SALT LAKE CITY, UT - JANUARY 28, 2021 - Galileo Financial Technologies, the API standard for card issuing and digital banking and a subsidiary of Social Finance, Inc. (SoFi), announced today it signed a record number of new deals during 2020, strengthened existing partner and client relationships, and is working with numerous new partners as they prepare to launch their programs over the coming months of 2021.
Galileo signed a total of 41 new enterprise partners in 2020, up from a record-setting 31 new partners in 2019. Galileo continues to be the first choice for industry-leading players, including Dave.com, a neobank on a mission to create financial opportunity that advances America’s collective potential, by helping its customers budget, avoid overdraft fees, find work and build credit; MoneyLion’s RoarMoney, a demand deposit account that meets consumers’ financial needs as they evolve, from faster access to their funds to safe and secure contactless payment options; Robinhood’s cash management feature; Albert, with a $100 million Series C raise this week, which is building a new financial service to democratize how people manage, save and invest their money using automated features, while providing personalized advice from a team of human financial experts; and TomoCredit, the inclusive credit card for the next generation of consumers lacking credit history.
A testament to the continued premium service Galileo provides, the company also renewed 99% of revenue for agreements rolled over during 2020. In 2020, Galileo expanded into Latin America, opening an office in Mexico City and certifying Mastercard’s local Mexican domestic switch.
Galileo has agreements with seven LatAm-based companies, including many of Mexico’s leading neobanks, and is currently powering two groundbreaking fintechs as they advance financial inclusion across Latin America, including fintech innovator Klar, a 100% digital, transparent, free and secure alternative to traditional debit and credit services in Mexico, and Ualá whose successful entry into Mexico was powered by Galileo.
In Mexico, the Argentina-based fintech juggernaut offers a mobile app, linked to a digital account, and an international debit card with no issue, renewal or maintenance costs. 2020 also marked the launch of Galileo Instant, a fast, low-cost way for early-stage companies, such as fintech startups, gig-economy, e-commerce and marketplace companies, to enable digital payments.
Galileo Instant also provides a solution for businesses that want to expand opportunities by embedding payments into their business model. More than 1,500 businesses have registered through the Instant Dashboard, including Purple, a mobile banking app for people with disabilities, and Neggster, a youth-focused banking app. Both have recently moved into full production. Click here to read this news release on the wire.
Seu programa de fidelidade pode estar ignorando seus melhores clientes
Por décadas, a maioria dos programas de fidelidade foi construída em torno de cartões de crédito. Esse alinhamento fazia sentido em um momento em que o crédito rotativo era a principal forma de estruturar lealdade e recompensas. Mas o comportamento de pagamento dos consumidores mudou, e a Geração Z está tornando essa mudança ainda mais evidente.
SoFi e Mastercard firmam parceria para habilitar liquidação com SoFiUSD na rede global de pagamentos da Mastercard
A stablecoin da SoFi, totalmente lastreada em dólares americanos, permitirá liquidação na rede da Mastercard, incluindo para o SoFi Bank, N.A. A Galileo, plataforma tecnológica da SoFi, estará entre as primeiras a oferecer aos seus clientes e aos seus bancos emissores a opção de liquidar transações usando SoFiUSD A Mastercard Multi-Token Network buscará suportar o SoFiUSD e ajudar a expandir a interoperabilidade entre ativos digitais e formas tradicionais de dinheiro
Southwest e Galileo levam recompensas direto para o débito
A plataforma da Galileo integra emissão, processamento e gestão de programas, permitindo que marcas não financeiras como a Southwest lancem cartões co-branded de forma mais rápida. A economia das recompensas no débito é diferente do crédito, mas o CFO da Galileo, Bill Kennedy, afirmou que as eficiências tecnológicas e a lealdade mais profunda tornam o modelo sustentável.
United Airlines lança o cartão de débito MileagePlus Rewards que acumula milhas ao gastar e poupar
Este novo cartão permite que os membros do MileagePlus acumulem milhas por meio de compras do dia a dia e saldos de conta elegíveis. Disponível agora sem taxas mensais para quem mantém um saldo médio diário de US$ 2.000 ou mais, os membros do MileagePlus podem solicitar o cartão de débito com recompensas em UnitedDebitRewards.com.
A Southwest Airlines, impulsionada pela Galileo (a plataforma de tecnologia da SoFi), lançou o Rapid Rewards Debit Card
A Southwest Airlines, impulsionada pela Galileo (a plataforma de tecnologia da SoFi), lançou o Rapid Rewards Debit Card, permitindo que clientes que usam débito ganhem pontos em compras do dia a dia para trocar por voos.
