Comparison · Updated October 14, 2026
Lloyds Cardnet vs Barclaycard Payments for UK businesses
Lloyds Bank Cardnet
B-
Lloyds Bank Cardnet is the card-acquiring business of Lloyds Bank plc, run as a joint venture with Fiserv, and it serves UK businesses only. It is not available to US merchants, and every figure in this review is in pounds sterling (GBP). The merchant agreement is with Lloyds Bank plc trading as Cardnet. Cardnet Merchant Services Limited, the joint-venture company, is controlled by Lloyds, and its 2025 accounts say Fiserv's FDR Limited, LLC holds about 49% of its shares. The UK Payment Systems Regulator counts Cardnet among the five largest UK acquirers. The joint-venture company's 2025 accounts report about £57.5 billion of card payments across more than a billion transactions. Cardnet publishes no rate card. Each account is priced individually, and the pricing page gives only worked examples, such as 0.5% plus a 3p authorisation fee on a £100 in-person Visa debit payment. Card machines rent for £21 or £23 a month plus VAT, there is a £10 minimum monthly charge, and other fees, such as PCI DSS management, are set in each merchant's own schedule. Both versions of the merchant agreement that Lloyds publishes roll on with one month's notice, but leaving within six months triggers an early-termination fee, which the December 2021 version sets at £200. Lloyds also sells Lloyds Accept, a separate pay-as-you-go app for its own business-account customers with card turnover under £100,000, at a published 1.5% + 20p.
Barclaycard Payments
B-
Barclaycard Payments is the merchant-acquiring arm of Barclays Bank PLC, the business that has signed UK shops up to take cards since Barclaycard launched the country's first credit card on 29 June 1966 and installed the UK's first electronic point-of-sale terminal in 1986. It is one of the largest acquirers in the UK — the company says it processed more than nine billion card payments in 2025 for more than 160,000 businesses, settling in 18 currencies and accepting 118 — and it is in the middle of the biggest change in its history: in April 2025 Barclays agreed a partnership under which Brookfield Asset Management will help run the business as a standalone company, Barclays will put in about £400 million, and Brookfield can buy a majority stake from year three. A new chief executive, Jason Lalor, formerly of Mastercard, Conferma and Square, started in January 2026. For merchants the offer splits in two. Small businesses get Smartpay Anywhere, a £29 + VAT pocket reader with no contract and no monthly fee, or Smartpay Touch, a £29 + VAT-a-month Android terminal on a 12-month term with no exit fee; both settle next working day for sales taken before 7pm. Traditional countertop and portable terminals come on 18-month contracts at £16 or £18 + VAT a month after a free first year, with an exit fee if you leave early. Barclaycard publishes no rate card — every account is priced on turnover, with representative examples of 0.7% + 3p on an in-person debit card and 2.05% + 3p on a keyed credit card — and its service reputation is the weak point: the only Trustpilot profile blends consumer-card and merchant reviews and is dominated by complaints about reaching a person.
VS
Overview
Both are UK card acquirers owned by big banks. We compare them in pounds, using what each published as of 14 October 2026. Neither publishes a rate card: both quote each business individually and show only worked examples. Lloyds' in-person example is 0.5% + 3p on a UK Visa debit card. Barclaycard's is 0.7% + 3p on a personal debit card, which it calls representative only. The clearer differences are in hardware, contracts and payouts. Barclaycard's portable terminal costs £18 + VAT a month, against £23 + VAT for Cardnet's Castles Saturn, but it comes on an 18-month contract with a cancellation fee. Cardnet does not publish the term for the Saturn. Barclaycard also sells a £29 + VAT pocket reader with no contract, while Cardnet's closest thing is Lloyds Accept, a separate pay-as-you-go service for Lloyds and Bank of Scotland account holders. Both merchant agreements roll on and can be ended at about a month's notice. Cardnet charges an early-termination fee only in the first six months. On payouts, Barclaycard's terms say settlement usually arrives one banking day after it receives your transactions. Cardnet's default is within five business days, and next-day Faster Settlement costs extra, although Lloyds says funds typically arrive the next working day. Cardnet's customer line is open longer: 8am to 9pm Monday to Saturday, against Barclaycard's weekday 8am to 6pm. Payment Review grades both B-.
Key Takeaways
- ✓There is no overall winner, and both are graded B-. Both price every account on a quote, so the deciding factors are hardware, contract and payout terms rather than published rates.
- ✓Barclaycard settles faster by contract: its merchant terms say payment usually reaches your bank one banking day after it receives your transactions. Cardnet's agreements default to within five business days, with next-day Faster Settlement as a paid option, though Lloyds says funds typically arrive the next working day.
- ✓Barclaycard's portable terminal is cheaper per month (£18 + VAT against £23 + VAT for Cardnet's Castles Saturn), but it ties you to an 18-month contract with a cancellation fee of £10 + VAT for each month left. Cardnet does not publish the Saturn's contract term.
- ✓Both merchant agreements roll on and can be ended at about a month's notice. Cardnet charges an early-termination fee if you leave in the first six months (£200 under its December 2021 terms). Barclaycard's merchant terms carry none, but its countertop and portable terminals do. Barclaycard also offers up to £1,000 towards your old provider's exit fees if you switch, on its eligibility terms.
- ✓Cardnet's customer service line is open 8am to 9pm Monday to Saturday, against Barclaycard's 8am to 6pm on weekdays. Both offer 24/7 technical support.
Lloyds Bank Cardnet
Lloyds Cardnet suits a UK business that wants Clover point-of-sale hardware, a published online-payments gateway and support six days a week, on a rolling merchant agreement. Ask for Faster Settlement in your quote if you need next-day payouts, and get the terminal rental term in writing.
Barclaycard Payments
Barclaycard Payments suits a business that wants next-day settlement written into the standard terms, a cheaper portable terminal it can commit to for 18 months, or a no-contract pocket reader. Switchers can also claim up to £1,000 towards exit fees.
The Verdict
It Depends on Your Needs
Why?
Neither bank wins across the board, and Payment Review grades both B-. Both quote every business individually, so the published worked examples are not a basis for choosing. Barclaycard Payments is stronger on payout terms and entry cost. Its standard terms settle one banking day after it receives your transactions, its portable terminal rents for £18 + VAT a month against £23 for Cardnet's, and its Smartpay Anywhere reader costs £29 + VAT with no contract. It will also pay up to £1,000 towards exit fees if you switch. The trade-off is an 18-month terminal contract with a cancellation fee, and weekday-only customer service. Lloyds Cardnet is stronger on service and online payments. It publishes how its online gateway is charged, and its customer line is open until 9pm six days a week. But its contracts default to five-day settlement unless you pay for Faster Settlement, it charges an exit fee if you leave the merchant agreement within six months, and it does not publish the rental term for most of its terminals. Get written quotes from both, and compare the settlement terms and terminal contract length in each.
Feature by feature
Detailed Comparison
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Transaction pricing (UK, as published October 2026)
| Feature | Lloyds Bank Cardnet | Barclaycard Payments |
|---|---|---|
| Pricing model | Quoted for every business | Quoted for every business |
| Neither bank publishes a rate card. Lloyds says its examples are "just to give you an idea of what we charge for transactions", and every Cardnet card reader is sold with "Tailored transaction fees". Barclaycard lists "Customised pricing" as the transaction rate for all four of its card readers and says "These rates are representative only." Lloyds' separate Lloyds Accept service has published rates, but it is a different product with its own terms. | ||
| In person, UK personal debit card (worked example) | 0.5% + 3p | 0.7% + 3p |
| Lloyds' example is a £100 in-store purchase on a UK Visa debit card: a 0.5% service charge (£0.50) plus a £0.03 authorisation fee, £0.53 in total. Barclaycard's is a £50 in-person purchase on a Visa or Mastercard personal debit card: 0.7% (£0.35) plus a 3p authorisation fee, £0.38 in total. On the same £100 sale Barclaycard's example would come to £0.73. Both banks present these as illustrations, and your quote will depend on turnover and card mix, so no winner is given. | ||
| Card-not-present credit card (worked example) | 0.5% + 0.25% CNP + 3p, plus 13p gateway (online) | 2.05% + 3p (by phone) |
| These measure different channels, so no winner is given. Lloyds' example is a £100 online purchase on a UK Mastercard credit card: a 0.5% service charge, a 3p authorisation fee, a 0.25% card-not-present fee and a 13p payment-gateway fee (charged only if you use Cardnet's payment page), £0.91 in total. Barclaycard's example is a £50 purchase by phone on a Visa or Mastercard personal credit card: 2.05% (£1.03) plus a 3p authorisation fee, £1.06 in total. Barclaycard's statement guide says a card-not-present fee is added to your standard charge on all CNP sales. | ||
| Minimum monthly charge | £10 | Not disclosed |
| Lloyds' pricing page says "Your minimum monthly charge is £10" for Cardnet customers who are not on pay-as-you-go. Barclaycard's card-reader pages say you may pay "a minimal monthly service charge", and its statement guide lists minimum billing fees among monthly charges, but neither gives an amount. | ||
| Extra charges listed | Card-not-present, international cards, refunds and chargebacks, PCI DSS, Amex | Card-not-present, international cards, chargebacks, PCI DSS |
| Both banks name the categories but set the amounts in each merchant's contract. Lloyds lists American Express acceptance as an extra. Barclaycard says its readers accept American Express "when selected". Cardnet's December 2021 merchant agreement, which covers every merchant outside the October 2025 group, also lists fixed fees such as £30 per chargeback once a month's chargebacks exceed 1% of Visa and Mastercard sales; its October 2025 agreement publishes no fee schedule. | ||
Pricing model
Lloyds Bank Cardnet
Quoted for every business
Barclaycard Payments
Quoted for every business
Neither bank publishes a rate card. Lloyds says its examples are "just to give you an idea of what we charge for transactions", and every Cardnet card reader is sold with "Tailored transaction fees". Barclaycard lists "Customised pricing" as the transaction rate for all four of its card readers and says "These rates are representative only." Lloyds' separate Lloyds Accept service has published rates, but it is a different product with its own terms.
In person, UK personal debit card (worked example)
Lloyds Bank Cardnet
0.5% + 3p
Barclaycard Payments
0.7% + 3p
Lloyds' example is a £100 in-store purchase on a UK Visa debit card: a 0.5% service charge (£0.50) plus a £0.03 authorisation fee, £0.53 in total. Barclaycard's is a £50 in-person purchase on a Visa or Mastercard personal debit card: 0.7% (£0.35) plus a 3p authorisation fee, £0.38 in total. On the same £100 sale Barclaycard's example would come to £0.73. Both banks present these as illustrations, and your quote will depend on turnover and card mix, so no winner is given.
Card-not-present credit card (worked example)
Lloyds Bank Cardnet
0.5% + 0.25% CNP + 3p, plus 13p gateway (online)
Barclaycard Payments
2.05% + 3p (by phone)
These measure different channels, so no winner is given. Lloyds' example is a £100 online purchase on a UK Mastercard credit card: a 0.5% service charge, a 3p authorisation fee, a 0.25% card-not-present fee and a 13p payment-gateway fee (charged only if you use Cardnet's payment page), £0.91 in total. Barclaycard's example is a £50 purchase by phone on a Visa or Mastercard personal credit card: 2.05% (£1.03) plus a 3p authorisation fee, £1.06 in total. Barclaycard's statement guide says a card-not-present fee is added to your standard charge on all CNP sales.
Minimum monthly charge
Lloyds Bank Cardnet
£10
Barclaycard Payments
Not disclosed
Lloyds' pricing page says "Your minimum monthly charge is £10" for Cardnet customers who are not on pay-as-you-go. Barclaycard's card-reader pages say you may pay "a minimal monthly service charge", and its statement guide lists minimum billing fees among monthly charges, but neither gives an amount.
Extra charges listed
Lloyds Bank Cardnet
Card-not-present, international cards, refunds and chargebacks, PCI DSS, Amex
Barclaycard Payments
Card-not-present, international cards, chargebacks, PCI DSS
Both banks name the categories but set the amounts in each merchant's contract. Lloyds lists American Express acceptance as an extra. Barclaycard says its readers accept American Express "when selected". Cardnet's December 2021 merchant agreement, which covers every merchant outside the October 2025 group, also lists fixed fees such as £30 per chargeback once a month's chargebacks exceed 1% of Visa and Mastercard sales; its October 2025 agreement publishes no fee schedule.
Best For Your Business
Recommendations based on your business type
Business that needs next-day payouts without paying extra
Recommended
Barclaycard Payments
Barclaycard's standard merchant terms say settlement usually arrives one banking day after it receives your transactions. Cardnet's agreements default to within five business days and charge for next-day Faster Settlement, although Lloyds says funds typically arrive the next working day depending on your settlement agreement.
Business that wants to avoid a long terminal contract
Both. Barclaycard publishes its terms: its countertop and portable terminals come on 18-month contracts with a cancellation fee for each month left, while Smartpay Touch is on 12 months with no cancellation cost and Smartpay Anywhere has no contract. Cardnet publishes a term only for the Clover Station Duo (18 months fixed), and its merchant agreement charges an early-termination fee in the first six months. Get the rental term and any cancellation charge in writing from both before you sign.
Market trader or occasional seller
Recommended
Barclaycard Payments
Barclaycard's Smartpay Anywhere reader costs £29 + VAT once, with no contract and no cancellation cost. Cardnet itself has no comparable reader. Lloyds Accept, Lloyds' separate pay-as-you-go service, sells a £49 + VAT reader with no monthly contract and published 1.5% + 20p pricing, but only to Lloyds Bank or Bank of Scotland business-account holders taking up to £100,000 a year on cards.
Café or shop that wants a point-of-sale system
Both. Cardnet rents Clover devices (Flex £21, Mini £23 + VAT a month, with paid software packages for stock and hospitality features) with access to Clover's app market. Barclaycard's Smartpay Touch is £29 + VAT a month on a 12-month contract, sold with stock tracking, bookings and SMS reminders, and has no cancellation cost. Compare the full monthly bundle you need.
Small business selling online
Recommended
Lloyds Bank Cardnet
Cardnet sells a hosted payment page, an API integration and pay by link, and publishes how it charges: a 13p gateway fee per transaction plus a monthly fee. Barclaycard's small-business card-reader pages offer no online product, and its Smartpay gateway, pitched at corporate businesses of all sizes, has no published price.
Business switching from a provider with exit fees
Recommended
Barclaycard Payments
Barclaycard will reimburse up to £1,000 of exit fees for eligible new merchants with under £6.5m in card turnover, signed up by phone or direct sales on customised pricing. Lloyds advertised no equivalent for Cardnet as of October 2026.
Lloyds Bank Cardnet: Best for 1 use case
Barclaycard Payments: Best for 3 use cases
Frequently Asked Questions
Common questions about this comparison
Neither publishes a rate card, so you need a quote from each. Their worked examples are illustrations only. Lloyds shows 0.5% plus a 3p authorisation fee on a UK Visa debit card in person, and Barclaycard shows 0.7% plus 3p on a personal debit card in person. Both may add a card-not-present fee, international card fees, chargeback fees and PCI DSS charges. Cardnet has a £10 minimum monthly charge, and Barclaycard says a minimal monthly service charge may apply.
Lloyds says you don't need to be a Lloyds customer to apply for most Cardnet card readers or for Cardnet online payments. Lloyds Accept, its separate pay-as-you-go service, is only for Lloyds Bank and Bank of Scotland business-account holders. Barclaycard's card-reader pages do not mention needing a Barclays account; confirm it when you ask for a quote.
Barclaycard's merchant terms say settlement usually reaches your bank one banking day after it receives your transactions, for sales before 7pm, or 9pm on its countertop and portable terminals. Cardnet's merchant agreements say payment is usually within five business days, with next-day Faster Settlement available for a charge. Lloyds' own pages say funds typically arrive the next working day depending on your settlement agreement, so check which applies in your contract.
Both merchant agreements roll on until you end them, with about a month's notice. Cardnet charges an early-termination fee only if you leave within six months, set at £200 in its December 2021 terms. Barclaycard's countertop and portable terminals are on 18-month contracts with a cancellation fee, which it illustrates as £7 + VAT (countertop) or £10 + VAT (portable) for each month left. Smartpay Touch and Smartpay Anywhere have no cancellation cost.
As of October 2026, Cardnet's Castles Saturn rents for £23 + VAT a month with a free SIM, the Clover Flex for £21 + VAT and the Clover Mini for £23 + VAT. Barclaycard's countertop terminal is £16 + VAT a month and its portable £18 + VAT, both on 18-month contracts. Smartpay Touch is £29 + VAT a month, and the Smartpay Anywhere pocket reader is £29 + VAT once.
Not for new sign-ups, according to its own terms. The terms on Barclaycard's contact page say the offer of 12 months' free service fees on new countertop and portable readers ended on 30 September 2026, although the same page still carried the promotional line on 14 October 2026. Its card-reader pages list £16 and £18 + VAT a month with no free period, so ask before you sign. Its offer of up to £1,000 towards exit fees for switchers was still advertised on 14 October 2026.
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