The logo cost £600 000 to develop, and Barclaycard expects to spend £1m rolling it out over the next two years.

The Brand Union was appointed following a competitive pitch against other Barclaycard rostered consultancies.

The new marque features a globe motif, which Barclaycard claims refers to the chip being freed from the plastic credit card as new ways of paying for items are introduced.

According to the credit card company, the motif is also supposed to symbolise a world that is calm and confident on the outside, and warm and vibrant on the inside.

Barclaycard head of brand management Rhidian Taylor adds that the old logo did not project a global, modern image.

The new identity will appear in green, magenta, orange and cyan versions, with cyan being the principal colour.

£1.5m update for Barclaycard - Design Week

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Toon Creffield

I'm Toon Creffield - A Graphic Design and Marketing professional from Sheffield, UK