Rethinking Distribution Channels for Card-Based Financial Products

4:15 p.m. - 4:45 p.m.
When the first prepaid card appeared in-store on a J-hook, it was a revelation in card distribution. For the first time, obtaining a payment card was—from the consumer’s point of view—decoupled from a bank or a credit card company. Today, gift card malls are everywhere and represent a multi-billion-dollar business in the U.S.

Despite this incredible success, the distribution channels for payment cards hasn’t continued to evolve in a significant way in the past 15 years. Consumers get their debit cards from their banks, their credit cards through banks or credit card companies and their gift cards at gift card malls or online. But, all this is about to change.

As the tech behind fintech’s leading companies, Galileo has put its innovation engine to work to create new distribution channels for all kinds of payment cards, giving consumers numerous ways to obtain first-class financial services with features that include funding payments cards with invested assets (vs. nonperforming cash deposits), interest rates many times higher than those typically offered by banks and up to $2.5 million in FDIC deposit insurance.

Clay Wilkes, Galileo CEO, will share his insights on the burgeoning opportunities for fintechs, banks, financial advisors, employers and others to explore new payment card distribution channels as well as the significance of Galileo’s alignment with the developer community to build innovation on top of innovation.