Adani Group to foray into payments services; ties up with ICICI Bank

The co-branded credit card could be used to avail several retail services offered by the group, like payment for airport lounges, electricity and gas services.
The company is also likely to consolidate its digital services through its super app, Adani One, which was launched in 2022.
The company is also likely to consolidate its digital services through its super app, Adani One, which was launched in 2022.

NEW DELHI: Adani Group would soon enter into payment services as it is likely to collaborate with ICICI Bank for a co-branded credit card, financial industry sources told TNIE.

The co-branded credit card could be used to avail several retail services offered by the group, like payment for airport lounges, electricity and gas services. The launch is scheduled for the first week of next month.

The company is also likely to consolidate its digital services through its super app, Adani One, which was launched in 2022.

Sources in the industry said that the super app launched by Adanis has not made much headway, and the latest efforts by the company are to revive its super app.

Meanwhile, a Financial Times report on Tuesday said that the Adani One app, part of its consumer-facing businesses, is reportedly in talks to expand into e-commerce as well.

The Adani Group, which is primarily in the infrastructure and energy business, has a limited presence in the consumer space. Industry sources said that the company might use its tie-up with ICICI Bank to enter both e-commerce as well as payment services businesses.

Meanwhile, in an exchange filing, Adani Enterprises on Tuesday said its board has approved fundraising of R16,600 crore through the qualified institutional placement (QIP) route or other permissible mode in one or more tranches.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com