PayCraft partners NSDL Payments Bank, NPCI to launch corporate transit card

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.