Galileo reveals payment cards solution

Friday 26 June 2020 13:03 CET | News

Galileo has announced the full launch of Galileo Instant, a frictionless solution for gig-economy, marketplace, ecommerce, fintech, and other businesses.

The solution is meant for those businesses that want the speed and convenience of creating debit cards through a single point of contact: Galileo. As such, by using Instant, qualified businesses can launch their debit card programmes as early as 14 days — start to finish. 

While all types of businesses can use Instant to create branded debit cards issued by a financial institution, the Instant solution is particularly useful for the US businesses paying millions of 1099 workers. Instant works with banks to standardise the debit card issuing process, and reduces the cost of entry and time to market compared to traditional solutions. Early adopters of Instant looking to achieve cost saving and new revenue opportunities through Instant’s interchange revenue sharing plan represent a variety of use cases, including: 

  • Content Creation Platforms — Create physical debit cards to instantly pay revenue share or subscription fees;
  • Gig Employees and Contractors — Create physical debit cards to instantly pay employees on a per gig basis;
  • Startup Fintechs — Create bank accounts and live debit cards to demonstrate digital banking account features to investors.

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Keywords: Galileo, payments , debit cards, financial institutions, Interchange, digital banking, accounts, US
Categories: Payments & Commerce
Countries: United States
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Payments & Commerce

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