NeoZAP is a NFC payment tag that lets users make payments without PIN

NeoFinity, the fintech and payment arm of the Neo Group recently announced NeoZAP, a digital payment tag that lets users make payments offline without having to entering their UPI PIN. The NFC sticker can be easily attached to the back of the phone and offers users a way for users to make both offline and online.

The company says NeoZAP is significantly faster than UPI or debit and credit cards as it eliminates the hassle of unlocking your phone, opening the payment app and entering your PIN. It can also be used to pay for metro and bus fares and at petrol pumps. Designed for Gen Z and millennials, NeoZAP can be used to make payments up to Rs 2,000 without requiring a PIN, similar to UPI Lite.