 "digital payments")
NSDL Payments Bank said the One Nation Corporate Card facilitates transactions seamlessly across four channels — ATM, POS, e-commerce websites, and metro stations
PayCraft, a fintech entity in online and offline payments processing, on Tuesday said it launched One Nation Corporate Card in partnership with NSDL Payments Bank and National Payments Corporation of India (NPCI).
The Mumbai-based company said the card, built on an indigenously developed multi-wallet platform with transit issuance and processing capability, serves as a tax benefit instrument for corporate employees.
The card also comes with a corporate expense management platform for the employer to manage their expenses digitally.
“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,” said Ambarish Parekh, CEO of PayCraft.
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 digitising 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 works with several banks, including SBI, Axis Bank, ICICI Bank, HDFC Bank, Shivalik Small Finance Bank, NSDL Payments Bank and Airtel Payments Bank.
The company has also marked its presence internationally with its solutions being deployed in the MENA (Middle East and Northern Africa) region and other countries.
First Published: Dec 19 2023 | 1:53 PM IST
PayCraft, a fintech company specializing in online and offline payments 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 card, developed on an indigenous multi-wallet platform with transit issuance and processing capabilities, serves as a tax benefit instrument for corporate employees. It also includes a corporate expense management platform for employers to digitally manage expenses. The card is built on National Common Mobility Card (NCMC) specifications, aligning with the Indian government’s vision of One Nation One Card. The card facilitates seamless transactions across ATM, POS, e-commerce websites, and metro stations. PayCraft aims to serve a million customers, both corporates and SME employees, throughout India within 24 months of its launch. PayCraft has partnerships with various banks, including SBI, Axis Bank, ICICI Bank, HDFC Bank, Shivalik Small Finance Bank, NSDL Payments Bank, and Airtel Payments Bank. The company has also expanded its presence internationally, with its solutions being deployed in the MENA region and other countries.
In the current context, PayCraft’s partnership with NSDL Payments Bank and NPCI to launch the One Nation Corporate Card highlights the company’s focus on providing innovative payment solutions for businesses and individuals in India. The card’s features, such as tax benefits and expense management capabilities, address the evolving needs of corporate employees and employers. By leveraging the NCMC specifications, the card aligns with the government’s goal of streamlining payment systems across various channels. The collaboration between PayCraft, NSDL Payments Bank, and NPCI demonstrates the growing importance of digital payments and financial technology in India’s business landscape.
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