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                                                        OMB APPROVAL
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                                              OMB Number:             3235-0145
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                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                               


                                  SCHEDULE 13G
                    Under the Securities Exchange Act of 1934

                               (Amendment No. _)*



                              Global Payments Inc.
-------------------------------------------------------------------------------
                                (Name of Issuer)



                          Common Stock, no par value
-------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                    37940X102
                  --------------------------------------------
                                 (CUSIP Number)




                                December 31, 2005
-------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)


Check the  appropriate box to designate the rule pursuant to which this Schedule
is filed:

[X] Rule 13d-1(b)

[_] Rule 13d-1(c)

[_] Rule 13d-1(d)


*The  remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.


The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the  Securities  Exchange  Act of
1934 ("Act") or otherwise  subject to the liabilities of that section of the Act
but  shall be  subject  to all other  provisions  of the Act  (however,  see the
Notes).




Persons who respond to the collection of information  contained in this form are
not required to respond  unless the form displays a currently  valid OMB control
number.

SEC 1745 (1-06)                                      

                                Page 1 of 7 pages

<PAGE>


-----------------------
  CUSIP No. 37940X102                 13G
-----------------------

------------------------------------------------------------------------------
 1.   Name of Reporting Person
      I.R.S. Identification No. of above Person

           Goldman Sachs Asset Management, L.P.


------------------------------------------------------------------------------
 2.   Check the Appropriate Box if a Member of a Group
                                                                (a) [_]
                                                                (b) [_]

------------------------------------------------------------------------------
 3.   SEC Use Only
 


------------------------------------------------------------------------------
 4.   Citizenship or Place of Organization
 
           Delaware

------------------------------------------------------------------------------
                     5.   Sole Voting Power
 
     Number of                 3,334,804

      Shares        ----------------------------------------------------------
                     6.   Shared Voting Power
   Beneficially
                               0
     Owned by
                    ----------------------------------------------------------
       Each          7.   Sole Dispositive Power
 
    Reporting                  4,301,342

      Person        ----------------------------------------------------------
                     8.   Shared Dispositive Power
       With:
                               0

------------------------------------------------------------------------------
 9.   Aggregate Amount Beneficially Owned by Each Reporting Person
 
           4,301,342

------------------------------------------------------------------------------
10.   Check if the Aggregate Amount in Row (9) Excludes Certain Shares

                                                                    [_]

------------------------------------------------------------------------------
11.   Percent of Class Represented by Amount in Row (9)

           5.4%

------------------------------------------------------------------------------
12.   Type of Reporting Person

           IA

------------------------------------------------------------------------------

                                Page 2 of 7 pages


<PAGE>


Item 1(a).         Name of Issuer:
                   Global Payments Inc.

Item 1(b).         Address of Issuer's Principal Executive Offices:
                   10 Glenlake Parkway
                   North Tower
                   Atlanta, Georgia 30328
 
Item 2(a).         Name of Persons Filing:
                   Goldman Sachs Asset Management, L.P.

Item 2(b).         Address of Principal Business Office or,  if none, Residence:
                   32 Old Slip
                   New York, NY  10005

Item 2(c).         Citizenship:
                   Delaware

Item 2(d).         Title of Class of Securities:
                   Common Stock, no par value

Item 2(e).         CUSIP Number:
                   37940X102

Item 3.            If this statement is filed pursuant to Rules 13d-1(b) or
                   13d-2(b) or (c), check whether the person filing is a :

          (a).[_]  Broker or dealer registered under Section 15 of the Act
                   (15 U.S.C. 78o). 

          (b).[_]  Bank as defined in Section 3(a)(6) of the Act 
                   (15 U.S.C. 78c).

          (c).[_]  Insurance company as defined in Section 3(a)(19) of the Act
                   (15 U.S.C. 78c).

          (d).[_]  Investment company registered under Section 8 of the
                   Investment Company Act of 1940 (15 U.S.C. 80a-8).

          (e).[X]  An investment adviser in accordance with 
                   Rule 13d-1(b)(1)(ii)(E);
 
          (f).[_]  An employee benefit plan or endowment fund in accordance     
                   with Rule 13d-1(b)(1)(ii)(F);

          (g).[_]  A parent holding company or control person in accordance 
                   with Rule 13d-1(b)(1)(ii)(G); 

          (h).[_]  A savings association as defined in Section 3(b) of the
                   Federal Deposit Insurance Act (12 U.S.C. 1813);

          (i).[_]  A church plan that is excluded from the definition of an
                   investment company under Section 3(c)(14) of the 
                   Investment Company Act of 1940 (15 U.S.C. 80a-3);

          (j).[_]  Group, in accordance with Rule 13d-1(b)(1)(ii)(J).


            

                   

                                Page 3 of 7 pages

<PAGE>

Item 4.            Ownership. *

          (a).     Amount beneficially owned:
                   See the response(s) to Item  9 on the attached cover page(s).

          (b).     Percent of Class:
                   See the response(s) to Item 11 on the attached cover page(s).

          (c).     Number of shares as to which such person has:

                   (i).     Sole power to  vote or to direct  the vote:  See the
                            response(s) to Item 5 on the attached cover page(s).
                            
                   (ii).    Shared power to vote or to direct the vote:  See the
                            response(s) to Item 6 on the attached cover page(s).
                            
                   (iii).   Sole power to  dispose or to direct  the disposition
                            of:  See the response(s) to  Item 7  on the attached
                            cover page(s).

                   (iv).    Shared power to dispose or to direct the disposition
                            of:  See the response(s) to  Item 8  on the attached
                            cover page(s).

Item 5.            Ownership of Five Percent or Less of a Class.
                             Not Applicable

Item 6.            Ownership of More than Five Percent on Behalf of Another 
                   Person.
                             Not Applicable

Item 7.            Identification  and  Classification  of the Subsidiary  Which
                   Acquired the Security Being Reported on by the Parent Holding
                   Company.
                             Not Applicable

Item 8.            Identification and Classification of Members of the Group.
                             Not Applicable

Item 9.            Notice of Dissolution of Group.
                             Not Applicable

Item 10.           Certification.  
                   By signing  below I certify that, to the best of my knowledge
                   and belief,  the  securities  referred to above were acquired
                   and are held in the ordinary  course of business and were not
                   acquired  and are not  held  for the  purpose  of or with the
                   effect of changing or  influencing  the control of the issuer
                   of the  securities  and were not acquired and are not held in
                   connection with or as a participant in any transaction having
                   that purpose or effect.

--------------------------
     * In accordance with Securities and Exchange Commission ("SEC") Release No.
34-39538  (January 12, 1998),  this filing reflects the securities  beneficially
owned by  Goldman  Sachs  Asset  Management,  L.P.  ("GSAM  LP").  GSAM  LP,  an
investment advisor, disclaims beneficial ownership of any securities managed, on
GSAM LP's behalf, by third parties.



                                Page 4 of 7 pages

<PAGE>



                                    SIGNATURE



            After reasonable inquiry and to the best of my knowledge
            and belief,  I certify that the information set forth in
            this statement is true, complete and correct.


Date:  February 8, 2006


                                GOLDMAN SACHS ASSET MANAGEMENT, L.P.


                                By: /s/ Andrea Louro DeMar
                                   ----------------------------------------
                                Name:   Andrea Louro DeMar
                                Title:  Attorney-in-fact



                                Page 5 of 7 pages


<PAGE>


 
                                INDEX TO EXHIBITS



Exhibit No.   Exhibit
-----------   -------

99.1          Power of Attorney, dated January 24, 2006,  relating to Goldman
              Sachs Asset Management, L.P.



                                Page 6 of 7 pages

<PAGE>


                                                                  Exhibit (99.1)



                                POWER OF ATTORNEY


     KNOW ALL PERSONS BY THESE  PRESENTS  that GOLDMAN  SACHS ASSET  MANAGEMENT,
L.P. (the "Company")  does hereby make,  constitute and appoint each of Roger S.
Begelman, Yvette Kosic, Andrea Louro DeMar, John M. O'Rourke, Felicia J. Rector,
Michael T.  Seeley,  and Stephen  Wong,  (and any other  employee of The Goldman
Sachs Group,  Inc. or one of its affiliates  designated in writing by one of the
attorneys-in-fact),  acting  individually,  its true  and  lawful  attorney,  to
execute and deliver in its name and on its behalf  whether the Company is acting
individually or as representative of others,  any and all filings required to be
made by the Company under the Securities Exchange Act of 1934, (as amended,  the
"Act"),  with respect to securities which may be deemed to be beneficially owned
by  the   Company   under  the  Act,   giving  and   granting   unto  each  said
attorney-in-fact  power and authority to act in the premises as fully and to all
intents and purposes as the Company might or could do if  personally  present by
one of its authorized signatories, hereby ratifying and confirming all that said
attorney-in-fact shall lawfully do or cause to be done by virtue hereof.

     THIS POWER OF ATTORNEY  shall  remain in full force and effect until either
revoked  in  writing  by the  undersigned  or until  such time as the  person or
persons to whom power of  attorney  has been  hereby  granted  cease(s) to be an
employee of The Goldman Sachs Group, Inc. or one of its affiliates.

     IN WITNESS  WHEREOF,  the undersigned has duly subscribed these presents as
of January 24, 2006.


GOLDMAN SACHS ASSET MANAGEMENT, L.P.


By:/s/ Howard Surloff
----------------------------
Name:  Howard Surloff
Title: Managing Director

 
                                 Page 7 of 7 pages