the company’s website, it is yet to officially announce the launch of the payment tag.

NeoZAP works without internet or battery and can be used to make payments for both online and offline transactions. The company claims that the payment tag has a transaction speed of 480 milliseconds, which makes it the “quickest payment method available in the market”.

Speaking with Inc42, NeoFinity cofounder and CEO Rayan Malhotra said, “The idea behind launching NeoZAP stemmed from identifying gaps in existing payment methods like UPI and cards. Despite UPI’s efficiency, its process — unlocking the phone, scanning QR codes, and entering a PIN — proved slow. NeoZAP was conceived to address these shortcomings, offering a faster payment experience”.

While Malhotra said that the tag is priced at INR 999, early adopters can buy it for INR 499. However, it can be pre booked at INR 33 on the company’s website.

The company claims that the tag works on all RuPay-compliant card machines. Malhotra also said that the tag facilitates online transactions through a virtual card available on its app which is recognised by ecommerce players like Amazon and Flipkart. It can also be used to avail various public transportation services across the country.

“With NeoZAP, users can travel nationwide on metro, rail, and buses without the need for a separate smart card. NeoZAP’s national compatibility makes it usable across all metros and buses, including those in Delhi, Chennai, and more, with tap services supported. It is National Common Mobility Card (NCMC) enabled, embodying the concept of one nation, one tag”, added Malhotra.

NeoFinity is largely looking to cater to Gen Z and millennial (18-35 age group) users in urban and Tier-II cities.

The platform is also looking to woo customers by offering, what it calls, India’s first prepaid card with fraud insurance payment. It has partnered with HDFC Ergo to offer digital fraud insurance, providing users with added peace of mind and financial protection.

On the security front, NeoFinity claims that transactions below INR 2,000 require no PIN entry on NeoZAP. However, it has an eight-step built-in security feature for transactions above this threshold.

Other features include numberless card designs, prepaid wallet model (which limits exposure to potential fraud), and other privacy measures that ensure sensitive information remains secure.

In addition, the fintech company has also partnered with brands such as Times Prime, PVR, INOX, Swiggy, and Zomato to enable users to unlock rewards and discounts with every transaction.

Looking ahead, the company aims to onboard 100,000 customers in the first year. It also plans to expand its offerings to include credit card options and innovative features like customisable tags, Malhotra added.

NeoFinity is the fintech venture of the Neo Group, which has four key verticals – wealth advisory, asset management, multi-family offices and a wealth management platform for independent advisors.

Neo Group was founded in May 2022 by Nitin Jain, former wealth management CEO at PAG-Edelweiss Financial Services. The Peak XV-backed company oversees over $3 Bn in assets under advisement, including $360 Mn in assets under management (AUM)

It is pertinent to note that fintech startup LivQuik, in partnership with National payments Corporation of India (NPCI), launched an ‘OTG Ring’ last year. The wearable ring is similar to NeoZAP and allows users to make contactless payments.

Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Deal Captain Deal Captain
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Ek din Tumhe RBI uthaa legi.

Meri bat mano. Ruk jao.

Wingman Wingman
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Welcome to the future of payments.
Your journey to exclusive & effortless transactions begins now.

You’ve reserved your place among
the select few users who’ll experience NeoZAP before others.

Got it for Rs. 33

Thanks @abhishek012

Deal Cadet Deal Cadet
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its not at 33, its reserve at 33, later pay 499
Deal Cadet Deal Cadet
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for those who are in doubt.

1. it's not a credit card, it's just a prepaid card (you need to load money to wallet to use this card)

2. it's not LTF (as per their terms they can add fee at any time)

3. it's not so useful if you have nfc in your mobile

4. we have already cards with same functionality

5. rewards are not at all attractive

6. best alternate is firstap from idfc which is available at ontime fee of just 99rs.

overall it's a bad deal in general.

1/5

47 Comments  |  
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Deal Captain Deal Captain
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Ek din Tumhe RBI uthaa legi.

Meri bat mano. Ruk jao.

Helpful Helpful
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nirmlala taai saucks.

View 4 more replies
Pro Deal Legend Pro Deal Legend
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one time 499?

Deal Cadet Deal Cadet
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That's the thing I doubted but it just 33rs for pre booking charges so I paid

Wingman Wingman
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Welcome to the future of payments.
Your journey to exclusive & effortless transactions begins now.

You’ve reserved your place among
the select few users who’ll experience NeoZAP before others.

Got it for Rs. 33

Thanks @abhishek012

Deal Cadet Deal Cadet
Link Copied
have a got a link on wp and sms but that not opening and showing expired or deleted
is it same with u?
View 3 more replies
Wingman Wingman
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Yes the same is happening 

Deal Newbie Deal Newbie
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Registered for it. Nice share bro!  👍🏼

The company is legit - very experienced people from financial side.  They have raised good funding from Peak XV last year. So credibility is quite high!

I love the idea & website design. Let's hope the product is good 🙏🏻

image

Deal Newbie Deal Newbie
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Well it's something never hured about and their charging a booking amount of Rs.33 per customer and what if it never launches ? 33*10 lakh would make them 3.3cr joy and imagine more people adding  on fomo basis Goodluck people rather the intelligent ones wait for its launch if it ever does

Deal Hunter Deal Hunter
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Then it will become Freedom 251

Helpful Helpful
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Most cards these days are tap based. What's so special in this?

Deal Subedar Deal Subedar
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Good question

I just applied because of virtual wallet thing, other wise i wont have:)

Deal Subedar Deal Subedar
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This sounds like that "freedom phone 251" xD


anyone remember? how many of you agree?

Deal Subedar Deal Subedar
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Fun fact:


I never tried Freedom phone 251

but now trying this NeoFinity

Wish me luck people  xD

Side note: I just applied because of virtual wallet thing, other wise i wont have:)

View 6 more replies
Deal Subedar Deal Subedar
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VU+ for the quick info sharing:)

Deal Cadet Deal Cadet
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Disclaimer - 

Free movie tickets every month on spends above ₹7,500

It is probably a CC so you will have to spend money to be eligible for the offer. You can't just transfer money from one account to another and claim the benefits

Will the Timesprime lite work on an account in which the subscription is over (Old account) or is it only for new account? 

@abhishek012

Deal Newbie Deal Newbie
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image

View 1 more reply
Deal Hunter Deal Hunter
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So this site is charging 33 rs for pre-book? 

Deal Subedar Deal Subedar
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Yes, and we get sms link for invoice once completed

Savings Mentor Savings Mentor
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Add Axis Neo RuPay to PayZapp and you have your own NeoZap smile

Deal Subedar Deal Subedar
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hahahahahaha but both are competitors

maybe ex employess of both the banks started lol ??? just kidding:)
Comrade Comrade
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Skipping this as the phone is already having nfc

Deal Newbie Deal Newbie
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Every time you refresh the site the counter drops by 5 . Very gimmicky 🤣

Deal Cadet Deal Cadet
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for those who are in doubt.

1. it's not a credit card, it's just a prepaid card (you need to load money to wallet to use this card)

2. it's not LTF (as per their terms they can add fee at any time)

3. it's not so useful if you have nfc in your mobile

4. we have already cards with same functionality

5. rewards are not at all attractive

6. best alternate is firstap from idfc which is available at ontime fee of just 99rs.

overall it's a bad deal in general.

1/5

Deal Subedar Deal Subedar
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just registered to see if this virtual card is useful for cc rotation transfers:)

if this card really comes out

View 1 more reply
Deal Cadet Deal Cadet
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registered

Benevolent Benevolent
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Vu fireThank you for sharing this valuable information, buddy.  Registered successfully raised_hands  

Deal Newbie Deal Newbie
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All debit and credit cards have been NFC enabled. No need to purchase a new Tag. This is just a gimmick trick from new startup.

Deal Cadet Deal Cadet
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Nice

Deal Newbie Deal Newbie
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Bachpan mein stickers collect Kia karte the....purane din yaad aa gaye

Deal Cadet Deal Cadet
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but this too costly at 499, i paid 33 not thinking not to pay more
Deal Newbie Deal Newbie
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I would get it if it's a NFC ring I can wear. 

they can offer it in Resin, steel, and Gold at 2000rs, 5000rs and 50000rs respectively

replyuser
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