NatWest Bank is to pay £23 million for a 13 per cent stake in WorldPay, a UK online payment company.
On the back of the deal the two announced a strategic alliance to develop a global internet payments system. The agreement will also see NatWest sell WorldPay's internet credit card acceptance services to its business customers.
WorldPay provides small companies with the systems to allow them to take online credit card payments on their websites. The company is planning an internet flotation later this year.