Lloyds Bank Cardnet merchant services rack up a fairly average score with all things considered. The first issue we have is the fact it doesn’t provide a payment gateway for online payments – this just means extra hassle for merchants and another firm you have to deal with.
Next we have to knock off some points for the fees you’ll be looking at, although these are fairly typical for merchant services from the big banks. Aside from those concerns, things look largely positive for Cardnet customers, although it won’t be the provider for a number of smaller businesses.
However, if you turn over a high volume of card payments, or need to reach international customers, then this could be a more lucrative option for you – especially if you already hold a Lloyds Bank Business account. And, of course, you can always do your best to negotiate the firm down to a pricing model that sits better with you. After all, it costs nothing to get a quote if you think Cardnet could be the provider for you.