Adani Group to Venture into India’s Credit Card and Digital Payments Arena

Sources close to the Adani Group have confirmed that the Indian giant is planning to enter India’s digital and e-commerce payments sector. This move, which has been speculated about for a long time, is confirmed by people familiar with the matter.

The Adani Group is seeking a license to operate on the indigenous Unified Payments Interface (UPI) and is preparing to introduce its long-rumored co-branded credit card range.

It is negotiating to offer online shopping through India’s fast-growing, government-backed public e-commerce platform, the Open Network for Digital Commerce. Of all the industrial and tech giants in India, whether the Tatas or Ambanis, Adani is the only one without any consumer-facing services.

With a swift move, Adani Group is set to enter the digital and credit card market and compete with Google Pay, Phone Pe, Tata Neu, etc. It is quite possible that these services shall be offered on the Adani One platform which was launched in late 2022. 

Bottom Line

The Adani Group has a large customer base. With its launch in India’s digital payment and credit card landscape, it aims to bring all its customers onto one platform. It’s unclear what kind of credit card the Adani Group will offer – whether it will be on RuPay, Visa, or Mastercard.

However, Adani Group has partnered with ICICI Bank to launch its co-branded credit card range. It’s also uncertain what kind of loyalty point program it will feature on its platform, if any. But Adani customers shall greatly benefit from its new digital products as they can take advantage of discounts and offers across Adani Airports, Lounges, and more. What is known is that there are definite plans to disrupt the payment landscape in our country, competing with giants like Reliance and Google.

Following the company’s recovery from the Hindenburg allegations, which included accusations of market manipulation and fraud, positive developments have started unfolding.