On April 17, 2025, Barclays and Brookfield Asset Management announced a strategic partnership to transform Barclays’ payment acceptance business into a standalone entity. Barclays will invest approximately £400 million (around C$690 million) over the first three years to support growth and service enhancements. Brookfield, through its Financial Infrastructure strategy, will contribute operational transformation and payments expertise. As part of the arrangement, Brookfield will receive a performance-based financial incentive that may convert into a 10% equity stake in the business. Between the third and seventh year of the partnership, Brookfield will have the option to acquire up to 70% of the business at market value, contingent on Barclays fully recovering its investment. If exercised, Brookfield’s total stake could reach 80%, while Barclays would retain a 20% interest. The business will continue operating under the "Barclaycard Payments" brand and will remain Barclays’ exclusive provider of payment acceptance services for at least ten years. This marks the first transaction for Brookfield Financial Infrastructure Partners, a strategy focused on digital assets that underpin the movement of money and financial systems.

Brookfield was advised by A&O Shearman, with a team led by Neil Sinha alongside partners Dominic Morris, Hugh Robinson, and Chris Sabine. Barclays was represented by Addleshaw Goddard, with partners William James, Hugh Lauritsen, and Oliver Broomfield.