Galileo Launches Payment Method Switch to Help Banks, Fintechs, and Brands Stay Top of Wallet Through Easier Bill Payments
SALT LAKE CITY--(BUSINESS WIRE)-- Galileo Financial Technologies, SoFi Technologies, Inc.'s Technology Platform (NASDAQ: SOFI), has launched Galileo Payment Method Switch, powered by Atomic. This product enables banks, fintechs and brands to make it easier for people to update their default payment method—including debit cards, credit cards, and bank accounts—across leading merchants, subscription services, utility providers, and digital wallets like Venmo or PayPal, all in one place.
Clients can embed Galileo Payment Method Switch into their own apps, positioning their card or account as the most visible and convenient option for recurring bills and everyday payments.
Share
Clients can embed Galileo Payment Method Switch into their apps, positioning their own issued card or account as the most visible and convenient option for recurring bills and everyday payments–helping them become their customers' preferred choice as subscription-based and automatic payments continue to rise. Global recurring payment transactions are projected to exceed $15.4 trillion in 2027.
According to Atomic, people switch an average of three to five payments during their first visit, linking approximately $420 in recurring monthly spend. These usage patterns underscore growing demand for fast, easy ways to manage payments—especially when cards expire or accounts change.
Galileo Payment Method Switch lets people update their payment method in seconds. With a single integration–also compatible with Galileo Direct Deposit Switch –clients can speed up launch timelines and give people an easy way to update payment methods, directly from their app.
Atomic provides the merchant connectivity to update information across billing systems, while Galileo manages the secure exchange of card and account details, helping clients simplify payment management for their customers, drive account primacy, and earn more interchange revenue.
'Galileo Payment Method Switch allows banks, fintechs and brands to help customers easily manage bill payments without leaving an app they already trust,' said Prashant Shah, Vice President, Product Management at Galileo. 'This solution keeps people spending in a branded environment, creating new recurring revenue streams, which are proven to be stickier, more predictable and scalable. We're pleased to expand our role as the one-stop shop for supporting modern payments.'
Benefits for Consumers
Easy Updates in One Place: Change or update payment details–such as a new debit or credit card, or a different bank account– for thousands of popular merchants, subscriptions, and utility providers all from one banking, fintech, or brand app.
More Control and Flexibility: Choose which card or account to use for each bill, giving them more control over how they pay.
Fewer Payment Errors: Avoid missed payments or mistakes with fast, secure payment updates–no need to manually enter card or account details on multiple merchant websites.
Benefits for Banks, Fintechs and Brands
Account Primacy and Increased Revenue: Boost customer stickiness by allowing them to set a default card or account for recurring bills and subscriptions, thereby increasing recurring payments and interchange revenue whenever a card is used.
Faster Setup: One-time integration with simple steps that help customers get started quickly and stay connected.
Stronger Loyalty: Making payments easy builds lasting customer relationships.
'We're helping financial services providers stay top of wallet by delivering a more seamless experience for their customers,' said Jordan Wright, Co-founder and CEO of Atomic. 'Our continued partnership with Galileo enables institutions to make it easier for people to update their payment methods—driving increased spend and deeper engagement.'
To learn more about Galileo Payment Method Switch, visit docs.galileo-ft.com/pro/docs/payment-method-switch.
About Galileo Financial Technologies
Galileo Financial Technologies, LLC and certain of its affiliates collectively comprise a financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI) that enables fintechs, financial institutions, and emerging and established brands to build differentiated financial solutions that deliver exceptional, customer-centric experiences. Through modern, open APIs, Galileo's flexible, secure, scalable and fully integrated platform drives innovation across payments and financial services. Trusted by digital banking heavyweights, early-stage innovators and enterprise clients alike, Galileo supports issuing physical and virtual payment cards, mobile push provisioning, tailored and differentiated financial products and more, across industries and geographies.
About Atomic
Atomic is the market leader in growing account primacy and enabling financial connectivity that drives action. They are trusted by over 195 financial institutions and fintech firms, including 13 of the top 20 fintech firms and 8 of the top 10 financial institutions. Atomic serves as the essential bridge between consumer data and financial solutions by allowing unparalleled access to payroll, HRIS systems, and merchants, facilitating a range of financial services including direct deposit switching, income and employment verification, payment method updating, and subscription management. For more information, visit https://atomic.financial.
©2025 Galileo Financial Technologies, LLC. All rights reserved.
Galileo Financial Technologies, LLC is a technology company, not a bank. Galileo partners with many issuing banks to provide banking services in North and Latin America.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Associated Press
23 minutes ago
- Associated Press
RYVYL Announces Conversion for Remainder of 8% Senior Convertible Note; Successfully Completes Process of Delevering Balance Sheet
SAN DIEGO, CA, June 06, 2025 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ('RYVYL' or the 'Company'), a leading innovator of payment transaction solutions leveraging electronic payment technology, announced the securityholder of its remaining 8% Senior Convertible Note ('Note'), has converted the entire outstanding principal balance of $4.0 million and accrued interest of $136,000 into 7.1 million shares of common stock. 'We've pursued an anti-dilutive strategy to restructure our balance sheet, and this final debt to equity conversion successfully completes that process,' said George Oliva, CFO of RYVYL. 'In January 2025, we redeemed our Series B Convertible Preferred Stock with a liquidation value of $53.1 million and $14.3 million of the Note for a payment of $13.0 million, which avoided over 90 million shares of potential dilution and converted over $50 million of additional paid in capital from Preferred Stock to Common shareholders.' About RYVYL RYVYL Inc. (NASDAQ: RVYL) was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business, and peer-to-peer payment transactions around the globe. By leveraging electronic payment technology for diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants, and consumers around the globe. Cautionary Note Regarding Forward-Looking Statements This press release includes information that constitutes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on the Company's current beliefs, assumptions and expectations regarding future events, which in turn are based on information currently available to the Company. Such forward-looking statements include statements that are characterized by future or conditional words such as 'may,' 'will,' 'expect,' 'intend,' 'anticipate,' 'believe,' 'estimate' and 'continue' or similar words. You should read statements that contain these words carefully because they discuss future expectations and plans, which contain projections of future results of operations or financial condition or state other forward-looking information. By their nature, forward-looking statements address matters that are subject to risks and uncertainties. A variety of factors could cause actual events and results to differ materially from those expressed in or contemplated by the forward-looking statements. Risk factors affecting the Company are discussed in detail in the Company's filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws. IR Contact: David Barnard, Alliance Advisors Investor Relations, 415-433-3777, [email protected]
Yahoo
25 minutes ago
- Yahoo
Could BigBear.ai Stock Turn a $25,000 Investment Into $1 Million?
offers a wide range of artificial intelligence solutions. While it does possess some attractive potential, its business hasn't taken off -- at least, not yet. 10 stocks we like better than › Many investors see a lot of potential in (NYSE: BBAI). The data analytics company is sometimes compared to Palantir Technologies (NASDAQ: PLTR) in that it can serve many industries, has secured government contracts, and is utilizing artificial intelligence (AI) to expand upon its opportunities. But is that comparison really justified? Could -- with its small-cap size of just $1 billion or so today -- become the next hot growth stock? And if so, does it have the potential to turn a $25,000 investment into $1 million over the long term? For a $25,000 investment in to grow to $1 million or more, the stock would need to grow by 40 times. That would mean its market cap needs to reach more than $45 billion. To earn such a valuation, the company would need to show significant improvements on both its top and bottom lines. The good news is that many companies are spending heavily on AI in order to enhance their decision-making capabilities and improve overall efficiency. There are serious opportunities for to capitalize on those trends in the long run. The problem is that while offers various AI solutions (including predictive intelligence, cybersecurity, modeling, and digital identity management), that hasn't translated into significant revenue growth. The company's growth rate over the past few years has averaged just under 4%. This year, management is forecasting revenue between $160 million and $180 million. The low end of the forecast would be almost flat relative to the $158 million it achieved in 2024. If it hits the top end of the range, its revenue will grow by around 14%. While that's decent, it's not the type of AI-powered growth that investors may be expecting or that may be necessary for the stock to take off. has been securing defense-related contracts similar to those pursued by Palantir, which has been a key partner for governments around the world. Most recently, announced a collaboration with Hardy Dynamics, which provides the U.S. Army with "advanced AI capabilities." But while they may offer somewhat comparable services, that doesn't mean that these two businesses are the same. What has made Palantir a hot AI stock is the company's relentless growth. It has been expanding both its commercial and government businesses at impressive rates. During the first three months of 2025, Palantir's U.S. commercial revenue grew by 71% year over year, and its U.S. government revenue was up by 45%. meanwhile, may not even generate 10% growth across its entire business this year. Further, while Palantir is profitable, is nowhere near breaking even. It posted a net loss of $62 million in the first quarter -- more than the $35 million in revenue it brought in. Until can show that it can generate the type of impressive growth that Palantir has achieved, there's little reason to expect that it can become a top growth stock. While does possess potential, so do many of the numerous other companies that are also offering AI solutions. Ultimately, it's the results that matter. Given its low valuation, may seem like a stock worth taking a chance on. After all, if its growth rate does accelerate, the stock could soar. If it were to simply get back to its 52-week high of $10.36, it would more than double in value from where it is today. But at the same time, the stock could also end up plummeting back toward its 52-week low of just over $1.16 if it continues to underwhelm investors with its results. When it comes to such a volatile stock, it's hard to predict which direction it will go. So while may be an intriguing stock to watch, it's not going to be a suitable holding for most investors. And there's little reason at this stage to expect that it has the potential to be a millionaire-making investment. Before you buy stock in consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $668,538!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $869,841!* Now, it's worth noting Stock Advisor's total average return is 789% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 David Jagielski has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Palantir Technologies. The Motley Fool has a disclosure policy. Could Stock Turn a $25,000 Investment Into $1 Million? was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
29 minutes ago
- Yahoo
Why CoreWeave, Inc. (CRWV) Skyrocketed Today
We recently published a list of . In this article, we are going to take a look at where CoreWeave, Inc. (NASDAQ:CRWV) stands against other Wednesday's best-performing stocks. CoreWeave rallied for a fourth consecutive day on Wednesday, jumping 8.39 percent to close at $163.10 apiece following the unveiling of record-breaking performance results using Nvidia Corp.'s latest Grace Blackwell chips. In a statement, CoreWeave, Inc. (NASDAQ:CRWV) said that it used 2,496 Nvidia GPUs on its AI-optimized cloud platform, making its submission the largest-ever benchmarked under MLPerf. A close-up of a digital cloud, signifying the expansive reach of the software-as-a-service solution. CoreWeave, Inc. (NASDAQ:CRWV) said that the test was 34x larger than the only other submission from a cloud provider. 'AI labs and enterprises choose CoreWeave because we deliver a purpose-built cloud platform with the scale, performance, and reliability that their workloads demand,' said CoreWeave, Inc. (NASDAQ:CRWV) Chief Technology Officer Peter Salanki. 'These MLPerf results reinforce our leadership in supporting today's most demanding AI workloads,' he added. The unveiling followed the company's new $7-billion deal with Applied Digital Corporation (NASDAQ:APLD), which covered two 15-year lease agreements, under which the latter will deliver 250 megawatts of critical IT load to host its artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
