Former Payoneer CEO Scott Galit Joins Faye’s Team of Advisors

Today Faye, the highest-rated travel protection platform for Americans, is announcing that former Payoneer (PAYO) CEO Scott Galit has joined the company’s advisory board. Galit is in good company, adding to an already impressive roster that includes former VP of Sales at AIG Travel Guard, Rick Ensign and Mike Nelson, former CEO of Global Travel Insurance at Allianz (also a Faye investor).

The move aligns with Faye’s continued expansion into fintech, positioning the company to revolutionize the travel experience with innovative financial solutions tailored to globetrotters. The company was the first to introduce a digital wallet that enables instant reimbursements on eligible claims and common travel snafus – via Faye Wallet.

In the next year, the award-winning travel platform plans to launch new features that enable travelers to get the most bang for their buck when traveling. This will include smarter budgeting and payment solutions for those adventuring abroad. 

Scott Galit, Advisor, Faye: “Faye has transformed boring travel insurance into an indispensable travel companion, resulting in the company leading in retention, tech, and unparalleled customer care amid a sea of legacy providers. I’m thrilled to partner with the team to support their rapid growth as they reimagine the market and solve complex travel problems for consumers.”                       

Elad Schaffer, Co-founder & CEO, Faye: “With travel as a major spending category, we see a significant opportunity to reduce financial stress before, during and after travelers’ trips as it relates to budgeting, payments, savings and removal of unnecessary fees. 100% of our customers already have access to Faye Wallet, which they use to receive instant reimbursements on eligible claims straight to their phones. With Scott’s experience leading fintech companies, we’re excited to take Faye Wallet to the next level as we continue blending fintech and travel solutions to offer our customers greater peace of mind.”

Faye’s venture deeper into fintech will complement the core benefits the company launched with: the ability to protect your trip in as little as 60 seconds, quick and digital claim filing in-app (along with the ability to track your claim’s status to completion), fast claims reimbursements into your Faye Wallet for immediate use, and the ability to access travel support experts 24/7 wherever you are in the world – weekends and holidays included.