(Reuters) -General Motors ( GM ) and Barclays ( JJCTF ) said on Monday they have signed a long-term credit card partnership agreement to let customers earn and redeem reward points on new Buicks, Cadillacs and other GM cars, including electric vehicles.

As part of the partnership, Barclays ( JJCTF ) will acquire the card program's receivables from the current issuer next year.

Reuters had reported last month that Goldman Sachs was nearing a deal to transfer its GM credit card business to Barclays ( JJCTF ).

The GM credit card program will continue to be issued exclusively under the Mastercard brand.

Barclays ( JJCTF ) will be the exclusive issuer of the GM Rewards Mastercard and the GM Business Mastercard in the United States starting next summer.