Trends
Adani group plans entry into digital payments and e-commerce
These moves come as Adani plans to invest $84 billion in infrastructure over the next decade, following efforts to recover from allegations of stock manipulation.
Headline
These moves come as Adani plans to invest $84 billion in infrastructure over the next decade, following efforts to recover from allegations of stock manipulation.
Context
India’s Adani Group is making significant strides into the consumer business sector with plans to enter the digital payments and e-commerce markets. The conglomerate, led by billionaire Gautam Adani, is considering applying for a license to operate on India’s public digital payments network and is in talks with banks to launch a co-branded credit card. These initiatives come as part of a broader strategy to invest $84 billion in infrastructure over the next decade, signaling Adani’s ambitious growth plans amid efforts to recover from recent financial controversies. India’s Adani Group is considering applying for a license to operate on the country’s public digital payments network. If approved, the group will enter the fast-growing digital payments market, competing with established players such as Google Pay and Walmart-backed PhonePe. The market is projected to grow from $357.51 billion in 2024 to $814.43 billion in 2029.
Evidence
Pending intelligence enrichment.
Analysis
Also read: China’s EV industry faces supplier payment crisis Also read: Cred fintech in India: Redefining credit card payments Adani Group is in discussions with banks to finalize plans for a co-branded credit card. This move is part of a broader strategy to expand its consumer business offerings. The group is also negotiating to offer online shopping through India’s government-backed public e-commerce platform, Open Network for Digital Commerce (ONDC). If finalized, these services will be available via Adani’s consumer app, Adani One, which was launched in December 2022.
Key Points
- Adani Group considers applying for a license to operate on India’s digital payments network, potentially competing with Google Pay and PhonePe .
- The conglomerate is also in talks to launch a co-branded credit card and offer online shopping via the public e-commerce platform ONDC .
- These moves come as Adani plans to invest $84 billion in infrastructure over the next decade, following efforts to recover from allegations of stock manipulation.
Actions
Pending intelligence enrichment.
