Central Payments expands processing services relationship with Galileo Financial Technologies

Long-term contract extension ensures Payment options for Embedded Finance and Fintechs

SALT LAKE CITY, April 13, 2023–(BUSINESS WIRE)–Central Payments, the architect of the award-winning Open*CP Fintech API Marketplace^Sm and ‘REAL’ Banking-as-a-Service (BaaS) provider, announces a long-term renewal of processing services with Galileo Financial Technologies, LLC, a leading financial technology company independently owned and operated by SoFi Technologies, Inc. (NASDAQ: SOFI ). The extended agreement ensures that programs delivered through Open*CP enjoy robust and scalable processing capabilities well into the future.

“We refer to Open*CP as an API marketplace because we are committed to enabling choice for users among the best industry providers,” said Eric Cotton, Executive Vice President, General Manager of Central Payments. “Galileo was the first payment processor in the ecosystem because of our long working relationship and shared vision for the future of embedded payments and financial technology.”

Today, Open*CP runs large programs with enterprise companies that have launched transformative financial products. Cotton adds, “Our contract extension ensures that Galileo will continue to be an essential part of our success in driving large, embedded finance programs for a growing list of enterprise customers.”

“As a leading enabler of BaaS and embedded finance, Galileo, and companies like Central Payments, are transforming the way financial services are delivered,” said Seth McGuire, Chief Revenue Officer at Galileo. “Our API-forward approach and scalable, extensible platform enable innovative brands to build the next generation of financial products to meet customers when they need them.”

About Galileo Financial Technologies

Galileo Financial Technologies, LLC is a financial technology company that enables fintechs, financial institutions, 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 corporate customers, Galileo supports physical and virtual payment card issuance, mobile push delivery, tailored and differentiated financial products and more, across industries and geographies.

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About central payments

Central payment is Make financial experiences better® by offering payment technology and issuing solutions for fintech and embedded finance businesses. The company’s Open*CP Fintech API Marketplace^Sm is one of the only ‘REAL’ banking-as-a-service (BaaS) payment platforms built by fintech bankers with issuance capabilities built-in. Open*CP’s vertical integration and its native-to-the-cloud technology are the drivers responsible for its rise to the fastest growing prepaid card issuer from 2015 to 2020*. The company also runs Falls Fintech, its startup fintech accelerator and produces Fintech Brews & News, a podcast dedicated to bridging the gap between banking, startups and the entire fintech industry. Visit Central-Payments.com and follow on LinkedIn for more information.

^* Source: The Nilson Report

See the source version at businesswire.com: https://www.businesswire.com/news/home/20230413005143/en/

Contacts

Melissa Otten, 605-354-5451, [email protected]
Alissa Clayton, 647-390-9085, [email protected]