According to A Reuters Exclusive, Barclays is looking for a strategic partner to grow the business.

Barclays Plc (LON: BARC) is considering selling a stake in its UK payments processing unit, aiming to find a strategic partner to help expand the business and potentially raise capital. The size of the stake to be sold is yet to be determined. This business segment could be valued at around £2 billion ($2.5 billion) based on estimated earnings.

These discussions are part of a broader review of Barclays’ global payment activities, covering merchant acquiring and credit card services. Barclays had shared information about its domestic merchant acquiring unit with potential bidders, primarily specialized payments providers, during the summer. (Reuters)

According to Bloomberg, the UK banking giant is also considering the sale in an effort to boost its share price.

However, plans could still change. Barclays’ CEO, CS Venkatakrishnan, initiated this review as the bank considers how best to allocate capital across its divisions.

It’s part of an industry trend where European banks are exploring ways to monetize their payment operations.

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