Payments Expert Steve Boyer Joins Galileo Processing as EVP of Business Development

SALT LAKE CITY, Oct. 27, 2011 /PRNewswire/ -- Galileo Processing, Inc., the leading processor of next-generation prepaid, credit, debit and alternative financial services technologies, today announced the addition of Steve Boyer as Executive Vice President of Business Development. Boyer, who boasts nearly three decades of experience in payments automation, will be primarily responsible for assisting existing and future partners leverage Galileo's platform to create advanced payment solutions for their customers. Another key focus for Boyer will be the intersection of payments into social media, gaming, loyalty, cloud computing and mobile commerce.

"We are excited to bring to the Galileo team Steve's expertise in delivering highly creative solutions for commercial clients, retailers and financial institutions," said Clay Wilkes, Galileo CEO. "Steve will bolster Galileo's thought leadership in the payments arena, and his creativity will augment Galileo's efforts to grow through innovation."

In 1993 Boyer co-founded the concept of a declining balance closed-loop card for merchants, which later became known as the gift card. After the idea picked up speed with merchants and consumers, it was converted into a business – ValueLink, which still prospers in the gift card business today. In 2010 it is estimated that retail merchants issued in excess of a hundred billion dollars in closed-loop gift cards in North America.

More recently, Boyer was Chief Revenue Officer for HOPS, a SaaS-based business intelligence and data processing software firm. From 2001-2008 Boyer was SVP of Business Development at Wild Card Systems, eFunds Corporation (EFD), and then briefly at Fidelity National Information Systems (FNIS). While at the above firms Boyer worked with large open-loop prepaid and payment automation programs at American Express, Wachovia, ADP Corporation, MBNA, Bank of America, Capital One, Chase Bank and others.

"My career has allowed me the privilege of creatively solving business problems in payments for merchants, financial institutions, and commercial clients," said Boyer. "I look forward to working with the Galileo team to leverage the company's amazing relationship-based platform to create business solutions for an entirely new generation of payments challenges."

Galileo has been in operation for nearly ten years, founded on the commitment to continuously innovating to provide reliable, secure and feature-rich payment processing services. Today, Galileo is the recognized leader in advanced payment processing solutions, supporting more than 700 programs.

About Galileo Processing, Inc.

Galileo Processing, Inc. is a privately held, next-generation financial payment processing company based in Salt Lake City, Utah. Its expertise, service and platform make Galileo the industry leader for advanced prepaid, debit and hybrid credit applications. Galileo offers its clients advanced payment processing technologies, a state-of-the-art client and customer call center, business intelligence, analytics and program management services. For more information, visit www.galileoprocessing.com

SOURCE Galileo Processing, Inc.