More than 70 percent of all credit card transactions are now being processed out of metro Atlanta and that means security is a top priority.
Channel 2 Anchor Craig Lucie went to Mercedes-Benz stadium for the FinTech South event this week, where he learned local companies are employing thousands here in Georgia and around the world.
“We dominate this industry globally,” said Larry Williams.
Larry Williams is the president and CEO of the Technology Association of Georgia or TAG. He organized the FinTech South event at Mercedes-Benz Stadium because he says financial technology has become one of the most important industries in Georgia.
“Seventy percent of all credit card transaction are processed here in Georgia,” Williams said.
Cyber companies from all over the world are in town, but many of them are based in the metro like Trust Stamp. They’re a startup from the Atlanta Tech Village, and they’re using artificial intelligence to send secure emails to avoid massive security breaches.
“Instead of hitting the send button, you will hit a send secure button and our technology will prompt you to do a facial scan and once we verify the email, it will be encrypted and sent to the recipient,” said Alex Valdes of Trust Stamp.
These numbers give you an idea as to why they are having the event at Mercedes-Benz Stadium. Georgia Fintech companies are employing more than 37,000 people in our state, 130,000 globally, and they are handling more than 128 billion transactions per year.
One of them is Midtown Atlanta-based Payscape.
“We employ several hundred people. We process billions worth of transactions, and we have seen an ecosystem revolve from what used to be a cottage industry around us,” said Jeremy Wing who is the CEO of Payscape.
Wing says the ideas coming out of FinTech South event are changing the way we pay.
“Credits cards will be the things that go away, and it will all be built into your phone and be Uber-like,” said Wing.