Barclays and Visa expanded their partnership to cover issuing and acquiring across retail, corporate, business, U.S., and private banking segments. The agreement includes support for Barclays’ issued card credentials in the UK, growth of U.S. retail issuing, and expansion of commercial issuing into new markets.
The expansion builds on Barclays’ first credit card in 1966 and introduces co‑investment in emerging payment technologies such as account‑to‑account (A2A) payments and agentic commerce. Barclays aims to capture the projected £190 billion A2A market by 2025 and leverage Visa Intelligent Commerce APIs to enable automated, token‑based transactions.
Barclays’ Q3 2025 earnings showed net income falling 12% year‑over‑year to £1.2 billion, driven by higher operating expenses and credit impairment charges, while revenue rose 4% to £4.8 billion. Management projects the partnership will add £200 million in incremental revenue over the next 12 months and reduce transaction processing costs by 5% through shared infrastructure.
Segment impact is expected to be strongest in retail and U.S. corporate, with a 15% increase in transaction volume, while private banking will benefit from enhanced tokenization services. The partnership also addresses headwinds such as rising card fees and competitive pressure from fintechs.
Barclays CEO Vim Maru said the collaboration will position the bank to deliver faster, safer, and more convenient payment experiences and support its strategic plan to drive higher returns and operational efficiencies.
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