Senate Resolution 883, passed during the 2016 Georgia General Assembly session, created the Joint
Study Committee on Incentives for Financial Technologies and the Payment Processing Industry. The group
held three meetings from August through December, working to ensure Georgia maintains its leadership in the
industry with the help of the state’s resources, as it faces competition from other domestic and global cities
investing in talent and technology; and seeking to recruit Transaction Alley companies away.

The study committee was co-chaired by Sen. Beach (R-Alpharetta) and Rep. Ron Stephens (R-Savannah), with
appointed members Rep. Greg Morris (R-Vidalia), Rep. Bruce Williamson (R-Monroe), Sen. Burt Jones
(R-Jackson), Sen. John Albers (R-Roswell), and Commissioner Chris Carr and Dawiet Zamadie from the Georgia
Department of Economic Development (GDEcD).

ATPC Members and staff were invited to present on numerous occasions on the impact that “Transaction
Alley” has on Metro-Atlanta and Georgia. The ATPC presenters included: H. West Richards; Scott Meyerhoff
(InComm); Christopher Justice (CenPOS); Simon Haslam (Elavon); Lara Hodgson (NOW Account Network
Corporation); Sir Peter Radcliffe (London’s Global Ambassador for Payments Industry); and Keith Hartford
(WNA). The Committee quickly recognized the importance of preserving the “Transaction Alley” moniker, and
to do such, the state would need to address the need for skilled workers – with a focus on higher education
curriculum pipelines — and recognize the necessity for continued support of the FinTech industry. And Sir Peter
Radclife, London’s Global Ambassador for the Payments Industry, spoke to the study committee on the ongoing
efforts to roll out the P20 initiative – and the members of the Committee were very positive in their reception
to such a concept.

The final report was released in January of 2017, which achieved the goal of educating the Study
Committee – along with members of the General Assembly – about the tremendous impact that the industry
has on Georgia’s economic development and workforce. The report also outlined a series of broad steps that
the General Assembly could consider to better support the needs of the growing FinTech and payments
industries in Georgia.