Visa, the known digital payments company has entered into a partnership, with Indias Adani Group, which is led by the billionaire Gautam Adani. This collaboration aims to introduce branded cards that will bring various advantages to a whopping 400 million travelers. By leveraging Adani’s seven airports and online travel services Visa will be able to offer benefits and expand its reach across a customer base. It’s a move that highlights their commitment to establishing a presence, in India’s highly profitable market.
Visa, the prominent American digital payments giant, has entered into a co-brand agreement with the esteemed Indian conglomerate owned by billionaire Gautam Adani. This collaboration aims to offer co-branded cards that will attract up to 40 crore travelers and users. The cards will provide exclusive benefits in retail, airports, and online travel services.
Visa‘s CEO, Ryan McInerney, shared during a conference call with analysts that this partnership will grant the payments giant access to a staggering 400 million customers through Adani’s airports and online travel services. Adani Group currently operates seven airports in India, which have experienced a remarkable increase of 92% in domestic travelers and 133% in international travelers.
Furthermore, Adani Airports, a part of Gautam Adani’s conglomerate, has ambitious plans to bid for more airports across India, with the aim of becoming a leading airport operator. Among the significant airport developments in progress by the Adani Group is a sprawling 2,866-acre airport in Navi Mumbai, projected to handle 90 million passengers by 2036.
The co-branded cards, sponsored by both Visa and Adani Group, offer customers the opportunity to make purchase transactions and enjoy benefits from both entities as part of their respective services. These cards are especially enticing to cardholders due to the exclusive rewards, discounts, and other associated brand benefits they provide.
Currently, India already boasts several travel co-branded cards, including the ICICI-Make My Trip card, SBI and Yatra’s offerings, and the Axis Bank Vistara credit card, among others.
While there are approximately 83 million credit cards in India, the number of unique users is estimated to be around 40 million, with many individuals holding more than one credit card to maximize savings. For banks and co-branded card providers, the objective is to attract new customers through their exclusive services.
Apart from the collaboration with Adani Group, Visa has also signed credit-card deals with America’s Breeze Aviation Group and Allegiant Travel Co, as it continues to cater to travelers and expand its services in the digital payments space.
