General Motors and Barclays Sign Long-Term Credit Card Partnership Agreement
General Motors (NYSE: GM) and Barclays US Consumer Bank have entered into a long-term partnership agreement for Barclays to become the exclusive issuer of the GM Rewards Mastercard and GM Business Mastercard in the United States starting next summer. The partnership aims to enhance loyalty and engagement with millions of GM customers.
Key points:
- GM has the largest customer base of any automaker in the US
- The GM credit card portfolio, launched in 1992, is one of the nation's longest-tenured cobrand credit card programs
- Cardmembers can earn and redeem rewards on new Chevrolet, Cadillac, Buick, and GMC vehicles, including GM's new electric vehicle lineup
- Barclays will acquire the card program's receivables from the current issuer next year
- The partnership aligns with Barclays' growth strategy to establish partnerships with America's best brands
General Motors (NYSE: GM) e Barclays US Consumer Bank hanno stipulato un accordo di partnership a lungo termine per permettere a Barclays di diventare l'emittente esclusivo della GM Rewards Mastercard e della GM Business Mastercard negli Stati Uniti a partire dalla prossima estate. L'obiettivo della partnership è migliorare la fedeltà e il coinvolgimento con milioni di clienti GM.
Punti chiave:
- GM ha la più grande base di clienti di qualsiasi casa automobilistica negli Stati Uniti
- Il portafoglio di carte di credito GM, lanciato nel 1992, è uno dei programmi di carte di credito co-branded più longevi del paese
- I membri della carta possono guadagnare e riscattare premi su nuovi veicoli Chevrolet, Cadillac, Buick e GMC, compresa la nuova linea di veicoli elettrici di GM
- Barclays acquisirà i crediti del programma carta dall'emittente attuale il prossimo anno
- La partnership si allinea con la strategia di crescita di Barclays di stabilire partnership con i migliori marchi americani
General Motors (NYSE: GM) y Barclays US Consumer Bank han firmado un acuerdo de asociación a largo plazo para que Barclays se convierta en el emisor exclusivo de la GM Rewards Mastercard y de la GM Business Mastercard en Estados Unidos a partir del próximo verano. La asociación tiene como objetivo mejorar la lealtad y el compromiso con millones de clientes de GM.
Puntos clave:
- GM tiene la base de clientes más grande de cualquier fabricante de automóviles en EE. UU.
- El portafolio de tarjetas de crédito de GM, lanzado en 1992, es uno de los programas de tarjetas de crédito co-branded más antiguos del país
- Los miembros de la tarjeta pueden ganar y canjear recompensas en nuevos vehículos Chevrolet, Cadillac, Buick y GMC, incluida la nueva línea de vehículos eléctricos de GM
- Barclays adquirirá los activos de cuentas por cobrar del programa de tarjetas del emisor actual el próximo año
- La asociación se alinea con la estrategia de crecimiento de Barclays para establecer alianzas con las mejores marcas de EE. UU.
제너럴 모터스(뉴욕증권거래소: GM)와 바클레이즈 미국 소비자은행은 장기 파트너십 계약을 체결했습니다. 바클레이즈는 내년 여름부터 미국에서 GM 리워드 마스터카드 및 GM 비즈니스 마스터카드의 독점 발급사가 됩니다. 이 파트너십의 목표는 수백만 GM 고객과의 충성도와 참여를 강화하는 것입니다.
주요 사항:
- GM은 미국의 모든 자동차 제조업체 중 최대 고객 기반을 보유하고 있습니다
- 1992년에 출시된 GM 신용 카드 포트폴리오는 국가에서 가장 오래된 공동 브랜드 신용 카드 프로그램 중 하나입니다
- 카드 소지자는 새로운 쉐보레, 캐딜락, 뷰익 및 GMC 차량, GM의 새로운 전기차 라인업에서 보상을 적립하고 사용할 수 있습니다
- 바클레이즈는 내년에 현재 발급자로부터 카드 프로그램의 채권을 인수합니다
- 이 파트너십은 미국 최고의 브랜드와 파트너십을 구축하려는 바클레이즈의 성장 전략과 일치합니다
General Motors (NYSE: GM) et Barclays US Consumer Bank ont signé un accord de partenariat à long terme pour permettre à Barclays de devenir l'émetteur exclusif de la GM Rewards Mastercard et de la GM Business Mastercard aux États-Unis à partir de l'été prochain. L'objectif de ce partenariat est de renforcer la fidélité et l'engagement auprès de millions de clients GM.
Points clés :
- GM a la plus grande base de clients de tous les fabricants automobiles aux États-Unis
- Le portefeuille de cartes de crédit GM, lancé en 1992, est l'un des programmes de cartes de crédit co-marqués les plus anciens du pays
- Les membres de la carte peuvent gagner et échanger des récompenses sur de nouveaux véhicules Chevrolet, Cadillac, Buick et GMC, y compris la nouvelle gamme de véhicules électriques de GM
- Barclays acquerra les créances du programme de carte de l'émetteur actuel l'année prochaine
- Le partenariat s'inscrit dans la stratégie de croissance de Barclays de nouer des partenariats avec les meilleures marques américaines
General Motors (NYSE: GM) und Barclays US Consumer Bank haben eine langfristige Partnerschaftsvereinbarung getroffen, die es Barclays ermöglicht, exklusiver Herausgeber der GM Rewards Mastercard und der GM Business Mastercard in den Vereinigten Staaten zu werden, beginnend im nächsten Sommer. Ziel der Partnerschaft ist es, die Loyalität und das Engagement von Millionen von GM-Kunden zu fördern.
Wichtige Punkte:
- GM hat die größte Kundenbasis aller Automobilhersteller in den USA
- Das GM-Kreditkartenportfolio, das 1992 eingeführt wurde, gehört zu den am längsten bestehenden Co-Branding-Kreditkartenprogrammen des Landes
- Karteninhaber können Prämien auf neue Chevrolet-, Cadillac-, Buick- und GMC-Fahrzeuge, einschließlich der neuen Elektrofahrzeugreihe von GM, verdienen und einlösen
- Barclays wird im nächsten Jahr die Forderungen des aktuellen Herausgebers für das Kartenprogramm erwerben
- Die Partnerschaft passt zu Barclays Wachstumsstrategie, Partnerschaften mit den besten Marken Amerikas aufzubauen
- Long-term partnership with Barclays as exclusive issuer of GM Rewards Mastercard
- Potential for increased customer loyalty and engagement
- Opportunity to leverage GM's large customer base and industry-leading loyalty
- Expansion of rewards program to include GM's new electric vehicle lineup
- Barclays to acquire card program's receivables, potentially boosting its credit card portfolio
- None.
Insights
This partnership between GM and Barclays is a significant move in the credit card industry, potentially impacting both companies' financial performance. For Barclays, acquiring GM's credit card portfolio, with its millions of loyal customers, represents a substantial growth opportunity in the U.S. market. This aligns with Barclays' strategy to scale its credit card business through partnerships with major brands.
For GM, the deal could enhance customer loyalty and provide a new revenue stream. The high-value rewards program, especially when tied to GM's electric vehicle lineup, could drive increased vehicle sales and service usage. However, the financial impact will depend on the terms of the agreement and the success of the program's relaunch.
Investors should monitor key metrics following the transition, including:
- Growth in card acquisitions and usage
- Impact on GM's vehicle sales and service revenue
- Contribution to Barclays' U.S. credit card business growth
While potentially lucrative, the success of this venture will hinge on effective program management and the ability to leverage GM's brand strength in a competitive credit card market.
This partnership signifies a strategic shift in the automotive industry's approach to customer engagement and loyalty. GM's decision to partner with Barclays demonstrates the increasing importance of financial services in the automotive ecosystem. The move is particularly noteworthy given GM's industry-leading customer loyalty for nine consecutive years.
The focus on rewards for GM's electric vehicle lineup is a savvy move, aligning with the broader industry trend towards electrification. This could potentially accelerate EV adoption among GM's customer base by providing additional incentives.
The partnership also reflects the evolving landscape of brand partnerships in the financial sector. By offering "unforgettable and exclusive cardmember opportunities," GM and Barclays are tapping into the growing consumer demand for experiential rewards beyond traditional cashback or points systems.
Market watchers should pay attention to:
- Changes in GM's market share, especially in the EV segment
- Customer acquisition costs and retention rates for the new card program
- The impact on GM's brand perception and customer engagement metrics
North America’s largest automaker is joining forces with Barclays to build loyalty and engagement with millions of GM customers
GM has the largest customer base of any automaker in
GM Rewards cardmembers can earn and redeem high value GM rewards on new Chevrolet, Cadillac, Buick and GMC vehicles, including GM’s exciting new electric vehicle lineup. GM Rewards cardmembers may also earn and use GM rewards to service and accessorize their vehicles. The new GM Card rewards program with Barclays will introduce unforgettable and exclusive cardmember opportunities that only GM can provide.
“Our goal is to make the GM Rewards Mastercard a card that consumers will love to use because of the reward value and unique experiences only GM can deliver. We look forward to partnering with Barclays and their expert credit card team as we prepare for the exciting relaunch of the product next year,” said Paul Jacobson, GM Executive Vice President and Chief Financial Officer. “The opportunity ahead of us is especially exciting. We’re bringing thousands of new customers to our family of brands every year, especially as we grow in electric vehicles, and we look forward to creating new opportunities to reward our most loyal customers.”
“Barclays is thrilled to partner with General Motors, a truly iconic brand that has defined our country’s love of the automobile for over a century,” said Denny Nealon, CEO, Barclays US Consumer Bank. “As a leading and experienced player in the
The new partnership will serve to further scale Barclays' credit card portfolio in the
As part of the partnership, Barclays will be acquiring the card program’s receivables from the current issuer next year.
Current My GM Rewards cardmembers can continue to use their cards for everyday purchases and earn valuable rewards redeemable for GM products and services. Prior to the transition cardmembers will receive details and instructions on how to activate their new GM card issued by Barclays.
The GM credit card program will continue to be issued exclusively under the Mastercard brand, which provides a range of additional cardmember benefits.
General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM’s Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry’s widest range of EVs, as we move to an all-electric future. Learn more at GM.com.
Barclays US Consumer Bank is a leading co-branded credit card issuer and financial services partner in
View source version on businesswire.com: https://www.businesswire.com/news/home/20241014617044/en/
Media Contacts:
James Cain, GM
james.cain@gm.com
George Caudill, Barclays
gcaudill@barclaycardus.com
Source: Barclays
FAQ
When will Barclays become the exclusive issuer of GM Rewards Mastercard?
What can GM Rewards cardmembers earn rewards on?
How long has the GM credit card portfolio been in existence?
Will current My GM Rewards cardmembers be affected by this partnership?
How does this partnership align with Barclays' strategy?
