Barclaycard is boosting its capabilities in the lucrative rewards market through the acquisition of payments and loyalty specialist The Logic Group. Financial terms have not been disclosed.
The acquisition, which covers The Logic Group's UK and Spanish businesses, is expected to close in the fourth quarter, subject to competition authority approval.
The Logic Group says that Barclaycard's merchant clients will benefit from its loyalty programmes and data insight technology, enabling them to provide highly targeted services to their customers.
The card firm's clients will also access The Logic Group's transaction processing capabilities from multiple sales channels - store, online and mobile - through a single platform.
Valerie Soranno Keating, chief executive, Barclaycard, says: "There is a strong fit between our two businesses, most notably in our shared commitment to innovation and customer service and mutual recognition of the role of technology in driving change across the payments industry."