Case Study: Neokey

Madhav Sajikumar

2 min readJan 24, 2022

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.’