Adani Group to Launch ONDC, UPI and Credit Cards: Report

Billionaire Gautam Adani is set to foray into India’s public digital payments network, as a recent Financial Times report shows that the Adani Group is likely to be in talks with banks to finalize plans for a co-branded credit card.

It has also been suggested that the conglomerate is looking to expand its digital reach by entering India’s Unified Payments Interface (UPI) network and is in negotiations to offer online shopping through the Open Network for Digital Commerce (ONDC), a government-backed platform designed to facilitate trade electronic.

The move represents a significant step in the conglomerate’s efforts to diversify its business into the rapidly growing consumer digital payments and e-commerce markets.

These initiatives are part of a broader strategy to build a digital business that can compete with established players such as Google and Mukesh Ambani’s Reliance Industries, the FT noted.

The Adani Group plans to offer these new services through its Adani One consumer app. 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 payments offering will initially target existing users of its business, including gas and electricity customers, as well as travelers at the company’s airports. Users will be able to earn loyalty points through bill payments or duty-free shopping and use them for online purchases.