This builds upon their existing relationships and will enable Barclaycard to issue cards accepted on the American Express global network in the UK, for the first time.

Barclaycard and American Express currently have a number of business relationships around the world, including in the U.S for card issuing, and the UK for acceptance of payments.

This new UK card issuing agreement will increase the choice available to Barclaycard customers and will lead to a wider range of products being offered to UK consumers. Barclaycard and American Express will commence product development during 2013, with product details being announced at a later point.

Valerie Soranno Keating, Chief Executive of Barclaycard said: "Today's news that two of the world's leading payments businesses will be working more closely in the UK will mean greater choice for UK consumers. It also reinforces Barclaycard's position as a partner of choice in the payments industry and as a leading innovator in UK payments."

Paul Abbott, Executive Vice-President, American Express Global Network Services, Europe Middle East and Africa said: "We are very pleased to partner with Barclaycard, reflecting our strategy of building relationships with the best partners around the world. By working with Barclaycard we look forward to bringing new benefits and services to their customers which reflect our commitment to outstanding value and first class service."