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General Motors, Barclays Partner on Co-Branded Mastercards

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General Motors, Barclays Partner on Co-Branded Mastercards

Oct 17, 2024 2:35 PM

07:33 AM EDT, 10/14/2024 (MT Newswires) -- General Motors Company ( GM ) and Barclays' ( JJCTF ) US consumer bank said Monday they have entered into a long-term agreement under which Barclays ( JJCTF ) will exclusively issue GM-branded rewards and business Mastercard ( MA ) charge cards.

Financial terms of the arrangement were not disclosed.

The partnership is set to begin next summer. As part of the deal, Barclays ( JJCTF ) will acquire the GM card program's receivables from the current issuer.

A statement said the deal will "further scale Barclays' ( JJCTF ) credit card portfolio" in the US.

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