PayCraft Teams with NSDL Bank and NPCI for Corporate Transit Card Launch
PayCraft, a fintech company specializing in online and offline payment processing, has announced the launch of the One Nation Corporate Card in collaboration with NSDL Payments Bank and the National Payments Corporation of India (NPCI). The Mumbai-headquartered firm stated that the card, constructed on a domestically created multi-wallet platform featuring transit issuance and processing capabilities, functions as a tax-advantageous tool for corporate employees.
Additionally, the card includes a corporate expense management platform, allowing employers to digitally oversee their expenses. Ambarish Parekh, CEO of PayCraft, stated, "The One Nation Corporate Card will be available to customers across India by the end of June. Our goal is to cater to one million customers, including both corporate and SME employees, nationwide within 24 months of our launch."
Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards will advance the Government of India's vision of One Nation One Card, the company said. It also offers a solution for digitizing business expenses for corporates and SMEs across the country. NSDL Payments Bank said the One Nation Corporate Card facilitates transactions seamlessly across four channels -- ATM, POS, e-commerce websites, and metro stations.
PayCraft collaborates with a range of banks, such as SBI, Axis Bank, ICICI Bank, HDFC Bank, Shivalik Small Finance Bank, NSDL Payments Bank, and Airtel Payments Bank. Furthermore, the company has expanded its footprint globally, with its solutions being implemented in the MENA (Middle East and Northern Africa) region as well as other countries.
