International payments company WorldPay is to contribute $1m to a new development programme that aims to launch the next generation of payment technology companies.
The programme will be run by business tech incubator ATDC, which is based at Georgia Tech University and will focus on fintech development.
Based in a 17 story office block in midtown Atlanta, the move is expected to create around 1,200 jobs – more than the number of people working at WorldPay’s headquarters in London.
Atlanta has risen to become a financial payments hub in recent years, with seven in 10 US payments processed by Georgia-based companies every year. Four of the country’s top 20 Fintech companies are based in the state.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.