A payment acceptance company supported by Barclays and which deals with billions of books each year on behalf of small businesses has recruited a veteran in the sector to become its general manager.
Sky News has learned that Jason Lalor, former patron of European square operations, will lead the joint venture between the British bank and Brookfield Asset Management.
Formerly known as the merchant acquisition unit, the division was entirely held by Barclays until the beginning of the year, when it concluded a partnership agreement with the financial infrastructure specialists in Brookfield.
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As part of this agreement, Barclays will invest 400 million pounds sterling over three years, while Brookfield has the possibility of converting its initial participation of 10 % into a majority participation of 80 % in the seven years following the transaction.
The agreement between Barclays and Brookfield took almost a year to succeed, the search for a managing director having taken several months to conclude.
The most recent role of Mr. Lalor was that of Managing Director of Conferma Pay, a supplier of virtual payment technology supported by Mastercard.
He also worked at Barclaycard, Mastercard, American Express and Dell.
The Barclays unit will continue to use the Barclaycard Payments brand, according to a statement published earlier this year, and will be the only payment service provider for Barclays customers for at least a decade.
Announcing the agreement in April, Matt Hammerstein, director general of Barclays in the United Kingdom, said: “We occupy a leading position in the United Kingdom, but we know that our payment customers are increasingly looking for integrated connectivity, end-to-end service and tailor-made technological solutions on the part of their payment providers. »»
Brookfield refused to comment on Tuesday.