(Bloomberg) -- Visa Inc. plans to open a new office in Atlanta next year as part of an expansion in the city.
The outpost, at 1200 Peachtree St. in the Midtown Atlanta district, will have employees performing a range of functions, with a focus on technology and client services, Visa said in a statement Wednesday. Several company leaders will relocate to Atlanta, where Visa's staff will grow to about 1,000 employees over the next few years, the firm said. San Francisco-based Visa had roughly 20,500 employees last year.
Atlanta's “Transaction Alley” is home to a slew of transaction companies, with more than 70% of all U.S. payments processed annually through Georgia, according to the American Transaction Processors Coalition, a group representing firms including American Express Co. and Mastercard Inc.
“As Visa continues to grow, it is critical we have a strong local presence in areas where we do meaningful business,” Kim Lawrence, head of the U.S. market at Visa, said in the statement. “Growing our presence and workforce in Atlanta will enable Visa to serve our clients more effectively, support talent development and contribute to the long-term success of local communities.”
Visa plans to work with small businesses, universities and technology groups in the area to increase supplier diversity and give local communities greater access to financial resources, according to the statement.
©2021 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
