MUMBAI: Gautam Adani the Adani Group chairman has introduced a credit card in alliance with ICICI Bank, marking his foray into retail finance. Competitors like Tata, Reliance, and Aditya Birla groups will be taken on with the partnership in a crowded Indian market.

The billionaire, through his group’s digital platform Adani One, and ICICI Bank has launched a credit card with airport-linked benefits in collaboration with Visa. Cardholders will get up to 7% reward points on spending within the Adani Group ecosystem. These include the Adani One app which can be used for booking flights, hotels, trains, buses, and cabs. Spending on Adani-managed airports, Adani CNG pumps, and Adani electricity bills are also covered.

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This initiative comes at a time when Mukesh Ambani’s Reliance Industries has aggressive plans in the financial services sector. Last year, Ambani’s retail unit and SBI launched a co-branded credit card on the RuPay payment network. Aditya Birla Group, too, has co-branded credit cards with SBI and AU Small Finance Bank.

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