GPS Gap Inc

By Matt Grossman

Gap Inc. said Tuesday that Barclays PLC will become the exclusive issuer of Gap's credit cards.

The announcement from Gap confirms an earlier report in the Wall Street Journal that Gap is parting ways with its previous credit-card issuer, Synchrony Financial, in favor of Barclays.

The Barclays-issued cards will use the Mastercard Inc. payment network, Gap said. The transition to the new Barclays-issued cards will take place next year, according to the San Francisco-based apparel retailer.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

April 13, 2021 09:45 ET (13:45 GMT)

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