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American Express appoints Barclaycard as card issuing partner in UK

Multinational financial services provider American Express has appointed Barclaycard as its card issuing partner in the UK, boosting their existing global relationships.

Further terms of the agreement have not been revealed, although both firms will start product development during 2013, while product description will be announced at a later stage.

At present, both companies have a number of business relationships across the globe, including in the US for card issuing, and the UK for acceptance of payments.

The UK card issuing agreement will enhance the alternatives available to Barclaycard customers and will lead to a wider range of products being offered to UK consumers, according to the company.

Barclaycard, part of Barclays Retail and Business Banking, helps consumers, retailers and businesses to make and accept payments flexibly, and to access short-term credit when needed.

In addition to the UK, Barclaycard trades in the US, Europe and Africa and serves nearly 23 million of consumers and manages 89,000 retailer/merchant relationships, according to a report data released in July 2012.

American Express, which has $153bn in total assets, employs 62,500 staff across the globe, and provides payment, travel and expense management systems for individuals and businesses of all sizes.