Galileo Financial Technologies Expands into Five Latin American Markets

Published 6 months ago

Galileo Financial Technologies, LLC, a SoFi Technologies, Inc. subsidiary, has achieved Mastercard certification to simultaneously provide services in five new Latin American countries. This expansion comes after the fintech company’s successful foray into Colombia in March 2022.

A Mastercard Engage Partner in Latin America

As a Mastercard Engage partner, Galileo is currently delivering services in Argentina, Brazil, Chile, Perú, and Uruguay. These services assist issuers, financial institutions, and fintechs in offering issuer processing services, including the provision of virtual and physical credit, debit, and prepaid cards. Mastercard Engage facilitates collaboration with Mastercard, accelerating product innovation and access to Mastercard’s global network, technology, and resources.

Rising Demand for Online Banking in Latin America

The increasing need for online banking in Latin America signals a demand for instant access to financial services, personalized interactions, and digital banking interfaces. Through its strategic partnership with Mastercard, Galileo’s expertise, experience, and innovative technology are expected to play a crucial role in the growth and development of digital transactions in the region, both financial and non-financial.

Commitment to Digital Financial Services

Obtaining certification across additional markets allows Galileo to further its dedication to hastening the digitization of financial services for consumers and corporations. Kiki del Valle, Executive Vice President of Market Development, Latin America and the Caribbean at Mastercard, stated the need for digital payment solutions in Latin America is growing. Mastercard’s thorough certification process assures short and long-term benefits to local customers.

The Importance of Payment Digitization

Tory Jackson, Director of Strategy and Development for Galileo Latin America, emphasized that payment digitization is a top priority for businesses. This is driven not only by end-user demands but also by the expanding pool of innovators in Latin America. With this certification, businesses across the new markets will receive the support needed to modernize payment services with flexible, faster, and frictionless development times, all while building strong customer trust.

About Galileo Financial Technologies and Mastercard

Galileo Financial Technologies, LLC enables fintechs, financial institutions, and emerging and established brands to develop unique financial solutions that offer outstanding customer-centric experiences. Galileo operates in North America and Latin America, working with major fintech companies in these regions to streamline B2B payments through flexible APIs.

Mastercard is a global technology company in the payments sector, committed to connecting and powering an inclusive, digital economy that benefits everyone by making transactions safe, simple, smart, and accessible.

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