Business News Live Oak Square 2

Published on January 20th, 2016 |

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Financial technology firm to headquarter in Buckhead with 140 jobs

Buckhead reportedly has landed the U.S. headquarters for global financial technology firm Merchant e-Solutions, which will create more than 140 jobs and will locate at Live Oak Square office builing, according to a filing with Invest Atlanta, the city’s economic development agency.Merchant e-Solutions logo

Merchant e-Solutions, a subsidiary of Sao Paulo, Brazil-based Cielo S.A., enables merchants to securely do business in multiple channels including online, mobile, and in-person, according to the filing, according to a story by the Atlanta Business Chronicle.

The company processes more than $17 billion in annual transaction volume and supports 150 currencies including all major credit cards, debit, and alternative payment solutions, according to the ABC report.

The company, which considered several states including California for the relocation, could receive $140,000 in economic development grants. The project could involve 20,000 square feet to 30,000 square feet of office space, the ABC’s real estate source said.

Merchant e-Solutions will invest more than $5.7 million and pay an average annual wage of $86,610, according to the filing with Invest Atlanta.

“We are excited to make Georgia our home,” said Merchant e-Solutions chief executive officer Tom Bell. “The Atlanta market brings us closer to key business partners and allows us to tap into the amazing talent of this rich financial technology epicenter as we establish and expand our local presence.”

According to the ABC report, Atlanta is a financial technology hub. “More than 70 percent of all U.S. payments are processed in Georgia’s ‘Transaction Alley,’ according to the American Transaction Processors Coalition. More than 60 percent of the industry’s companies are based in metro Atlanta, supporting more than 40,000 jobs in the state” the ABC report said.

(To read the Atlanta Business Chronicle story, click here.)

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