Barclays is reportedly close to finalizing a deal to sell its UK-based payments business to Brookfield Asset Management, according to sources familiar with the matter. The potential transaction aligns with Barclays’ broader strategy to streamline its operations and refocus on core banking services.

Brookfield, a leading global investment firm, is expected to acquire the payments unit as part of its expanding portfolio of financial infrastructure assets. While the financial terms of the deal have not been disclosed, reports suggest that discussions are at an advanced stage, with an official announcement likely in the coming weeks.

Barclays’ payments division provides a range of services, including card processing and merchant acquiring solutions, catering to businesses across the UK. The sale is seen as part of the bank’s ongoing efforts to optimize its business model, enhance shareholder value, and navigate an evolving regulatory and competitive landscape.

For Brookfield, the acquisition could offer strategic synergies, given the firm’s existing investments in the payments and fintech sectors. The move underscores the growing interest of private equity firms in financial technology and payment infrastructure, sectors that continue to see significant global demand.

Neither Barclays nor Brookfield have formally commented on the deal, but industry analysts suggest that the transaction could mark a significant shift in the UK payments market, potentially paving the way for further consolidation and investment in digital financial services.