InComm, a global fintech and payments company based in Atlanta, will be investing $20 million to create 150 new jobs in Georgia. About two-thirds of these jobs will be at their downtown Atlanta headquarters, with the remaining in the company’s office in Columbus.
The announcement was made Tuesday by Governor Nathan Deal, who upheld InComm as an example of Georgia’s strong fintech ecosystem, which has resulted in its nickname as “Transaction Alley.”
InComm’s technology powers prepaid gift cards and other digital payment solutions. The company was formed in 1992 when founder Brooks Smith developed the point-of-sale payments technology that allowed retailers to activate prepaid cards at their register.
They now manage over $40 billion in annual transaction volume from 500,000 points of retail distribution.
“Our founder from the beginning understood that this impacted the customer,” said Scott Meyerhoff, InComm’s COO/CFO, in a panel following the announcement. “From the very beginning, this was a tech company that tried to understand how the customer thought… at the end of the day if you’re not doing something that enhances the life and the behavior of the customer, then you’re missing out.”
“InComm understands how fintech is really at the intersection of the customer experience,” said Larry Williams, President and CEO of the Technology Association of Georgia.
In 2017, InComm also acquired exclusive distribution rights of American Express’s prepaid reloadable and gift card products in the U.S., as well as the technology platform and other assets related to the American Express prepaid business. InComm is now the processor for all American Express prepaid products.
The American Express deal will add 400 employees, both from the existing business and new hires, to InComm’s total workforce, of which about 150 will work in Georgia.
Though the company has a presence in more than 30 countries, its operations in Georgia extend across the state, including a data center in Suwanee, a call center in Peachtree Corners, and offices in Alpharetta and Columbus.
Inline photo via InComm