Friday, May 14, 2021

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Barclays: Sees £900m growth opportunity in payments

  • Barclays a British universal bank diversified by business, by different types of customers and clients, and by geography
  • Barclays identified payments as a key growth opportunity worth £900 million over three years thank areas such as merchant acquiring and the BNPL market
  • CEO Jes Staley revealed that payment now accounts for eight percent of Barclays’ total income – £1.7 billion last year
  • Staley says this number grows by around £900 million over the next three years
  • In November last year the bank moved into the buy now, pay later sector through a partnership with Amazon in Germany
  • Barclays the only major bank-owned acquirer in the UK and has managed to slash on-boarding times in the last couple of years

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