Barry McCarthy shares Deluxe’s digital transformation and Atlanta’s innovation in Fintech at Insights on Leadership Event – SaportaReport
Each year, the Metro Atlanta Chamber of Deputies (MAC) hosts the Delta Air Lines Insights on Leadership lecture series, which invites Atlanta’s most influential and key business leaders to prominent discussions.
MAC President and CEO Katie Kirkpatrick recently sat down with Deluxe President and CEO Barry McCarthy at the Deluxe Fintech Innovation Center. McCarthy is an entrepreneur, internet, cloud and mobile payment pioneer, named to his position at Deluxe in November 2018. He is also the author of Small business revolution, how owners and entrepreneurs can succeed and executive producer of the Deluxe Emmy nominees Small business revolution show on Hulu and Prime Video.
During his time as President and CEO, McCarthy has led the transformation of Deluxe from a senior check and business form writer to a “Trusted Payments and Business Technology” company, which processes nearly $ 3 trillion in annual payment volume, or about 15% of US GDP.
McCarthy emphasized that this is just the beginning, and the company will continue to strive to become a future-oriented company with strategies and full departments that are committed to being digital first.
«Early next year, our payment business will be the company’s largest [department] which is a pretty big milestone for a company that is 107 years old, McCarthy said. “For the first time ever, we will have a business that is bigger than our old business.”
Deluxe has 4 million active small business customers and more than 4,000 customers from financial institutions. Their network also includes about 300 distributor franchises that serve local businesses.
“We have a fantastic digital AP business, digital AR business and an HR payroll business for small businesses that we support with 150,000 already accepting credit cards,” said McCarthy.
The company was founded in St. Paul, Minnesota in 1915 and in the years that followed transformed from a check printer into a payment and computer company. Deluxe opened a new technology center in Sandy Springs and joined the Metro Atlanta region’s cluster of Fintech companies.
“We knew we were going to be a payment data company, which means we had to be in the payment capital of the world. [Atlanta] is truly the world’s Fintech capital, McCarthy said.
‘At this very junction [in metro Atlanta]about 80% of the world’s electronic payment transit companies are headquartered here. “
In addition to location, McCarthy and the Deluxe team enjoyed access to a supportive higher education ecosystem, as well as local and state governments here in Atlanta. Many schools in the University System of Georgia offer degree programs for Fintech students that open the door to more jobs and expansion at Deluxe.
“The University System of Georgia has gone so far as to create a whole set of capabilities and degrees that support Fintech,” McCarthy said. “So graduates come out of the whole system with capabilities ready for companies like ours.”
Asked about the biggest risk he has taken in his career, McCarthy points to becoming CEO and president of Deluxe.
“I [was] in a pretty good place, I did not see but [open] to opportunities, McCarthy said. ‘It would have been much easier just to stay where I was, but I. [wanted] the opportunity to do something and create lasting change. “
McCarthy and the Deluxe team look forward to the future and look forward to the exciting events ahead with partnerships, especially with Porsche. Deluxe will have its own company race car in a global car race that will soon arrive in Atlanta.
“We are the first venue for the Porsche Carrera Cup North America, which is a global car racing series taking place in September here in Atlanta,” said McCarthy.
For more information on the Metro Atlanta Chamber and Delta Air Lines Insights on Leadership, visit
