'Brexit' may be having direct impact on business in Atlanta - CBS46 News

'Brexit' may be having direct impact on business in Atlanta

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(Source: WGCL) (Source: WGCL)

The Atlanta economy is booming with several different industries, including online payments.

It's giving Atlanta the nickname of "Transaction Alley," and the political instability in the United Kingdom -- you may know it as "Brexit" -- may be having a direct impact on the industry here at home.

Jordan Lawrence and Lewis Howard have made themselves right at home here in Atlanta. And it all happened so quickly, right about the time British residents voted to exit the European Union.

For them, it is official -- Atlanta is another home for their U.K. and Amsterdam-based company, Payments and Cards Network. They've taken up office space here and Howard will soon depart Amsterdam to live here full time, probably somewhere near the Beltline.

Think about how the Hollywood industry has moved to Georgia. The payments processing industry is quite similar. It's moving here as well, but from the U.K. And with all of the political instability in that part of the world right now, being here in Atlanta has become quite attractive for British businesses.

H. West Richards is executive director of the American Transaction Processors Association, an organization based in Atlanta with the purpose of helping European financial tech companies find a home here.

More than 100 fin-tech companies already are in Atlanta, and because of so many unknowns with Britain's exit from the European Union, Richards expects more companies will come here.

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