Many of Galileo’s fintech and challenger bank clients are making headlines and taking action to show their support during this tough time. Below is a roundup highlighting how our clients—like Aspiration, BlueVine, Paysafe and SoFi—are doing their part to make an impact during the COVID-19 global pandemic.
• Americans Are Spending Their Coronavirus Stimulus Checks on Food, Gas and Paying Back Friends (CNBC)
• Aspiration Donates 3,000 Reusable Face Shield to LAC-USC Medical Center (LinkedIn)
• 34 Fintech Companies Aiding in Coronavirus Relief (Andreessen Horowitz)
• Combating COVID-19: Contactless Payments on the Doorstep (Paysafe)
Galileo is proud to be the API standard for card issuing programs and fintech innovation for these and other clients worldwide.
Your Loyalty Program Might Be Ignoring Your Best Customers
For decades, most loyalty programs were built around credit cards. That alignment made sense at a time when revolving credit was the primary lens through which loyalty and rewards were structured. But consumer payment behavior has changed, and Gen Z is making that shift especially visible.
SoFi and Mastercard Partner to Enable SoFiUSD Settlement Across Mastercard’s Global Payments Network
SoFi’s fully reserved U.S. dollar stablecoin will support settlement across the Mastercard network, including for SoFi Bank, N.A. Galileo, SoFi’s technology platform, will be among the first to offer its clients and their issuing banks the choice to settle transactions using SoFiUSD The Mastercard Multi-Token Network will look to support SoFiUSD, help expand interoperability between digital assets and traditional forms of money
Southwest and Galileo Bring Rewards to Debit’s Doorstep
Galileo’s platform integrates issuing, processing, and program management so non-financial brands like Southwest can launch co-branded cards faster. The economics of debit rewards differ from credit, but Galileo CFO Bill Kennedy said technology efficiencies and deeper loyalty make the model sustainable.
United Airlines Launches MileagePlus Debit Rewards Card that Earns Miles for Spending and Saving
This new card allows MileagePlus members to earn miles through everyday purchases and qualifying account balances. Available now with no monthly fees with an average daily account balance of $2,000 or greater, MileagePlus members can open the debit rewards card at UnitedDebitRewards.com
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card
Southwest Airlines, powered by Galileo (SoFi’s tech platform), has launched the Rapid Rewards Debit Card, letting debit-first customers earn points on everyday purchases to redeem against flights.
