PayCraft, a FinTech company based in Mumbai that specialises in online and offline payment processing, has introduced the One Nation Corporate Card in collaboration with NSDL Payments Bank and the National Payments Corporation of India (NPCI). This revolutionary card acts as an Employee Tax Benefit instrument and is built on an indigenously created multi-wallet platform with Transit Issuance and Processing Capability. It also includes a corporate expenditure management tool, allowing the company to control expenses online.
The One Nation Corporate Card’s unique selling point is its capacity to operate as a National Transit Card, allowing cardholders to travel throughout India on any public transportation that accepts bank-issued cards. These cards, based on National Common Mobility Card (NCMC) specifications and with Offline functionality, would help the Government of India realise its goal of One Nation, One Card. This Card also provides a valuable alternative for corporates and SMEs around the country to digitise business expenses.
This card is a one-stop end-to-end payment solution created specifically for corporates and SMEs to enable business travel, small value payments/disbursements, branch expenses, and other transactions easier and faster. It seamlessly accepts payments from any Merchant POS device as well as E-commerce payments from any online website/portal/Mobile App. The Card’s Expense Management technology assists them in digitising and automating the complete Business Expense lifecycle.
The One Nation Corporate Card is a multifunctional card that may be used as a transit travel card (in Metro, buses and other modes of public transportation where the NCMC Card is accepted), a tax benefit card and a business travel card.
On the launch of this revolutionary product, Ambarish Parekh, CEO, 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 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.”
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
