No. Trying to update will redirect to Play Store, which will say “Incompatible”. You must remain on the old APK version forever.
The official Nequi app on Google Play Store requires (API level 21) due to: Nequi Apk Android 4.4 2
Based on user reports from 2023-2025, the last stable Nequi version for Android 4.4.2 is: Nequi Apk Android 4.4 2
Are you trying to for the first time or just log in ? Your version of Android doesn't support tap & pay with NFC Nequi Apk Android 4.4 2