Lloyds Cardnet

Lloyds Cardnet is the card acceptance service that Lloyds Bank sells to its business customers, and Bank of Scotland offers it under the same Cardnet name. It is a joint venture: Lloyds owns 51% and Fiserv, which now owns First Data, holds the other 49%. Lloyds handles sales through its business banking network, while Fiserv processes the transactions and supplies the products, including its Clover point-of-sale range. Cardnet has no employees of its own; both parents recharge it for the staff who run it.

It is a large operation. In 2025 Cardnet processed £57 billion of card payments, 10% more than a year earlier but still below the £66 billion of 2021, and debit cards made up about £41 billion of that. Net fee and commission income was £54 million.

Merchants can choose countertop and portable terminals, Clover devices, a mobile card reader, an online gateway with a hosted payment page or API, payment links and a virtual terminal for phone orders. Visa, Mastercard, Maestro, JCB, Discover and Diners Club are accepted, while American Express normally needs a separate agreement. Lloyds' online payments brochure lists Apple Pay and Google Pay on the gateway. Since a 2023 deal between Lloyds and Fiserv, Cardnet merchants can also offer dynamic currency conversion priced from Lloyds' wholesale foreign exchange rates.

Cardnet is aimed at UK businesses, and Lloyds or Bank of Scotland customers expecting under £500,000 a year in card takings can use a shorter online application. Transaction rates are quoted for each business, so compare the whole contract, including terminal rental, any minimum monthly charge and PCI compliance fees, before signing.