SALT LAKE CITY – February 20, 2025 – Galileo Financial Technologies, SoFi Technologies, Inc.’s Technology Platform (NASDAQ: SOFI), has launched a co-brand debit program offering, enabling brands to offer debit users access to rewards typically reserved for credit card holders. Galileo is the first to bring this type of program offering to the U.S. hospitality sector. While co-brand credit rewards programs are common, debit users have largely been left out—until now.
More than 90 percent of U.S. adults have a debit card, and 45 million U.S. adults either lack a credit history or have only minimal credit activity, preventing them from earning rewards on their everyday purchases and big-ticket items like hospitality and travel.
At a time when launching a co-branded card can drag on for more than a year, Galileo’s program cuts that down to just a few months. Brands, like those in hospitality and travel, can tap Galileo’s technology—including card issuing, processing, Cyberbank Digital and program management—without juggling multiple disconnected systems. This gets them to market faster so they can attract debit-focused consumers and offer them meaningful perks without changing how they spend.
"In the U.S. alone, people spend more than $4 trillion on their debit cards each year, but they aren't getting rewarded for most of that spend," said Derek White, Chief Executive Officer of Galileo. "That’s why we built a program that helps brands launch debit rewards quickly to capture this unmet demand.”
The program will initially focus on the hospitality and travel sectors, leveraging Galileo’s proven capabilities in powering financial solutions for global brands. By enabling airlines, hotels, and other brands to quickly offer loyalty-driven debit cards, Galileo helps boost customer engagement and drive increased spend.
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
