Barclays has signed a new, multi-year partnership with long-standing partner Visa.

The European agreement is designed to drive innovation and product development, as well as facilitate international expansion at Barclays. At the same time, it will assist Visa to develop product innovations and deploy them at scale across the Barclays Payments network.

Ashok Vaswani, global head of consumer banking and payments at Barclays, said: “This is a landmark partnership for Barclays which will ultimately benefit merchants and consumers – our continuing partnership will enable us to jointly invest in developing faster and smoother payments to benefit merchants and consumers.”

Charlotte Hogg, chief executive for Europe at Visa, said: “Barclays has been one of Visa’s most important partners in Europe for many years and this new partnership will see us extending our partnership again, enabling Barclays to invest in new and innovative digital capabilities.”

Barclays was the first business to launch a credit card with Visa in the UK in 1966. The companies have since partnered on other innovations, including the launch of contactless payments and wearables in the UK and the roll out of ‘touch and go’ payments across the Transport for London network.

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