Qube Money, a U.S.-based fintech startup, announced on Tuesday it has formed a partnership with Galileo Financial Technology. Qube Money reported that through the duo will deliver a banking solution that will allow customers to activate their money on a debit card in real-time before each purchase. This in return will create financial awareness and intentional spending.
“Using the power of Galileo’s APIs, Qube Money’s consumers gain access to a smart banking solution where financial health is at the core of spending via physical and virtual cards and cardless money movement.”
Speaking about the collaboration, Qube Money Co-Founder, Shane Walker, stated that Galileo’s APIs deliver the “speed and real-time” decision-making that is necessary to support the Qube Money technology. Galileo CEO, Clay Wilkes, added:
“It’s rewarding to put the power of the Galileo API-based platform to work to support another Utah-based fintech innovator. We look forward to powering Qube as it rolls out its solution to help consumers budget and spend wisely.”
Founded in 2000, Galileo claims it has grown to become one of the latest payment processors and program managers in North America. It also says it is the only payments innovator that applies tech and engineering capabilities to empower fintechs and financial institutions to unleash their full creativity to achieve their financial goals.
The partnership with Qube Money comes after SoFi acquired Galileo for $1.2 billion in both cash and stock. Galileo also recently received its Mastercard certification in Mexico and has formed a new partnership with Mexican fintech Klar.