Lloyds Bank Cardnet is part of the Lloyds Bank Group. This card processing arm of Lloyds partnered with First Data to provide businesses with merchant account services. It processed 1.1 billion card transactions through 75,000 card terminals in 2016, totally £64 billion worth of card sales for the year.
Lloyds Bank Cardnet Credit Card Processing & Payment Services
Lloyds Bank Cardnet Payments
Lloyds Bank Cardnet processes a huge range of debit and credit cards from around the globe. It also accepts a wide range of payments types in many currencies:
- American Express
- BC Global Card
- Corporate, Commercial and Purchasing cards
- Diners Club International
- International Maestro + Maestro
Other Lloyds Bank Cardnet Products and Services
- International transactions: Dynamic Currency Conversation lets international customers pay in their home currency, using a foreign-issued Visa or MasterCard card, at no additional cost (39 currencies). Multi-currency transactions are also offered through Lloyds Bank Cardnet, allowing businesses to take payment from overseas. This service supports more than 50 currencies, with settlement available in 13 different currencies.
- Services for Corporates: –
- A dedicated relationship manager
- Comprehensive onboarding support
- Bespoke rates
- Sophisticated online reporting tools
- Compliance advice
- Mobile top-ups
- Reporting: – Track business finances and get an insight into customer trends with online card transaction reports.
- Trade Association: Introduce Cardnet to your member base and you can earn commission and your members will benefit from bespoke rates.
Lloyds Bank Cardnet Pricing & Fees
Lloyds Bank Cardnet have a range of options for any size business. They don’t publish their prices and fees on their website. They operate a bespoke pricing system for corporates and those companies wanting multiple payment methods. If you have a Lloyds Bank Business account, you will enjoy reduced fees.
- Clover – POS system
- Accept payments
- Track sales
- Monitor staff performance
- Secure, cloud-based storage
- Dedicated technical support
- Face to Face
- Countertop machines
- Portable machines
- SIM card mobile handsets
- Contactless payments
- Online Payments – Designed for small businesses
- Hosted payment page
- Virtual terminal for mail and telephone orders
- Strong fraud prevention tool
- Detailed online management information portal
- Over the phone payments
To see how that compares have a look at: 2019 UK Merchant Account and Credit Card Processing Fee Comparison.
Lloyds Bank Cardnet Features
- Connect with your eCommerce website
- Online payment
- Wide range of debit and credit cards accepted
- International transactions
- Bespoke services for corporates
- 24/7 UK based support
- Customisable payment pages
- Mobile Card machine
- Portable Card machine
- Countertop Card machine
- Card machine integrates with your Point of Sale
- Contactless payments
Lloyds Bank Cardnet is part of the Lloyds Bank Group. Lloyds Bank was founded in 1765, in Birmingham, UK. It is one of the big four clearing banks and is the largest retail bank in Britain. The Cardnet division of the Lloyds Bank Group was founded in 1997 and now processes over 2.5 million transactions per day. Cardnet is a joint venture between First Data and Lloyds Bank.
First Data began its life in Omaha, Nabraska in 1971 by providing processing services to the Mid-America Bankcard Association (MABA). The company grew over the next decade and in 1980, American Express bought 80% of the company, purchasing the remaining 20% over the next 4 years. First Data was incorporated in 1989 and went public in 1992.
The company now has a worldwide presence across 118 countries, serving 4000 financial institutions and six million merchants. They have award winning technology which is powered by 23,000 owner-associates worldwide, allowing them to process over 2,800 transactions per second. Over $1.9 trillion goes through them every year and they process 28% of the world’s eCommerce volume.
This joint venture, by two well respected financial service providers, is used to process transactions through 75,000 terminals daily.
Lloyds Bank Cardnet Pros & Cons
There are very few customer reviews of Cardnet online, even Trustpilot comes up empty. However, Cardnet seems to be respected company which has had very few complaints against it, which in itself speaks volumes for a company of its size. The main form of complaint seems to be poor customer service and delayed or frozen payments. The latter are funds held by high risk or card-not-present merchants, which would occur not matter who the merchant account provider was.