India-based fintech company PayCraft has partnered with NSDL Payments Bank and NPCI to launch a transit card called One Nation Corporate Card. The card is a tax benefit tool for corporate employees and has a corporate expense management platform for the employer to manage their expenses digitally.

Moreover, through this collaboration, PayCraft intends to reach one million customers in India within 24 months. One Nation Corporate Card capabilities The card is built on the National Common Mobility Card (NCMC) specifications, which allow for seamless transactions across multiple channels. It also facilitates digitising business expenses for corporates and SMEs across the country.

The One Nation Corporate Card will be available to customers across India from the end of June. PayCraft, stated that the One Nation Corporate Card is built on an indigenously developed multi-wallet platform with transit issuance and processing capability. Moreover, this card is expected to advance the Government of India's vision of One Nation One Card concept.

PayCraft works with several banks including SBI, Axis Bank, ICICI Bank, HDFC Bank, and Shivalik Small Finance Bank. The company also has an international presence in the MENA region and other countries. NSDL Payments Bank said the One Nation Card facilitates transactions seamlessly across four channels, including ATM, POS, ecommerce websites, and metro stations. PayCraft's offline-enabled Prepaid Card Issuance Host is supported by its proprietary Expense Management System, featuring web portals and dashboards for SMEs and corporations, and customer-facing apps for their employees. More about the National Common Mobility Card and One Nation Corporate Card in India  National Common Mobility Card are contactless cards that can be used for multiple purposes, but their primary function is to provide offline payment solutions for multi-modal transit.  Customers can use their existing debit/credit cards for payments across all segments, including metro, bus, suburban railways, toll, parking, smart city, and retail.

The card's stored value supports offline transactions for all travel needs with minimal financial risk for stakeholders. Additionally, the service area feature of this card supports operator-specific applications such as monthly passes, season tickets, and more. On a related note, One Nation Corporate Card is capable of processing transactions for metros in addition to regular POS, ECOM, or ATM transactions. With a single card, corporate expenses, ATM withdrawals, ECOM and POS transactions, as well as metro work (transit/offline), can all be conveniently managed.

PayCraft is currently the only provider able to offer this service due to its presence in the urban mobility sector and its relationships with public transport operators. .