At A Glance
The API standard for card issuing
Salt Lake City, Utah USA
Fintechs, fintechs entering the US, businesses needing to embed payments as an ingredient to their business plan, FIs and investment firms
Supply Chain Processes:
API-based enterprise payments platform; payments processing; card issuing
Galileo, the API standard for card issuing, is a global payments platform that powers world-leading fintechs, financial services and investment firms by removing the complexity of payments.
What We Do & How We Do It
Based on our flexible API-centric platform, Galileo makes it fast and easy for businesses of every type and size to innovate and deliver amazing user experiences to their customers. This includes businesses that want to embed payments as an ingredient of their business model vs. their primary business model. Leading UK-based fintechs using Galileo’s deep experience and connectivity to support their entry into the US market include Monzo, Paysafe, Revolut and TransferWise.
Galileo backs up its robust open APIs and free-to-use simulator sandbox, which developers use to innovate, test and innovate without limitation in a secure environment, with a suite of solutions to further reduce the complexity of payments. These solutions include extensive connectivity to additional payments platforms; sophisticated dispute handling, chargeback and settlement processes; artificial intelligence-based fraud detection and prevention; and on-demand advanced analytics to support business reporting and decisioning.
In addition, Galileo offers Galileo Instant Issuing—a lightning fast, frictionless option for fintechs and other businesses to open bank accounts and issue debit cards to power digital payment solutions, with no long-term contracts or high startup fees—and Galileo Money+–empowering financial advisors to offer clients their own white-labeled bank accounts, debit cards and mobile apps.
The Galileo Platform is uniquely architected for reliability, scalability and security, not silos. The platform is fully integrated (so we process debit, credit, prepaid, “virtual” card and digital transactions seamlessly) to handle the flow of funds with speed and precision for smooth, seamless settlement.
Key to our platform are our open APIs—connecting you to the most powerful and sophisticated capabilities in fintech and payments—and free-to-use simulator sandbox—where financial services developers can write, execute and test application code in a secure environment. As an API-centric platform created with developers in mind, we’ve embedded tools that cut development time to almost zero and make developers’ work fast and intuitive—like instantly creating single-click code fragments in popular programming languages. Using our tools and powerful APIs, developers can create bank accounts and issue physical and virtual payments cards with only a few lines of code.
Galileo’s key open APIs include:
- Galileo Program Master API to create sophisticated, integrated financial programs quickly and easily—even for developers new to payments.
- Galileo Real-Time Events API, so you always know what’s happening in your portfolio.
- Galileo Authorization Controller API to participate in advanced decisioning for your customers’ transaction activity.
Galileo Financial Technologies Raises $77 Million Series A Led by Accel (https://www.galileo-ft.com/newsroom/galileo-raises-77-million-series-a-led-by-accel/)
Already profitable Galileo crosses $26B of annual processing volume in September as global growth accelerates
October 17, 2019 – Galileo, the company whose APIs power the next generation of banking products globally, announced its first institutional funding round today—a $77 million investment led by venture capital firm Accel with participation from Qualtrics Co-Founder & CEO Ryan Smith. The company, which is already profitable and growing rapidly, plans to use the funds to accelerate growth, including expansion into Latin America, the UK and Europe, and for continued product expansion.
Galileo Financial Technologies Expands to San Francisco; New York (https://www.galileo-ft.com/newsroom/galileo-financial-technologies-expands-to-san-francisco-new-york/)
Expansion supports fast growth; dual focus on fintech and finance
November 8, 2019 – Galileo, the company that powers world-leading fintech companies, financial institutions and investment firms, today announced it has opened offices in both San Francisco and NYC.
Galileo Launches Galileo Instant Issuing (https://www.galileo-ft.com/newsroom/galileo-launches-galileo-instant-issuing/)
Galileo and Mastercard collaborate on powerful tool to speed digital payments solutions to market.
November 21, 2019 – Galileo today announced Galileo Instant Issuing, a lightning fast, frictionless option for fintechs and other businesses to open bank accounts and issue debit cards to power digital payment solutions.