Global Rewards Taps Galileo to Scale B2B Payments
February 8, 2022
Galileo Financial Technologies, the leading global financial technology company owned and operated independently by SoFi Technologies, Inc. (NASDAQ: SOFI), today announced that business-to-business payments innovator Global Rewards is using Galileo’s cloud-based technology platform and powerful APIs to usher in a new era of growth for the company.
Global Rewards, which is on a mission to simplify corporate disbursement and employee spend, helps businesses leverage automation, digital payments and holistic reporting for greater insight and control of their finances. The Lakewood, N.J.-based company’s B2B payment solutions, which include single-use virtual cards and reloadable virtual and physical cards, also help clients turn a traditional cost center (accounts payable) into a new revenue stream. Historically, Global Rewards’ business model has helped clients save upwards of $90,000 in annual check processing and labor costs while also earning as much as $600,000 in cashback.
Global Rewards selected Galileo’s processing platform, open APIs and experienced team to provide the flexibility, scalability and reliability for Global Rewards commercial Mastercard products, which are issued by The Bancorp Bank.1