Galileo’s industry-leading payment processing platform is powering fintechs, challenger banks and companies around the world. Check out some of our clients’ recent media coverage, highlighting new valuations and several unicorns, international expansion and partnerships, award recognitions and more.
Six Galileo clients made the list of the world’s 10 most valuable challenger banks (CB Insights).
Ualá announced its first international expansion from Argentina to Mexico (Bloomberg).
Robinhood, both powered by Galileo, secured new funding and reinforced their positions as the two most valuable U.S. consumer fintechs. Robinhood’s recent Series G extension round valued the company at $11.7 billion (Reuters).
Purple is using Galileo Instant to launch its new fintech to serve people who are unbanked and people with special needs (FinTech Futures). More than 1,000 companies have signed up for Galileo Instant since its launch.
BitPay was named Frost & Sullivan’s 2020 Global Alternative Payments Company of the Year (Cointelegraph).
Greenlight Financial Technology’s $215 million Series C funding round propelled it to unicorn status with a $1.2 billion valuation (Crunchbase News). Greenlight recently partnered with Chase to launch Chase First Banking, a new checking account to help children get a head start on banking (PYMNTS).
Blue Penguin Payments expanded its partnership with Galileo (FinTec Buzz).
New clients BitPay, Klar, MoneyLion and Remitly helped bolster Galileo’s significant growth in the first half of 2020.
Samsung, Mastercard and SoFi, with support from Galileo, launched Samsung Money by SoFi, a mobile-first money management account and branded debit card (FinTech Magazine).
Finexio secured $23 million in its latest funding round to simplify, optimize and monetize the last mile of the corporate accounts payable process through its cloud-based AP payments platform (Crowdfund Insider).
Remitly’s CEO recently addressed how fintech and digital payments are pushing banks to accelerate tech adoption (PaymentsSource).
As the API standard for card issuing and digital banking, Galileo’s powerful payment processing platform offers the easiest way to create sophisticated payment card programs and digital banking solutions. For more news and insights, follow us on LinkedIn and Twitter.
Is SoFi’s Galileo the Future of Embedded Finance?
The embedded finance sector is experiencing unprecedented growth, projected to continue growing at a compound annual growth rate (CAGR) of 16.8% through 2029. Leading the charge is Galileo, the B2B financial services arm of SoFi Technologies.
Debit Rewards Surge as Consumers Shift Spending Preferences
Debit rewards programs, which were significantly reduced by as much as 50% immediately after the Durbin Amendment capped fees on debit card payments, are now seeing new life. This comeback is fueled by the continued rise of debit as a preferred spending method.
Galileo Transforms SoFi Into the Backbone of Embedded Finance
Galileo, the B2B financial services arm of SoFi Technologies, Inc. SOFI, is emerging as a key engine of growth in the rapidly expanding embedded finance market. By offering seamless payment and lending integrations, Galileo enables financial and non-financial firms to embed banking capabilities directly into their platforms.
Virtual Cards Are Gaining Ground. Here’s What Banks Must Do Next
This shift highlights growing comfort with digital-first payments. But while usage is climbing, many banks and financial institutions still struggle to explain why virtual cards matter and how consumers can benefit from them.
One-Tap Payment Switch Gives Banks the Edge in Account Primacy
Prashant Shah, VP of product management at Galileo Financial Technologies, challenged the PYMNTS audience to remember a recent bill paying experience where updating a subscription meant having to chase down Netflix or Amazon — even the local power company — to log into each individual site to update payment details.
