Adani Group to enter UPI, digital payment, credit card business : Report

AHMEDABAD : Adani Group will begin services on their consumer app Adani One- launched in 2022- when these developments are finalised, the report claimed.

Gautam Adani-led Adani Group may enter E-commerce and payments segments as the conglomerate plans to diversify into the fast-growing market, it was reported. Adani Group is planning to work on a digital business to compete with Google and Mukesh Ambani-helmed Reliance Industries, Financial Times reported citing people in the know. It may also apply for a licence to operate on India’s public digital payments network, Unified Payments Interface (UPI) and finalise a previously-announced co-branded credit card as well.

The company is negotiating to offer online shopping through government-backed Open Network for Digital Commerce (ONDC) as well using which it will not have to invest in its own proprietary payments or e-commerce platforms.

Through this, the company will initially target existing users of its businesses including gas and electricity customers as well as travellers at its airports as users will be able to acquire loyalty points through bill payments and then use them for online shopping, the report added.