Galileo Financial Technologies, a subsidiary of SoFi Technologies, Inc., and Mastercard on Wednesday (May 4) unveiled a multiyear strategic alliance focused on “accelerating digital transformation and improving access to financial opportunities for unbanked and underserved segments in Latin Americas and the Caribbean.” The partnership between Galileo and Mastercard “will enable Latin American FinTechs and issuers to build and launch digital financial services using their combined capabilities and infrastructure,” according to a press release. The companies will distribute various Mastercard products and services to support their customers, the press release says. Galileo is now a Preferred Technology Partner and fast issuer processor within the Mastercard Partner Network, Mastercard Engage, in Latin America and the Caribbean. Internet and smartphone penetration across Latin America has reached nearly 70% and continues to grow, per the press release. Read the full PYMNTS article through the link in the comments below. ?? #fintech #fintechnews #banking #digitalbanking #inclusion #financialinclusion #payments #paymentservices #galileo #bankingservices #financialtechnology #financialservices #mastercard
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