Galileo, a U.S.-based payments processors and program management firm, announced on Wednesday the launch of its new virtual commercial card solution, which offers fraud detection and industry-leading features, including easy API implementation and software integration, on-demand virtual card creation and real-time alerts.
According to Galileo, the Galileo Virtual Commercial Card Solution facilitates e-commerce, in-store payments, accounts payable and expense management for companies of any size, including in-store financing, online lending, insurance, healthcare, travel, and more.
“The Galileo Virtual Commercial Card is a randomly generated, single-use token used to handle a single transaction in a specific amount. The payment is processed through a card network, and may be issued on Galileo’s credit, debit or prepaid platform. The virtual card enhances security and reconciliation, cuts the cost and time required to process checks and eliminates the setup and information-sharing required for ACH payments. Galileo’s new virtual card offering enters the market at a time when virtual card usage is expanding in areas such as rewards, marketing, events, payroll and international travel.”
While sharing more details about the solution, Clay Wilkes, Galileo CEO, stated:
“Our virtual cards streamline payments operations, help reduce errors and fraud and generate new revenue through interchange on every transaction.”
Galileo also offers clients access to a robust platform, flexible architecture, extensive connectivity to payments networks and financial institutions and nearly 20 years of payments expertise.