Moderated by Rick Badie
Call us “transaction alley.” Every time you swipe a credit card, you’re contributing to a leading industry in our region. Today, an industry executive writes that 70 percent of the nation’s credit card purchases are processed in Georgia. Also, the Gwinnett Chamber president touts that county’s growing economic ties with South Korea and an upcoming business trip to East Asia.
By Tony Catalfano
Americans will spend nearly $640 billion this holiday season. More than 37 percent of purchases will be made with credit cards. Seventy percent of consumers plan to give gift cards, bringing gift card spending to nearly $30 billion. Astonishingly, 70 percent of each credit swipe is processed in Georgia, and gift cards are mostly powered by local companies.
The Financial Transaction Processing (FTP) industry provides the infrastructure for, and processing of, financial transactions that take place every time a debit card is used for