Asia Paytech Trending

Financial Services of All Kinds to Launch Their Own Programs With EnKash’s CardX Suite

EnKash, an Indian all-in-one spending management and corporate cards company, has launched a Card API Suite, ‘CardX’. The suite will come with ‘plug-and-play’ integration that will enable non-fintech/fintech companies and banks/NBFCs to launch their own card/BNPL/reward programs, in a hassle-free manner.

CardX is also designed to be developer-friendly and can enable multiple use cases of credit card, prepaid cards and wallets. It comes with a complete card management suite and integrated functionalities such as real-time KYC solution, fraud and authorisation controls, reward management, multiple credit products like EMI, BNPL and supply chain finance, data analytics and insights, among other essential elements. Using EnKash’s Open API Stack, businesses can issue credit and prepaid cards to their customers, users, agents, employees, and others, for their respective use cases.

What differentiates CardX from other global market players is its low-code modern stack and innovative solutions around KYC and compliance, which helps companies go-to-market faster. CardX also comes with a curated set of partners that clients can leverage for their customer communication, operations and customer service setup. CardX is equipped to enable card launch on any of the global networks, and is currently integrated with SBM Bank as its strategic issuing partner, with more banks in the pipeline.

With plans for global expansion in geographies like the US, Europe and the Middle East, EnKash had raised $20million in April 2022, in a Series-B round from Ascent Capital, Baring India and Singapore-based White Ventures. With CardX’s launch, the brand is eyeing to disrupt the global embedded finance market and enable businesses to launch their own Fintech product lines.

Speaking of the launch, EnKash co-founder, Naveen Bindal said, “We are thrilled to enter the ‘Banking Infra Services’ space with the launch of ‘CardX’. The world is poised to see accelerated growth of card and financial products as customer adoption increases. Being one of the earliest entrants in the corporate cards and spend management sector, we bring strong expertise that our clients can leverage in developing their own card and other financial programs. CardX will help companies use a customisable API to develop their fintech product lines. It will also help businesses to scale up through better customer reach and engagement, with the launch of their card offerings. We are already seeing strong interest amongst fintechs and digital marketplace-based companies to empower their customers with cards. Our vision is to make the launch of cards and other fintech products, as simple as a website launch.”

With CardX, EnKash aims to become the preferred API partner for companies willing to launch their own fintech offerings, either as their main product or as an additional product line. Their key target market would be NBFCs, fintechs, consumer internet companies, retail chains and other consumer-facing industries.


  • Francis is a journalist and our lead LatAm correspondent, with a BA in Classical Civilization, he has a specialist interest in North and South America.

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