Qube Money, an up-and-coming fintech company, has formed a partnership with Salt Lake City-based Galileo Financial Technologies to deliver a banking solution where consumers activate their money on a debit card in real time before each purchase to create financial awareness and intentional spending. This relationship enhances the consumer’s ability to spend and save their money with purpose.
Galileo, the API standard for card issuing and digital banking, is a global banking and payment platform that powers world-leading fintechs by removing the complexity from payments. Using the power of Galileo’s APIs, Qube Money’s consumers gain access to a smart banking solution where financial health is at the core of spending via physical and virtual cards and cardless money movement.
“Galileo’s APIs deliver the speed and real-time decision-making necessary to support Qube Money’s technology,” stated Qube co-founder Shane Walker.
“It’s rewarding to put the power of the Galileo API-based platform to work to support another Utah-based fintech innovator,” commented Galileo CEO Clay Wilkes. “We look forward to powering Qube as it rolls out its solution to help consumers budget and spend wisely.”
Qube Money is pleased to add Galileo as its payment platform, as it brings added benefits to its customers.
ABOUT QUBE MONEY.
Qube Money builds banking solutions to make spending and saving with purpose an easy, seamless part of life. Qube’s mission is to align people’s use of money with their purpose for money and create financial fulfillment. Ultimately, Qube empowers people to experience more abundance, more joy, and more peace with money.
ABOUT GALILEO FINANCIAL TECHNOLOGIES.
Salt Lake City-based Galileo, the API standard for card issuing and digital banking, is a global payment platform that powers world-leading fintechs, financial services, and investment firms by removing the complexity of payments. Galileo makes it fast and easy for businesses to innovate and deliver amazing user experiences.
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.
