Gap enters credit card program agreements with Barclays and Mastercard

By Pavithra R

Gap, a collection of purpose-led, lifestyle brands including Old Navy, Gap, Banana Republic and Athleta, has announced entering into new, long-term credit card program agreements with Barclays and Mastercard. The collaboration brings together long-term leaders and innovators in retail, banking and payments.

Under the deal, Barclays will become the exclusive issuer of Gap’s co-branded and private label credit card program in the U.S. beginning in May 2022. Together the companies will issue the co-branded credit cards on the Mastercard payment network.

Gap, as part of its Power Plan 2023 is focused on enhancing its rewards program to attract new customers and create enduring relationships to turn its customers into lifelong loyalists. It continues to innovate its loyalty and payments capabilities to drive customer engagement and increased frequency including through recent collaborations with Afterpay and PayPal.

The firm in September 2020 launched a new program across the U.S. and Puerto Rico, with branded expressions across each of its core brands: Navyist Rewards, Gap Good Rewards, Banana Republic Rewards, and Athleta Rewards. The relaunched credit card program will be a key component of the new rewards program.

Gap,  Barclays and Mastercard share a common goal of delivering great value to customers and an exceptional cardmember experience. The alliance will help Gap’s iconic brands to continue offering a suite of credit card products, anchored in a digital and physical shopping experience, as part of a reimagined rewards program.

Also, read Mastercard partners with ConsenSys to support the future of multi-blockchain commerce.