Neokey | Contactless Payment Device

Neokey is a wearable device developed by Neokred in collaboration with NPCI and Rupay On-the-Go.

Features of Neokey

• NFC-enabled keychain.

• In-built virtual wallet

• Lock and Unlock NFC

• Lock and Unlock eCommerce transactions.

Motive behind Neokey

Neokey aims to address the following issues in India’s payment industries.

• To make payment convenient and trendy.

• Making payments without using cash.

• Go without a bank account.

Challenges

• Fierce Competition

• Understanding End-users

• Developing UI

Solutions

• Competitors

• There are plenty of cashless payment competitors on the market, including UPI and NFC-enabled credit and debit cards. We wanted to build a product that was fancy and could be utilized in everyday life, as there were a lot of competitors in the market using the same concept of UPI and NFC cards.

2. Understanding the end-user

• Recognizing the end-user was not difficult because we wanted people of all ages. Nonetheless, it was difficult to make the daring decision to include all categories.

3. Developing the UI(User Interface)

• Developing it was a bit of a challenge. I wanted the design to be modern and clean because it’s a fashionable product. Also wanted to concentrate on the user experience. Because when you make a really modern design, the app’s UX may suffer as a result. Many people may feel uncomfortable with modern User Interface designs.

We chose Keychain as a payment accessory as it is cost-effective, convenient to carry, and can be used by people of any age range. That’s when we had the idea for “Neokey,” a keychain contactless payment accessory.’