header icon
header icon
header icon
header icon
header icon

Expansion into Mexico and Major Strategic Partnership with Klar

April 30, 2020

Rigorous certification enables Galileo to accelerate the launch of consumer payment services by innovative fintech Klar.

Galileo, the trusted technology partner that powers world-leading fintech businesses, announced its Mastercard certification in Mexico and new partnership with a major fintech company in the Mexican market. These two events further strengthen Galileo’s expansion into the region.

Galileo is the first API software innovator to secure Mastercard certification and to launch as part of Mastercard’s Fintech Accelerate program in Mexico, which makes it a pioneer in the market. Galileo is certified with the Mastercard Mexico Domestic Switch (MxDS) for Signature, PIN and ATM transactions, as well as settlement and chargeback processing.

By meeting the standards required for certification, Galileo’s API-centric platform enables fintechs launching in Mexico to quickly and easily build and launch payment services that meet the needs of consumers in the region.

Building on this partnership with Mastercard, Galileo announced its first strategic alliance in the Mexican market: Klar, a leading Mexican challenger bank, has selected Galileo to provide the technology backbone to deliver services in Mexico.

“Not only is Mexico one of the most influential and innovative fintech markets in Latin America, but it is also one of the Fintech hubs with the highest growth potential worldwide,” said Tory Jackson, Galileo’s in-country manager for Mexico.

”Our Mastercard certification and partnership with Klar reinforce our commitment and efforts to bring innovative payment solutions for consumers in Mexico.”

Klar is leading the democratization of financial services in Mexico by offering alternatives to traditional credit cards and debit services, without the traditional banking fees. Partnering with Galileo, Klar delivers secure services via a mobile app and a secure credit card. As a well-backed startup, Klar recently completed Mexico’s largest seed funding round, amounting to $57.5 million.

“Our partnership with Galileo is yet another big step towards building world-class financial products tailored to the Mexican market,” said Stefan Moller, CEO, Klar.

Last month, Galileo opened its Mexico City offices, located nearby Mastercard Mexico’s headquarters in the financial district.

“Mexico has solidified its position as Latin America’s fintech leader with the government’s recent enactment of pioneering legislation promoting technological innovation,” said Pablo Cuaron, Mastercard Mexico. “Mastercard’s partnership with Galileo, which offers powerful and customizable payments infrastructure, will allow fintechs in Mexico to go to market faster by leveraging Mastercard’s Fintech Express program while meeting the rising consumer demands for digital financial services. This is just another example of how Mastercard is leading the way in partnering with new players to transform the way Mexicans pay.”

July 9, 2024

Galileo Launches Wire Transfer Capabilities

Offering in-demand wire services enable fintechs to acquire and retain more customers

See More
June 11, 2024

Consumers Are Crowdsourcing Their Financial Services, While Banks Risk Losing Primary Status

Galileo Consumer Banking Report by Datos Insights uncovers the latest consumer banking behaviors and preferences

See More
May 14, 2024

Galileo Highlights its Comprehensive Financial Technology Platform at the Chile Fintech Forum 2024

This is Galileo's first event in Chile following the acquisition of the Argentine unicorn Technisys. As a pioneer in financial technology with 23 years in the industry, the firm offers unparalleled experience and scalability.

See More
April 29, 2024

Galileo Tops 150 Million Accounts in Another Strong Quarter

SoFi’s technology platform, which comprises Galileo Financial Technologies and the Technisys cloud-based core banking services platform, surpassed 150 million total enabled accounts saw continued year-over-year net revenue growth in the first quarter of 2024.

See More
April 16, 2024

Rapid Finance Taps SoFi and Galileo to Enable Small Business Financing

Learn about the new Rapid Access Mastercard by Rapid Finance, in collaboration with Galileo and SoFi Bank. Tailored for small businesses, this card offers flexible, instant access to funds, empowering SMBs with the financial solutions they need to thrive.

See More