Barclays and Brookfield Asset Management Ltd. have entered into a strategic partnership to transform Barclays' payment acceptance business. The announcement made on April 17, 2025, defines this new collaboration as a long-term initiative aimed at growth and transformation.
Barclays brings extensive client relationships and UK payment experience to the partnership, combining with Brookfield's global expertise in payments, technology, and operational transformation. The goal is to strategically position the business for long-term growth.
The business processes significant volumes of payments annually for various clients, from small businesses to international corporations. The partnership plans to enhance and broaden service offerings, thus supporting improved financial performance. Barclays plans to invest approximately £400 million in the business over the first three years.
As part of the agreement, Brookfield may acquire a 70% ownership interest in the business after the third year. Following the sale, Brookfield's initial financial incentive will convert into an additional 10% shareholding, bringing Brookfield's total share to approximately 80%.
Barclays expects to retain a 20% interest after the sale. The partnership will not materially impact Barclays' current financial targets, and the business will remain under the "Barclaycard Payments" brand for a minimum of ten years.
This transaction marks the first for Brookfield Financial Infrastructure Partners, focused on digital assets in financial infrastructure. Sir Ron Kalifa of Brookfield emphasized the need for a digital-first approach to payments. Matt Hammerstein of Barclays highlighted the partnership's alignment with Barclays' strategic goals.
The partnership aims to leverage both firms' strengths to create a leading market position in payment solutions, essential for the growth of the UK's digital economy.