Adani Ventures into Credit Cards with ICICI Bank Partnership
Adani group head Gautam Adani, in a new partnership with ICICI Bank, has launched the Adani group’s first credit card for retail customers. Standing shoulder to shoulder with behemoths like Tata, Reliance and Aditya Birla groups, this partnership is clearly associated with the launch of a card with airport-associated facilities via Visa.
Thus, cardholders get a chance to earn up to 7% rewards on the purchases made across the Adani Group spectrum of services that are accessible on the App. The services include flights, hotels, trains, buses and cabs available on the App through Adani One service. Moreover, purchase at airports operated by Adani Group, at CNG pumps, and on Adani electricity is also given a boost this way.
Gautam Adani’s M&A move is thus timed rightly, especially at a time when Reliance Industries has been quite aggressive in the financial services sector, as evident by their partnership for a co-branded credit card on the RuPay network. Likewise, Aditya Birla Group has diversified in co-branding credit cards with SBI and AU Small Finance Bank.
