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Adani Group chairman Gautam Adani has entered the retail finance sector by introducing a credit card in collaboration with ICICI Bank. This move puts Adani Group in direct competition with other major players in the Indian market such as Tata, Reliance, and Aditya Birla groups.
The credit card, launched through Adani Group’s digital platform called Adani One, offers airport-linked benefits in partnership with Visa. Cardholders will earn up to 7% reward points on purchases made within the Adani Group ecosystem. This ecosystem includes the Adani One app, which can be used for booking flights, hotels, trains, buses, and cabs. Additionally, spending at Adani-managed airports, Adani CNG pumps, and Adani electricity bills is also eligible for rewards.
Gautam Adani’s entry into the retail finance sector coincides with Reliance Industries, led by Mukesh Ambani, making aggressive moves in the financial services industry. Last year, Ambani’s retail unit and SBI launched a co-branded credit card on the RuPay payment network. Aditya Birla Group has also partnered with SBI and AU Small Finance Bank to offer co-branded credit cards.
