Companies powered by Galileo’s industry-leading, API-based payments processing platform continue to make headlines. From award recognitions to podcasts to new valuations and unicorns, Galileo’s roster of leading fintechs and challenger banks showcase innovation and commitment.
• MoneyLion, a new Galileo partner, just launched RoarMoney, an advanced mobile banking experience with a contactless mobile wallet. MoneyLion was recently recognized in Aite Group’s 2020 Inaugural Innovations Awards for the Best Digital Multiproduct Offering.
• Several payments processing clients from Galileo’s roster of heavyweight fintechs topped PYMNTS.com’s Digital Banking Apps Ranked list, including KOHO, Monzo and Revolut.
• TransferWise confirmed its new $5 billion valuation, a 43 percent increase since May 2019, following its secondary share sale.
• Varo joined the Bank On It podcast as well as the 11:FS Fintech Insider Podcast to talk about the company’s plans and the future of fintech.
• Qube Money launched a banking solution where consumers activate their money on a debit card in real time before each purchase.
• BitPay introduced the first Mastercard prepaid card for cryptocurrency in the U.S.
• Aspiration launched an initiative, called Plant Your Change, for customers to round up purchases and contribute those funds toward planting trees.
• Paysafe achieved CarbonNeutral® status as part of its ongoing commitment to the environment and corporate responsibility.
• Digital remittance platform Remitly joined the exclusive unicorn club with an $85 million funding round that pushed its valuation to $1.5 billion.
• Shopping and delivery service Shipt saw a 278 percent increase in revenue in Q1 2020 versus 2019 and hired double the shoppers, supporting the gig economy and consumer needs during the pandemic.
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US debit spenders increased travel, dining spending this spring despite headwinds
US debit cardholders spent more on dining and travel as the weather warmed, boosted in part by tax refund season, per Galileo’s Q1 2026 Debit Spend Index. Dining and fast food transactions grew 18% over the quarter. Debit travel spending value surged 37%, outstripping transaction volume growth by 15 percentage points. This indicates that consumers are spending more per booking through add-ons like experiences, longer trips, and the impact of rising jet fuel passed along to consumers. That could intensify after the elimination of super-low cost carrier Spirit keeping fares competitive. (Read the full article [here](https://docs.google.com/document/d/1j_3bROViUajR8-H4cX2yfZQwXzgmglzK33BtcM0yhjQ/edit?usp=sharing).)
The Spring Surge: New Galileo Debit Spend Index Charts Q1 Spend and the Year Ahead
American consumers spent cautiously on debit through January and early February before early tax refunds and spring weather sparked a March spending surge, according to the inaugural Galileo Debit Spend Index.
Why Gen Z’s Debit Card Push is Eating Into Credit Card Profits
For people worried about the economy and dealing with affordability issues, one option could be to tuck that high interest rate credit card aside and reach for a trusty debit card instead. To uncover the latest debit card trends, CardRates recently sat down with Paul Dunning, Vice President of Business Development at Galileo Financial Technologies, a fintech firm owned by SoFi. He explained why Gen Z consumers are turning to debit cards and expecting rewards, the compelling case for debit card rewards, and the appeal of debit cards for the debit-first consumer.
Half of Consumers Have Chosen One Brand Over Another Because Paying or Getting a Refund Was Easier
Consumer demand for financial services embedded within brand apps is outpacing brands’ ability to deliver, with most executives recognizing the gap. New research from Galileo Financial Technologies, soon to become SoFi Technology Solutions, found that 80% of brand executives say they plan to launch integrated financial services, but only 20% have done so thus far. The 2026 Galileo Integrated Financial Services Research Report, based on surveys of more than 2,000 U.S. consumers and 150 senior executives, shows that while consumers are already using features like saved cards, rewards, and instant refunds inside brand apps, most brands have yet to launch these capabilities.
Brand Executives Fear They’re Losing Customers to Rivals With In-App Financial Tools, Galileo Research Finds
Half of consumers have chosen one brand over another because paying or getting a refund was easier
