PayCraft, NSDL Payments Bank & NPCI launch ‘One Nation Corporate Card’

By Gloria Mathias

PayCraft, an India-based FinTech entity specialising in online and offline payment processing, has launched the One Nation Corporate Card in partnership with NSDL Payments Bank and the National Payments Corporation of India (NPCI).

This 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 digitising business expenses for corporates and SMEs across the country.

Ambarish Parekh, CEO of PayCraft said, “The One Nation Corporate Card will be offered to Indian customers in 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 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.

A spokesperson for NSDL Payments Bank shared, “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, eCommerce 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.”