Global Payments and FinTech Expansion
In a special edition of FinTech Focus TV, recorded live at Pay360 2025, Ian Bailey is joined by Hugo Remi, CEO of Cardaq, for a deeply insightful conversation that spans regulation, innovation, expansion, and the cultural foundations of leadership in financial technology. This episode explores how one company is not only navigating change but embracing it—delivering a blueprint for sustainable growth in FinTech. For Harrington Starr, a FinTech recruitment business committed to advancing the sector, this episode is a timely reminder of the people and principles behind the world’s most exciting technology firms.
Cardaq’s Role in Global FinTech Innovation
Hugo Remi has led Cardaq Limited since 2019, steering the company through an intense period of growth, change, and global expansion. At the heart of their success is their status as a principal member of Visa, Mastercard, and UnionPay. This gives Cardaq the unique ability to build financial bridges between the UK and the Asian region—an area that remains underdeveloped in terms of cross-border payment connectivity. Cardaq’s role is not merely operational but transformational, enabling smoother, more inclusive payment ecosystems across continents.
The conversation between Hugo and Ian begins with this global vision. Cardaq, and its consumer-facing brand Qio, is positioning itself as a long-term driver of innovation across the payments landscape. Hugo's intent is clear: to continue managing Cardaq for at least another 7–8 years, and likely beyond. It’s this level of commitment that sets the foundation for purposeful expansion.
Regulation and Professionalism in the FinTech Sector
One of the standout observations Hugo makes during the podcast is the professionalisation of FinTech. Speaking directly from the atmosphere at Pay360 2025, Hugo notes how many formerly unregulated startups are now actively seeking licences. While this does increase the number of competitors, he views it as a positive development. More regulation brings more professionalism—and that, ultimately, means a more trustworthy environment for consumers.
However, he does not ignore the complexity. Hugo explains how regulation, while necessary, can sometimes be a double-edged sword. It protects consumers, but it can also hinder innovation if applied too strictly. Regulators, like businesses, are human, and they too make mistakes. The real value lies in balance: creating frameworks that protect the user while allowing space for the industry to grow, adapt, and innovate.
This reflection is particularly relevant to FinTech recruitment. As companies evolve to meet new standards, they must build teams that understand compliance, risk, and governance. A modern FinTech firm can’t scale without staff who know how to build and maintain regulated products. Hiring for this blend of tech innovation and regulatory rigour is where Harrington Starr’s expertise is frequently called upon.
How Regulation Can Fuel Innovation in Financial Technology
While many see regulation as a hurdle, Hugo provides a compelling example of how it can be an enabler. During a panel session at Pay360 2025, he discovered that Apple had opened access to its NFC chip—a move that, while driven by regulatory pressure, represents a huge opportunity for competitors. With access to this chip, third-party wallets like Cardaq’s Qio may soon offer alternatives to Apple Pay.
This demonstrates how the right regulatory pressure can break monopolies and unlock new customer options. Such shifts mark a turning point in the FinTech world, where the power is no longer held exclusively by tech giants but shared among innovators who understand local markets and compliance frameworks.
It’s a reminder that product managers, developers, and compliance officers must all work together to navigate this landscape. FinTech staffing today isn’t just about technical skills—it’s about strategic thinkers who understand when and how to work within a regulatory framework to drive innovation.
The Digital Wallet Revolution and the Decline of Physical Cards
Another significant thread throughout this podcast episode is Hugo’s view on digital wallets and the fading relevance of physical payment cards. Early in his career, Hugo envisioned a portfolio filled with physical card-based products. But as consumer behaviour shifted, so too did Cardaq’s strategy. Now, the majority of users prefer the ease of mobile wallets. Even ATMs have adapted, many now supporting NFC-enabled withdrawals without the need for a physical card.
This change has influenced not only Cardaq’s product development but also its cost structure. Hugo mentions stopping several physical card projects simply because they no longer align with where the industry is headed. This strategic pivot reflects a maturity in leadership—one where ego doesn’t override evidence. It's this responsiveness to customer behaviour and technological change that separates thriving FinTechs from those left behind.
For those in FinTech product hiring, this is an important signal. Employers are looking for talent who not only have ideas, but who also know when to pivot, when to let go, and how to innovate for what’s next—not what’s already been.
Customer Protection and the FinTech Regulatory Divide
The conversation shifts again to the crucial topic of customer protection, particularly the difference in how banks and EMIs (Electronic Money Institutions) are regulated. In Hugo’s view, the current system puts banks under intense scrutiny while allowing EMIs significantly more flexibility—perhaps too much.
He describes how Cardaq, as a principal member of Visa and UnionPay, is required to place collaterals that scale with business growth. This adds an extra layer of financial discipline and consumer protection, one that goes beyond paper policies and enters the realm of real guarantees.
By contrast, many EMIs operate with lower share capital and minimal reserves. In the event of a major issue, Hugo argues, this could spell disaster for customer funds. He suggests the regulatory gap is one that needs addressing, particularly as consumers increasingly use EMIs for critical financial transactions.
This again has major implications for FinTech recruitment. Employers are seeking finance and compliance professionals who understand these risk structures and can help companies grow responsibly. As the market matures, recruitment will continue to focus not just on engineers and developers but on the critical risk and governance talent needed to build sustainable FinTech infrastructure.
Cardaq’s Expansion into North America and Asia
When asked what the future holds, Hugo reveals Cardaq’s international growth plans. The company has already established relationships in Canada and the United States. In fact, during Pay360, Canadian regulators approached them proactively, offering support for expansion into that market. Cardaq is also in the process of applying for a licence in New York, a state where they already have deep roots.
But expansion doesn’t stop there. Hugo discusses ambitions to enter markets such as Singapore and Hong Kong—regions with robust regulatory frameworks and substantial entry barriers. Rather than rushing, Hugo explains that the company plans to accumulate the necessary capital before entering these regions. He frames this as a sign of reputational maturity: Cardaq wants to go into new markets not just to explore, but to thrive.
This approach—careful, thoughtful, and financially sound—is the kind of mindset that businesses should be looking for in executive hires. Leaders who are patient, strategic, and informed are the backbone of successful international FinTech ventures. At Harrington Starr, we’ve seen how such leadership transforms hiring priorities, focusing not only on speed but on sustainability.
How Culture Drives FinTech Talent Retention
Every conversation about scaling a business must return to its people, and Ian Bailey ensures that Hugo’s leadership style and team-building strategy are front and centre. Hugo shares the difficult experience of losing his original IT team during COVID-19, but he also highlights how the company rebounded, growing its support team significantly in the years that followed.
What’s most striking is Cardaq’s retention rate. Since 2019, only around four or five people have left the company—a remarkable figure in a sector known for rapid turnover. Hugo attributes this to culture. Cardaq operates like a family business. Colleagues recommend friends and even bring in family members, including spouses, parents, and children.
This familial environment isn’t just anecdotal—it’s strategic. Hugo himself invests in personal relationships with staff. Whether it's being available during hard times or sending gifts to celebrate births and milestones, he makes sure to engage meaningfully. This dual commitment to performance and personal care is what builds loyalty.
It’s a model that resonates deeply in the FinTech recruitment world. Companies often ask how to improve retention, and the answer is rarely a complex benefit package. Often, it comes down to leadership, care, and culture. Hugo’s example is a masterclass in doing it right.
Reflections from the Floor at Pay360 2025
As the episode closes, Hugo encourages listeners to visit Cardaq’s website and their exhibition stand at Pay360. The in-person experience remains important to him, as it helps showcase the brand’s values, innovation, and commitment to the industry.
From the regulatory shifts shaping product design to the cultural values underpinning hiring and retention, this episode of FinTech Focus TV covers the full spectrum of what it takes to build a resilient and forward-looking FinTech business.
For us at Harrington Starr, this is exactly the kind of leadership we champion. As a FinTech recruitment business, we understand that companies like Cardaq don’t succeed by chance. They succeed through strategic thinking, cultural cohesion, regulatory awareness, and the ability to adapt to technological change.
Hugo Remi’s insights are a timely reminder that the FinTech industry isn’t just about great technology. It’s about the people behind it—and the decisions they make every day to move the industry forward.
If you’re scaling your FinTech team, looking to hire globally, or seeking to join a forward-thinking company that values innovation and integrity, Harrington Starr can help. Because, as this episode shows, success in FinTech doesn’t start with products. It starts with people.
