Gautam Adani, the chairman of Adani Group, has entered the retail finance sector by launching a credit card in partnership with ICICI Bank.
This move positions Adani Group to compete with established players like Tata, Reliance, and Aditya Birla in the Indian market.
Features of the Adani Group Credit Card
The credit card, introduced through Adani Group’s digital platform Adani One in collaboration with ICICI Bank and Visa, offers airport-linked benefits to cardholders. Users can earn up to 7% reward points for spending within the Adani Group ecosystem.
This includes using the Adani One app for booking flights, hotels, trains, buses, and cabs, as well as spending at Adani-managed airports, CNG pumps, and on Adani electricity bills.
Industry Competition and Context
Gautam Adani’s entry into retail finance comes amidst Mukesh Ambani’s aggressive expansion in the financial services sector through Reliance Industries.
Notably, Ambani’s retail unit partnered with SBI to launch a co-branded credit card on the RuPay payment network.
Additionally, Aditya Birla Group has also introduced co-branded credit cards in collaboration with SBI and AU Small Finance Bank.
Recent Articles by Adani Group
Adani One Launches India’s First Co-branded Credit Cards with Airport Benefits: This marks Adani Group’s foray into the retail finance sector.
Gautam Adani Becomes Richest Person in Asia: Surpassing Mukesh Ambani, Adani’s net worth reaches $111 billion.
Expansion into E-commerce and Digital Payments: The Financial Times reports Adani Group’s expansion into e-commerce and digital payments in India, under the leadership of billionaire Gautam Adani.
