Indian conglomerate Adani is allegedly enter into discussions the e-commerce and payment area.

The company is considering applying for a License to participate in India’s Unified payment interface (UPI) network, the Financial Times (FT) reported on Tuesday (May 28), citing unnamed sources.

Adani is also in talks with banks to finalise plans for a co-branded credit card and is negotiating the possibility of online shopping through India’s government-backed e-commerce platform, the Open network for digital commerceaccording to the report.

“There are only three corporate conglomerates that rule this country – the Tatas, the Ambanis and the Adanis,” Jayanth Kolla, a Bengaluru-based technology analyst, said in the report. “Adani is one of the three groups that does not have any significant consumer-facing businesses.”

The new services would be offered through Adani Onethe company's consumer app, which launched in late 2022 and already offers travel services such as flight and hotel reservationssays the report.

Adani did not respond to PYMNTS' request for comment.

The measures would enable the company to Google and India Reliance IndustriesGoogle announced last month that it Invest In FlipkartA WalmartIndia-backed digital commerce company. Weeks earlier, the technology giant opened its digital wallet to users in India.

These companies are vying for the attention of consumers in a country that is in a “Digital payments journey” of the last 15 years, as PYMNTS wrote in late 2023.

PYMNTS Intelligence found that digital wallets are now the preferred payment method for 55% of retail trade Shopping in India, with 80% of wallet users opting for UPI.

India is now expanding its Real-time payments Functionality by establishing the interoperability of digital payment systems for Internet banking. The launch It is expected later this year, and the goal is to enable faster payment processing for merchants.

“Currently, internet transactions processed through payment aggregators (PAs) are not interoperable because banks must integrate with each PA separately for different online trading partners,” PYMNTS wrote in April. “This requirement has proven difficult for bank staff to manage, especially given the large number of trading partners each bank has.”

In addition, the lack of standardized payment systems and rules for individual PAs has led to payment delays and greater security risks – problems that the interoperability initiative aims to solve.