Cardaq Expands API-Driven Payment Infrastructure for Global Digital Commerce

Cardaq Limited has launched an expanded, API-driven payment infrastructure designed to streamline how businesses manage multi-currency accounts, foreign exchange, and cross-border transfers. For fintech professionals, this represents a move toward consolidating fragmented payment rails into a single environment, reducing the operational friction typically associated with international commerce, automated treasury management, and the scaling of global digital platforms.

What was announced

Cardaq’s new infrastructure is built to address the complexities of international operations by unifying payment accounts, IBANs, and card programs within a single API-enabled environment. The system provides direct connectivity to several major payment rails, including:

• SEPA and SEPA Instant for European transactions.
• Faster Payments and CHAPS in the UK.
• SWIFT for international transfers.

The core of the offering revolves around providing businesses with the ability to receive, hold, convert, and transfer funds without switching between disparate systems. By using Cardaq’s IBANs and payment accounts, companies can automate workflows for payroll, marketplace payouts, supplier payments, and customer refunds. The availability of different payment options supports businesses managing recurring and automated transactions. For internationally operating companies, these accounts and IBANs form the underlying infrastructure used to manage incoming funds and initiate payments while maintaining balances.

The API also incorporates foreign exchange (FX) functionality, supporting currency quotations, FX pairs, and exchange orders directly within the payment flow. This integration is intended to treat currency conversion as a native part of the payment process rather than a separate administrative task. Furthermore, the company highlighted its regulatory standing as an FCA-authorised Electronic Money Institution (EMI). To manage the compliance burden of cross-border activity, Cardaq has collaborated with Kani Payments to automate regulatory reporting, transaction analysis, and reimbursements. Through its API connectivity, account functionality is integrated with automated business processes, allowing technology teams to incorporate payment operations directly into existing systems.

"Cardaq’s latest infrastructure approach reflects a broader shift toward connected financial systems in which accounts, cards, wallets, transfers, and foreign exchange can operate through integrated technology."

Cardaq Limited

The companies involved

Cardaq Limited operates as an FCA-authorised Electronic Money Institution (EMI) within the UK’s regulatory framework, providing its services within relevant anti-money laundering requirements. The firm focuses on providing the underlying architecture for international payments, positioning itself as a bridge between traditional banking rails and modern digital commerce requirements. Its service model encompasses Banking-as-a-Service (BaaS) and Software-as-a-Service (SaaS) platforms, designed to support businesses as they expand into new regulated markets. The company is currently developing its broader payments offering to include end-to-end acquiring and issuing services, alongside scalable platforms intended to support international growth.

The company’s leadership includes Noyan Nihat, who serves as Co-Chief Executive Officer at Cardaq UK and has recently been appointed to the company’s board. Nihat brings significant industry experience to the role, also serving as the Deputy Chair of the Advisory Board for Cross-border and Inclusion at The Payments Association. Cardaq’s market position is defined by its focus on "connected payment architecture," where multiple financial functions—such as FX, card issuing, and account management—are handled through a single API. This approach is designed for businesses that operate across different markets and need access to more than one payment method, rather than relying on separate systems for different types of transactions.

What this means

The move toward a unified API for SEPA, Faster Payments, and SWIFT suggests that the industry is moving past the era of "multi-vending" for payment rails. For businesses, the value lies in reducing the "integration tax" of managing separate providers for FX and domestic transfers. However, this consolidation puts significant pressure on traditional banks that have historically relied on opaque FX margins and siloed corporate banking portals. The real test for Cardaq will be whether its infrastructure can maintain high straight-through processing rates across such diverse rails while navigating the tightening regulatory scrutiny on EMIs in the UK and Europe. As international commerce expands, programmable payment infrastructure is becoming a necessity for digital-native firms.