---
title: "Cardaq Limited SWIFT/BIC code CAQAGB22XXX · United Kingdom | Elucidate"
description: "Licensed in the United Kingdom: Authorised E-Money Institution (FCA). SWIFT/BIC code CAQAGB22XXX for Cardaq Limited, United Kingdom. Head-office BIC."
url: https://elucidate.co/directory/cardaq-limited-caqagb22
---
1. [Directory](https://elucidate.co/directory)
2. [United Kingdom](https://elucidate.co/directory/country/gb)
3. Cardaq Limited
United Kingdom · Payments & e-money
# Cardaq Limited
Cardaq Limited is a private limited company based in London. The FCA authorises it as an electronic money institution under firm reference number 900088. IXXOV Limited owns all of the firm and is under the control of Hugo Remi. According to its 2025 accounts, its main business is card acquiring for e-commerce merchants and payment partners, alongside card issuing, as a principal member of Visa, Mastercard and UnionPay.
Register status
Licensed in the United Kingdom
Authorised E-Money Institution · FCA
Prudential licence
[1 licence or registration ↓](https://elucidate.co/directory/cardaq-limited-caqagb22#licences)
BIC **CAQAGB22XXX** LEI **[9845005BQBF16C161505](https://search.gleif.org/#/record/9845005BQBF16C161505)** [Licence no. **900088**](https://elucidate.co/directory/cardaq-limited-caqagb22#licences) Reverse billing Head-office BIC only [Claim this profile](https://elucidate.co/directory/cardaq-limited-caqagb22#claim)
## Licences and registrations
Held by Cardaq Limited (LEI 9845005BQBF16C161505). 1 entry on 1 of the 22 tracked registers, retrieved 25 September 2026.
| Register | Licence | Number | Jurisdiction | Status | Registered | Ends | Activities | Register entry |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| [FCA Financial Services Register - E-Money Institutions](https://elucidate.co/directory/register/fca-emi) FCA Linked by LEI. Matched by Elucidate on the UK company number the register gives. | Authorised E-Money InstitutionE-Money / Stored Value Institution | 900088 | [United Kingdom](https://elucidate.co/directory/country/gb) | Active | 2018-05-18 | — | - Payment services - E-money / stored value | [Search the register ↗](https://register.fca.org.uk/s/) |
Trading names on the register: Teido (FCA-EMI), Pridepay (FCA-EMI)
- Licences belong to the legal entity, not to a BIC.
- Each licence applies in the country of the regulator that granted it.
- Registers are tracked in 37 countries. Licences granted elsewhere are not recorded here.
- The register entries and their trading names were not matched against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
## Swift network
Swift’s ISO 9362 BIC directory
- **BIC:** CAQAGB22XXX head office
- **Connection to Swift:** Reverse billing
- **Swift GPI:** Not on the member list
- **Payment schemes and systems:** No entry in the EPC registers, the ECB T2 and TIPS lists or the SIX Bank Master cites this BIC
- **Branch codes:** None: head-office BIC only
- **BIC first registered:** 2023-08-05
- **Last updated:** 2023-08-05
## Overview
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
Customers
Not published
Employees
17
headcount · This entity · 31 Dec 2025 · [annual report ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history/MzU0NzM2OTM4OWFkaXF6a2N4/document?format=pdf&download=0)
Ownership
Group subsidiary
100% IXXOV Limited
Firm type
Merchant acquiring and processing
Trades as Cardaq
- **Standing:** A FinTelegram report of 28 August 2026 says the FCA register records a restriction on new business for the firm. Under it, the firm may not take on new customers without the FCA's prior written consent. The firm's 2025 accounts say it has operated under heightened regulatory and scheme scrutiny and is carrying out a remediation programme.
- **Ownership:** IXXOV Limited (Companies House 10575438) owns 100% of the firm, and the 2025 accounts state that IXXOV Limited is under the common control of Hugo Remi.
- **Direct parent:** IXXOV Limited, United Kingdom 100%
- **Head office:** One, Bartholomew Close, EC1A 7BL London, United Kingdom (registered office: Broadfield Law Uk Llp, One Bartholomew Close, London, United Kingdom, EC1A 7BL)
- **Company register:** Companies House 07805564
- **Incorporated:** 11 Oct 2011
- **Founder:** Hugo Remi
- **Former names:** COSPAY LIMITED · PAYCO FINANCIAL SERVICES LTD
### Online
- **Websites & references:** [cardaq.com ↗](https://cardaq.com/) [cardaq.co.uk ↗](https://cardaq.co.uk/) former main domain, still carrying the firm's regulatory footer [cardsapi.cardaq.co.uk ↗](https://cardsapi.cardaq.co.uk/) card issuing API platform [gate.cardaq.co.uk ↗](https://gate.cardaq.co.uk/) merchant and payment facilitator portal [portal.cardaq.co.uk ↗](https://portal.cardaq.co.uk/auth) corporate and private account login
- **Official social accounts:** [LinkedIn ↗](https://www.linkedin.com/company/cardaq/posts/?feedView=all) · [X ↗](https://twitter.com/Cardaq_limited) · [Facebook ↗](https://www.facebook.com/cardaq.limited) · [Instagram ↗](https://instagram.com/cardaq.official)
Sources · 12 pages consulted
1. [find-and-update.company-information.service.gov.uk/company/07805564](https://find-and-update.company-information.service.gov.uk/company/07805564)
2. [find-and-update.company-information.service.gov.uk/company/07805564/officers](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
3. [find-and-update.company-information.service.gov.uk/company/07805564/persons-with-significant-control](https://find-and-update.company-information.service.gov.uk/company/07805564/persons-with-significant-control)
4. [find-and-update.company-information.service.gov.uk/company/07805564/filing-history](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history)
5. [find-and-update.company-information.service.gov.uk/company/07805564/filing-history/MzU0NzM2OTM4OWFkaXF6a2N4/document?format=pdf&download=0](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history/MzU0NzM2OTM4OWFkaXF6a2N4/document?format=pdf&download=0)
6. [cardaq.com/about](https://cardaq.com/about)
7. [cardaq.com/feedback/firm-status](https://cardaq.com/feedback/firm-status)
8. [cardaq.com/materials/acquiring](https://cardaq.com/materials/acquiring)
9. [webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastruct](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF)
10. [webdisclosure.com/press-release/cardaq-announces-connected-payment-infrastructure-for-cross-border-business](https://www.webdisclosure.com/press-release/cardaq-announces-connected-payment-infrastructure-for-cross-border-business-transactions-Mu51f35zquN)
11. [fintelegram.com/nigeria-payment-files-cardserv-cardaq-offshore-gambling-mcc/](https://fintelegram.com/nigeria-payment-files-cardserv-cardaq-offshore-gambling-mcc/)
12. [cardaq.co.uk/blog/what-being-visa-licensed-means-for-us-and-you](https://cardaq.co.uk/blog/what-being-visa-licensed-means-for-us-and-you)
## Authorisation
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
- **Operates under:** Its own licences
The FCA authorises the firm as an electronic money institution (FRN 900088) to issue e-money and provide payment services. The firm's website states that it passports out to Gibraltar. Sister entities in Canada and the US operate under their own registrations.
| Authority | Licence or registration | Number | Held | Status | Source |
| --- | --- | --- | --- | --- | --- |
| Financial Conduct Authority United Kingdom | Authorised Electronic Money Institution | 900088 | In its own name | Active | [register.fca.org.uk ↗](https://register.fca.org.uk/s/firm?id=001b000000m4IXJAA2) |
Licences and registrations the research found, at home and abroad, as the firm and its regulators publish them. The Licences and registrations card shows the entries on the registers the directory tracks.
## Partners and safeguarding
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
- **Safeguarding:** Segregated safeguarding accountsAccording to its 2025 accounts, the firm keeps customer funds in segregated safeguarding accounts with approved credit institutions, separate from its own funds, and reconciles them daily. [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history/MzU0NzM2OTM4OWFkaXF6a2N4/document?format=pdf&download=0)
- **Payment schemes and card networks:** Visa Direct [cardaq.com ↗](https://cardaq.com/feedback/firm-status) Mastercard Direct [cardaq.com ↗](https://cardaq.com/feedback/firm-status) UnionPay Direct [cardaq.com ↗](https://cardaq.com/feedback/firm-status) Faster Payments Access not stated [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF) CHAPS Access not stated [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF) Swift Access not stated [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF) SEPA Credit Transfer and SEPA Instant Credit Transfer Access not stated [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-announces-connected-payment-infrastructure-for-cross-border-business-transactions-Mu51f35zquN)
Banks and regulated firms the firm says hold its customers’ money, issue its cards, sponsor its accounts or settle its payments, as it discloses them in its terms and notices.
## Products and markets
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
- Merchant acquiring
- Payment gateway
- Card-issuing platform
- E-money wallet
- Multi currency accounts
- FX conversion
- International money transfer
- Payouts and mass payments
It offers card acquiring directly to merchants and through payment facilitator and third-party processing models. It also offers white-label card issuing and business e-money accounts.
The firm lists the UK, Ireland, Jersey, Gibraltar and the Isle of Man as its operating jurisdictions. Its 2025 accounts state that all its turnover arose in the UK.
- **Revenue:** GBP 57.8mThis entity · 31 Dec 2025 · [annual report ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history/MzU0NzM2OTM4OWFkaXF6a2N4/document?format=pdf&download=0)
- **Sells to:** Small businesses · Enterprises · Platforms and marketplaces · Financial institutions
- **Serves customers in 5 countries:** United Kingdom · Gibraltar · Jersey · Isle of Man · Ireland
## Leadership
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
- **Chief executive:** Hugo Remi CEO and Director Confirmed 29 Sep 2026 · [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF)
- **Chief executive:** Noyan Nihat Co-CEO and Executive Director Confirmed 29 Sep 2026 · [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF)
- **Executive:** Claire Huddleston Chief Operating Officer Confirmed 28 Aug 2026 · [webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF)
- **Executive:** Geoffrey William Greer Nicholson Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
- **Executive:** Leeandra Jane Vaile Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
- **Executive:** Ajeb Singh Wahiwala Director Confirmed 29 Sep 2026 · [find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
## Recent events
Researched 29 Sep 2026 · [Sources](https://elucidate.co/directory/cardaq-limited-caqagb22#overview-sources)
1. Aug 2026
Leadership
The firm announced the appointment of Noyan Nihat as Co-CEO and Claire Huddleston as Chief Operating Officer.
[webdisclosure.com ↗](https://www.webdisclosure.com/press-release/cardaq-strengthens-leadership-team-and-expands-focus-on-payment-infrastructure-MSgLRx9imlF)
2. Aug 2026
Other
FinTelegram published whistleblower allegations about gambling-related merchant descriptors and said it had not verified them.
[fintelegram.com ↗](https://fintelegram.com/nigeria-payment-files-cardserv-cardaq-offshore-gambling-mcc/)
3. Nov 2025
Leadership
The firm appointed Dmitrijs Boiko as a director on 27 November 2025.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
4. Sep 2025
Leadership
The firm appointed Noyan Nihat and Ajeb Singh Wahiwala as directors on 8 September 2025.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history)
5. Oct 2024
Leadership
The firm appointed Leeandra Jane Vaile as a director on 31 October 2024.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/filing-history)
6. Feb 2024
Leadership
The firm appointed Geoffrey William Greer Nicholson as a director on 12 February 2024.
[find-and-update.company-information.service.gov.uk ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/officers)
Compliance-relevant events of the last three years, newest first: fines and enforcement, investigations, security incidents, licence changes, funding rounds, acquisitions and leadership changes. Each links to its source.
## Identifiers
Head-office record
- **BIC:** CAQAGB22XXX
- **How the BIC breaks down:** 1. CAQA Bank 2. GB Country · United Kingdom 3. 22 Location · reverse billing 4. XXX Branch · head office
- **Branch description:** Not recorded in the directory
- **LEI:** 9845005BQBF16C161505
- **LEI record:** [View on GLEIF ↗](https://search.gleif.org/#/record/9845005BQBF16C161505)
- **Licence no. · FCA-EMI:** 900088
- **How the LEI was matched:** BIC: Mapped to this BIC in the Swift and GLEIF BIC-to-LEI relationship file. Register entry: Matched by Elucidate on the UK company number the register gives.
- **Register-entry ID:** f73fafe7a3ba
- **Companies House no.:** [07805564 ↗](https://find-and-update.company-information.service.gov.uk/company/07805564)
## Profile
- **Type:** Payments & e-money
- **Regulation:** Prudential licence
- **Register licences:** [1 entry on 1 register](https://elucidate.co/directory/cardaq-limited-caqagb22#licences)
- **Activities:** - Payment services - E-money / stored value
- **Licensed in:** [United Kingdom](https://elucidate.co/directory/country/gb)
- **Website (register):** [www.cardaq.com ↗](https://www.cardaq.com/)
- **Country · region:** United Kingdom · Europe & Central Asia
- **Trading venues (MIC):** No MIC registered under this LEI list of 2026-09-17
- **OFAC sanctions:** No listing cites this BIC
- **EU sanctions:** No listing matched this BIC or its LEI
- **Country sanctions:** No country programme
Types come from Swift’s BIC classification, the licences on the 22 tracked registers, and the ECB and FSB bank lists. Most banks outside the euro area appear as financial institutions, because their supervisors’ registers are not tracked yet.
## Ownership and group
GLEIF relationship records
GLEIF’s relationship records name no parent for this LEI, and no group page is published for it.
## Persons with significant control
Companies House · company [07805564 ↗](https://find-and-update.company-information.service.gov.uk/company/07805564) · as at 9 October 2026
Companies House lists 1 person with significant control for Cardaq Limited: 1 company.
| Name | Type | Nature of control | Notified |
| --- | --- | --- | --- |
| [Ixxov Limited ↗](https://find-and-update.company-information.service.gov.uk/company/10575438) | Company · UK | 75–100% of shares · 75–100% of votes · Can appoint or remove directors | 5 January 2018 |
| Hugo Remi | Individual · through Ixxov Limited | 75–100% of shares · 75–100% of votes · Can appoint or remove directors | 27 February 2019 |
Companies report persons with significant control to Companies House. Elucidate has not verified them.
A person with significant control holds more than 25% of the shares or votes, can appoint or remove the board, or has significant influence or control. Dates of birth and addresses are not shown.
Matched on the Companies House number that the FCA register gives for this firm.
[See the register at Companies House ↗](https://find-and-update.company-information.service.gov.uk/company/07805564/persons-with-significant-control)
## Addresses
- **Registered address:** ONE, BARTHOLOMEW CLOSE LONDON EC1A 7BL UNITED KINGDOM
- **Operational address:** ONE, BARTHOLOMEW CLOSE LONDON LONDON EC1A 7BL UNITED KINGDOM
## ISO 20022 identification
As an agent in a Swift cross-border payment message (CBPR+)
A CBPR+ message identifies this institution by its BIC, and may add its LEI or a clearing code. CBPR+ does not allow a name and postal address next to a BIC.
- **Identified by:** BIC, with its LEI
- **Roles in CBPR+:** Any agent, including the instructing and instructed agents
### CBPR+
For cross-border payments on Swift: the BIC, with the LEI and clearing code where known
```xml
CAQAGB22XXX
9845005BQBF16C161505
```
### Full record
Every ISO 20022 element the directory holds. Base ISO 20022 allows them together. CBPR+ does not allow a name and address next to a BIC
```xml
CAQAGB22XXX
9845005BQBF16C161505
CARDAQ LIMITED
LONDON
GB
ONE, BARTHOLOMEW CLOSE LONDON EC1A 7BL
```
The BIC, name and address are as published in Swift’s BIC directory. The LEI comes from the Swift and GLEIF BIC-to-LEI file. Check them against your own records before use.
## Related institutions
### Other payments & e-money institutions in the United Kingdom
- [Stonex Financial LTD BIC IGLUGB2L Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 446717 (FCA-PSD) · also on FINTRAC-MSB · LEI 549300AWF3TOHRYL7754](https://elucidate.co/directory/stonex-financial-ltd-iglugb2l)
- [Dex International Limited · trading as DEXREMIT No BIC Payments & e-money Crypto Money service business Prudential licence United Kingdom · Licensed by FCA · 503929 (FCA-PSD) · also on HMRC-MLR, FINTRAC-MSB · LEI 9845003995D06S994R04](https://elucidate.co/directory/dex-international-limited-ff2b0c01c725)
- [Euronet Payment Services Ltd · trading as Ria Money Transfer, Ria No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 504630 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/euronet-payment-services-ltd-6f4dec33a392)
- [Instinet Europe Limited BIC ISNTGB2L Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 140822 (FCA-PSD) · LEI 213800MXAKR2LA1VBM44](https://elucidate.co/directory/instinet-europe-limited-isntgb2l)
- [Isx Financial UK LTD BIC ISFIGB22 Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 901034 (FCA-EMI) · LEI 2138007BDV9IRS8AYD07](https://elucidate.co/directory/isx-financial-uk-ltd-isfigb22)
- [Western Union Payment Services GB Limited · trading as Manning House, WU No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 816890 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/western-union-payment-services-gb-limited-0741de977896)
- [A to Z 4U Ltd · trading as SAAK REMIT, Saakpay No BIC Payments & e-money Money service business Prudential licence United Kingdom · Licensed by FCA · 570837 (FCA-PSD) · also on HMRC-MLR · No LEI mapped](https://elucidate.co/directory/a-to-z-4u-ltd-25c2ca0fa3b5)
- [Allied Wallet Limited No BIC Payments & e-money Prudential licence United Kingdom · Licensed by FCA · 900124 (FCA-EMI) · also on FCA-PSD · LEI 213800HO66BDXP716G24](https://elucidate.co/directory/allied-wallet-limited-8983cc2e32eb)
[See all →](https://elucidate.co/directory/search?type=payments&cc=GB)
Claim this profile
## Work at Cardaq Limited?
Claim this page to have it marked as verified by the bank, and to send us corrections. We verify every claim before anything changes on the page.
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Sources & method
Every value comes from a public source, such as Swift’s ISO 9362 BIC directory, GLEIF or the OFAC and EU sanctions lists. Most sources are matched on a BIC or an LEI, not on a name.
Swift GPI membership is matched on names and is indicative. A missing sanctions match does not mean that no listing applies. Always screen against the official lists.
Register entries are not screened against sanctions lists. The sanctions facts on this page cover the BIC and its LEI only.
An institution is one entry in the directory: a BIC8 in Swift’s directory, or a firm on a tracked register that holds no BIC. Licences held by an institution with a BIC are shown on its page.
[Read the methodology →](https://elucidate.co/directory/methodology)
Credits for this page
- **FCA Financial Services Register - E-Money Institutions**—Financial Conduct Authority (FCA) · [register ↗](https://register.fca.org.uk/s/) as at 25 September 2026
- **Persons with significant control**—Companies House · [source ↗](https://download.companieshouse.gov.uk/en_pscdata.html) as at 9 October 2026
- **Overview, authorisation, partners, products, leadership and events**—researched per institution by an AI model with web search, from the firm's own website, terms and filings, regulators' registers and notices, company registers and news. Licences, partners, figures, people and events link to their source, and each card shows the research date. AI research can be wrong or out of date, so check key facts at the source.
- **Images**—logos and photos from Wikimedia Commons (credited with their author and licence) or from the institution's own website, where Wikimedia has none. Elucidate keeps a copy of each; the links lead to the source and the original image. Logo: [cardaq.com](https://cardaq.com/) (official website).
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Licence and registration data are drawn from the public registers of the regulators named on each page and shown for information only; the official register is always the authority. LEIs and ownership are from GLEIF. Directory and gpi data are drawn from SWIFT's public sources. SWIFT, Swift gpi and UETR are trademarks of S.W.I.F.T. SC, Avenue Adèle 1, 1310 La Hulpe, Belgium. Elucidate is not affiliated with, endorsed by or sponsored by SWIFT or any regulator named here. Elucidate does not provide payment or other financial services.