Adani Group is in discussions to enter the e-commerce and payments space as the conglomerate develops a digital company to rival Google and Reliance Industries, owned by Mukesh Ambani, in the world’s most populous country, according to the Financial Times (FT), which cited sources.
The company is now considering seeking for a license to operate on the Unified Payments Interface (UPI), which is a widely used public digital payments network in India. It is also in negotiations with banks to finalise plans for a co-branded Adani credit card, said FT citing its sources.
As per the news report, it is also negotiating to provide online shopping via the Open Network for Digital Commerce, India’s rapidly expanding public e-commerce network supported by the government. The digital public infrastructure “stack” in India, which includes ONDC and UPI, is popular among organisations seeking to establish consumer technology firms and draws hundreds of millions of consumers each month.
Also read: Bomb Threat on Indigo Flight from Delhi to Varanasi
