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  • Khushboo Pareek

Adani Group to enter digital payment, e-commerce sector

The Ahmedabad headquartered Indian multinational conglomerate Adani Group is planning to enter the digital payments and e-commerce sectors, throwing a challenge to such giants as Reliance, Amazon, Walmart's Flipkart and PhonePe.

According to a report by Financial Times, Adani is considering applying for a licence to operate on India's Unified Payments Interface (UPI), a leading digital payments network.

The group is finalising plans to introduce a co-branded credit card in partnership with banks. The payment services will be available through the Adani One app.

This isn’t Adani Group’s first foray into digital services. In 2022, the conglomerate launched Adani One, a consumer app for selling travel tickets.

CEO Gautam Adani recently hinted at potential collaborations with Uber following a visit to India by Uber CEO Dara Khosrowshahi.

Adani Group also plans to offer online shopping via the government-backed Open Network for Digital Commerce (ONDC) platform, according to a source cited by TechCrunch.

India's retail market, projected to be worth $1.27 trillion by next year, is a major battleground.

Reliance Retail, the largest retail chain in the country, was valued at approximately $100 billion last year after a significant capital raise.

In the e-commerce sector, Walmart-owned Flipkart, is the leading player, expected to account for 10.4 per cent of overall retail sales in India by next year, according to Bernstein analysts.

Meanwhile, Amazon plans to invest about $3 billion into its Indian e-commerce operations over the coming years.

In the mobile payments market, Walmart’s PhonePe and Google Pay dominate, processing over 86 per cent of all transactions on the UPI network, which handles more than 12 billion transactions monthly.

Gautam Adani. Image Source: Wikipedia


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