FinTech: Barclays Mulling Sale Of Stake In Payments Unit To Strategic Partner

September 6, 2023 | FinTech, News, Takeovers and Buyouts
https://dailyalts.com/wp-content/uploads/2023/09/Barclaycard-payments-day-in-the-life-3_1.large_.medium_quality.jpg

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.

Related Story: JPMorgan Chase Hikes Stake In Brazilian Digital Bank C6 To 46%

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2023/09/termination-110302_640.jpg
Digital Assets: Epic Lays Off 830 Employees As Metaverse Underperforms
September 29, 2023     Digital Assets, News

Earlier today, Tim Sweeney, the head of Epic Games, shared an email with the company’s employees, announcing some significant changes within the organization. In this message, Sweeney discussed the necessity…

https://dailyalts.com/wp-content/uploads/2023/09/artificial-intelligence-7778032_640.jpg
Artificial Intelligence: Mysterious US-Based Books3 Dataset Used To Train AI Was A Massive Trove Of Pirated Books
September 29, 2023     Artificial Intelligence, Latest News, News

Thousands of books penned by some of Australia’s most esteemed authors may have fallen victim to what Booker prize-winning novelist Richard Flanagan has described as “the biggest act of copyright…

https://dailyalts.com/wp-content/uploads/2023/09/HK_CWB_銅鑼灣_Causeway_Bay_銅鑼灣時代廣場_Times_Square_office_Tower_One_阿里巴巴_Alibaba_Hong_Kong_June_2022_Px3_03.jpg
FinTech: Ant’s Chongqing Consumer Finance Arm Raising $616M To Ramp Up Loans
September 29, 2023     FinTech, News

Chongqing Consumer Finance, the consumer finance arm of Ant Group, a prominent player in China’s financial technology landscape, is currently in the process of raising a substantial sum of fresh…

https://dailyalts.com/wp-content/uploads/2023/09/71d1eee5e25ab8c_960x347.jpg
Venture Capital: Mercury’s Fund V Mops Up $160M For US Startups “Between The Coasts”
September 29, 2023     News, Venture Capital

Mercury Fund, the premier early-stage venture firm with a focus on non-coastal tech hubs, has successfully closed its largest fund to date, Mercury Fund V, with a total capital commitment…