Adani Group will get into credit card, UPI, and ONDC markets: The billionaire Gautam Adani intends to enter the public digital payment system in India. In the media reported recently, that the Adani Group is presumably in talks with banks to complete plans for a co-branded credit card.
Additionally, it hinted that the company is in talks to launch an online shopping portal via the Open Network for Digital Commerce (ONDC), a government-backed platform that promotes e-commerce, and is seeking to increase its digital footprint by joining India’s Unified Payments Interface (UPI) network. This action is a major step in the conglomerate’s strategy to diversify into the rapidly expanding consumer markets of e-commerce and digital payments.
These programs are a component of a larger plan to build a digital business that can compete with established players such as Google and Mukesh Ambani’s Reliance Industries, FT noted. The Adani Group plans to offer these new services through its consumer app, Adani One. This app launched in late 2022 and currently offers travel services, including flight and hotel bookings.
According to the report, the company’s e-commerce and payment offerings would initially target existing users of its businesses, including gas and electricity customers as well as travelers at its airports. Users would be able to acquire loyalty points through bill payments or duty-free purchases and use them for online shopping.