Founded in 1997 by Antonio Horta-Osorio, Lloyds Bank Cardnet is the merchant services department of the largest retail bank in the UK, Lloyds Bank. All departments are part of Lloyds Banking Group. Based in Basildon, it provides payment solutions and merchant accounts to businesses in the UK. It offers card machines and other tools and support merchant need to accept payment face-to-face, online, or phone payments. Its merchant account includes PCI DSS security, currency conversion, and support for most major credit and debit cards. Lloyds Bank Cardnet online payment gateway has secure hosted checkout, developer API, and full integration into almost all online shopping carts. Since it functions as the acquiring bank, this cuts out the need to source a payment gateway through another service. Additionally, its online payment gateways include fraud prevention, PCI DSS security, and online reporting. Its online reporting is unique in that you can view chargebacks from 15 months ago and all customer transactions, including those dating back to 13 months ago. With this tool, you also can flag questionable transactions, schedule automatic reports, and evaluate the pricing plan and fees of each transaction. In addition to offering international transaction support, it offers a large selection of services and discounts for various trade association members.
Currently, Lloyds Bank Cardnet serves more than 50,000 merchants. It handles 1.1 billion transactions a year and £64 billion card sales every year. Though it is a major credit card processor in the industry, Lloyds Cardnet has a low number of complaints or poor reviews filed against it.