PayCraft partners with NSDL Payments Bank and NPCI to launch Corporate Transit Card
PayCraft, a Mumbai-based FinTech entity specializing in online and offline payments processing, has launched the One Nation Corporate Card in partnership with NSDL Payments Bank and the National Payments Corporation of India (NPCI). This innovative card, built on an indigenously developed multi-wallet platform with Transit Issuance and Processing Capability, serves as an Employee Tax Benefit instrument. It also comes with a corporate expense management platform for the employer to manage their expenses digitally.
The USP of the One Nation Corporate Card is its ability to function as a National Transit Card, enabling cardholders to travel throughout India on any public transport that accepts bank-issued cards. 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. This Card also offers a valuable solution for digitizing business expenses for corporates and SMEs across the country.
Benefits to Corporates and SMEs -This card is a one-stop end-to-end payment solution specially designed for corporates and SMEs to make their business travel, small value payments/disbursements, branch expenses etc. simpler and faster. It works seamlessly to make payments on any Merchant POS device, and E-commerce payments on any online website/portal/Mobile App. The Expense Management platform that comes with the Card helps them digitize and automate the entire Business Expense lifecycle.
Benefits to Employees – The One Nation Corporate Card is a multipurpose card and can be used as day-to-day Transit Travel Card (in Metro, Buses, and other modes of public transport wherever NCMC Card is accepted), Tax Benefit Card and Business Travel Card.
On the launch of this revolutionary product, Mr. Ambarish Parekh CEO of PayCraft says “The One Nation Corporate Card will be offered to the Indian Customers Pan India from June End. We aim to service a million Customers both Corporates and SME employees pan India within 24 months of our launch. This product amalgamates NCMC offline payments along with retail payments and brings ease of use and convenience of one instrument for all payments needed in the daily life of a user. Our expertise in handling both Offline and Retail Payments has played a key role in building this product.
NSDL Payments Bank Says:
We are proud to introduce the One Nation Corporate Card, designed to streamline travel experiences, in collaboration with Paycraft. This innovative card simplifies commuting via buses, trains, metros, etc., providing a unified solution. The versatile One Nation Corporate Card facilitates transactions seamlessly across four channels: ATM, POS, E-commerce websites, and Metro stations. Together, we are shaping the future of payments and forging a path towards a seamless and uniform travel experience for Indian society as a whole.
About PayCraft Solutions: PayCraft is a payments technology company, founded in 2013 with a vision to ease and enable Urban Mobility. With a proven track record of multiple successful open loop payment implementations on the National Common Mobility Card specifications across India for Offline/Contactless payments. PayCraft works extensively with the leading Banks including SBI, Axis, ICICI, HDFC, Shivalik Small Finance Bank, NSDL Payments Bank and Airtel Payments Bank for enabling its proprietary issuance and acquiring products to cater to Retail and NCMC enabled Open Loop Payment Systems in the Retail and Transit worlds. PayCraft has also marked its presence internationally with its solutions being deployed in the MENA region and other countries.
