Galileo’s powerful payment processing platform fuels the most innovative fintechs, neobanks and companies worldwide. Check out a recent roundup of our clients in the news, highlighting new product launches, company expansions and new investments.
• BitPay announced its U.S.-based BitPay Wallet app users can provision the BitPay Card to their Apple Pay mobile wallet (Business Insider)
• Clair launched a Mastercard debit card to provide free wage advances to hourly workers (Yahoo! Finance)
• Oxygen CEO Hussein Ahmed wrote a featured article on the origins and value of fintech (Coruzant Technologies)
• TransferWise announced it’s renaming to Wise after it expanded to build a cross-border payments network (The Fintech Times)
• Mobility Capital Finance (MoCaFi) announced its capital investment from Mastercard to expand affordable financial service to underserved communities (Finextra)
• Ahead Financials CEO Anu Shultes was recognized on GV’s Impact List, highlighting 25 exceptional women for International Women’s Day (gv.com)
• Koho recently secured $70 million CAD in Series C financing to scale digital banking services (Fintech Finance)
• First Boulevard has raised $5M for its digital bank aimed at Black America (TechCrunch)
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.
