Adani, Visa sign deal to bring co-branded cards for travellers

economictimes.indiatimes.com:

Visa said it has signed a co-brand agreement with Indian billionaire Gautam Adani's conglomerate. The co-branded cards are set to attract as many as 40 crore travellers and users via the benefits of retail, airports, and online travel services that it aims to bring to the table. «This partnership will give the payments giant access to 400 million customers through Adani’s airports and online travel services,» said Visa's CEO Ryan McInerney in a conference call with analysts.Adani group at present runs seven airports in India.

All the seven Adani airports saw an increase of 92 per cent in domestic and 133 per cent in international travellers. Adani Airports, part of billionaire Gautam Adani's conglomerate, will bid for more airports across India in its ambition to become the leading airport operator. Major airport developments that are in place by Adani Group includes 2,866-acre airport in Navi Mumbai that will handle 90 million passengers by 2036.

Sponsored by both the parties, co-branded cards enable customers to make purchase transactions and enjoy benefits from the entities as part of their respective services. Primarily, what attracts cardholders towards co-branded cards are the exclusive rewards, discounts and other benefits with associated brand. At present several travel co-branded cards exist in India, to name a few: the ICICI-Make My Trip card, SBI and Yatra have come up with one, and Axis Bank Vistara credit card, among others.