LONDON, Feb 20 (Reuters) - Capital One's $35 billion tie-up with U.S. credit card issuer Discover Financial Services underscores the value of credit card and payments businesses, Barclays CEO C.S. Venkatakrishnan said on Tuesday.

"What it shows you is that the market does value both those businesses – credit cards and payment rails," Venkatakrishnan said, referring to financial market infrastructure connecting payers and payees in a call with reporters after unveiling a strategy overhaul and annual results for 2023.

Warren Buffett-backed U.S. consumer bank Capital One said on Monday that it would acquire Discover in an all-stock transaction to create a global payments giant.

Barclays said it would outline plans for its own payments business in an investor presentation later on Tuesday. Reuters first reported it was exploring an overhaul of the unit.

(Reporting by Lawrence White and Iain Withers, Editing by Sinead Cruise)