According to a recent report, the Adani Group, led by Gautam Adani, is set to enter the UPI, digital payment, and credit card sectors. These new services will be integrated into their consumer app, Adani One, which was launched in 2022. Once these initiatives are finalized, the conglomerate will introduce them through this platform. This move is part of the Adani Group’s broader strategy to diversify into the rapidly expanding e-commerce and digital payments markets.
The Financial Times, citing informed sources, reported that the Adani Group is developing a digital business aimed at competing with tech giants like Google and Reliance Industries, led by Mukesh Ambani. To facilitate this, the company is considering applying for a license to operate on India’s Unified Payments Interface (UPI). Additionally, the Adani Group plans to finalize a co-branded credit card, which was previously announced.
Furthermore, the Adani Group is in talks to offer online shopping through the government-backed Open Network for Digital Commerce (ONDC). This approach allows the company to provide e-commerce services without the need to invest in its own proprietary payment or e-commerce platforms. By leveraging the ONDC, the Adani Group can enter the market more efficiently and cost-effectively.
The report also highlighted that the Adani Group will initially target existing customers of its various businesses, including those using its gas and electricity services, as well as travelers at its airports. Users will be able to earn loyalty points through bill payments, which can then be redeemed for online shopping. This strategy aims to create a seamless and integrated digital ecosystem that enhances customer loyalty and engagement.
In summary, the Adani Group’s planned foray into the digital payments and e-commerce sectors signifies its commitment to diversifying its business portfolio and tapping into the growing digital economy. By utilizing its existing customer base and leveraging government-backed platforms like the ONDC, the Adani Group aims to establish a strong presence in these competitive markets.
