Paycraft has fast emerged as a leading fintech which provides cutting edge solutions in payment processing and end to end payments solutions.
PayCraft has built domain expertise and deep insights to handle both Offline and Online Payments on a single instrument. With its Form Factor Agonistic Issuance and acquiring platforms Paycraft services wide varieties of New age fintech’s and traditional payment ecosystems very seamlessly.
PayCraft works closely with leading banks like SBI, ICICI, AXIS, HDFC to enable digitalization of small ticket payments in the Transit sector in India. It also works with corporates to digitize and manage efficiently the travel and Business expenses of the corporate employees.
Paycraft currently manages approximately 70 million cards on its card issuance and management platforms for both prepaid and debit cards. PayCraft platforms have managed over 100 million EMV offline transactions in a very short span of time. All PayCraft platform are propriety and build in house Built in-house by a strong technology and development team. The Issuance, Acquiring, Automatic Fare Collection Systems and digital QR platforms which powers the digitalization of transit ticketing payments are capable of handling both Offline and Online Transactions & Manage fungible balances seamlessly. PayCraft works closely with International Card associations including Master Card, VISA, Rupay and Mercury for developing and running unique payments use cases.
Speaking on the expansion, Mr Ravi Jain, Co-founder of PayCraft said, “PayCraft is one of the pioneers in digitising small ticket payments in transit sector in India. The expertise gained over the years while servicing leading banks in India helps us to develop customised solutions which solves various pain points for clients across the globe.
PayCraft is working closely with various fintech’s/payment service providers in UAE to power unique payment solutions in the region. PayCraft provides its prepaid card issuance solution and corporate payments suite with its business expense management platform to users in the Gulf Region. PayCraft is actively looking to expand its existing footprint in the Gulf Region by partnering with various issuers to provide cutting edge solutions to help users with small ticket size payments both online and offline for bus and metro services along with retail payments.
PayCraft has developed customized solutions in accordance with the guidelines set by the Central Bank of UAE and to Ministry of Labor, to revolutionize the process of Digitizing Payroll Card processing systems in UAE with the Introduction of WPS payroll card. The WPS is an electronic salary transfer system that enables organizations in the private sector to pay employee’s wages through contracted Banks, Exchange Houses or any other financial institution approved and authorized by the Central Bank of UAE.
PayCraft is working closely with fintech’s and large conglomerates in Africa to build the Africa Payments stack. This will provide seamless payments to millions of un-banked and underbanked masses with easy to use, intuitive payment solutions. The objective of providing these solutions to various players in Africa is to help them enable seamless digital payments for many first-time users and the under-banked.
Paycraft is creating seamless payments solutions focussing on the pain points of logistics operators and supply chain companies by providing an all-in-one card solution for truck drivers in the African Market.
PayCraft has been achieving consistent growth in number of transactions and gross transaction value handled by their payment platforms. The international expansions would further scale up these numbers multifoliate aims to handle USD 10 billion GTV of payment transactions.