oncord EFS is spanning its wings in hopes of flying high. In May 2002, Concord added 35,000 ATMs to its processing services following the acquisition of Core Data Resources, an electronic transaction processor. In July, Concord reported revenue growth of 28 % for the second quarter of 2002 compared to 2001 and also announced a joint business initiative with Certegy in hopes of strengthening its check conversion services in the retail segment.

Under the new agreement, Certegy will power Concord's check conversion and warranty services. The check services will be integrated on Concord's STAR Universal terminal along with credit, debit, electronic benefits transfer, IDLogix age verification, electronic coupons and customized receipts. "We believe that Certegy's extensive experience in check risk management combined with simple check reader technology is the synthesis that will help check conversion to become more widespread and allow us to deliver on the promise of reducing the costs of accepting checks for payment," Concord President Edward A. Labry III.

Certegy and Concord will jointly market Certegy's complete suite of check authorization services, including imageless electronic check conversion, to Concord merchants and prospects nationwide.

As part of the agreement, Concord will provide front-end point-of-sale processing for credit, debit and electronic benefits transfer payments for Certegy's 40,000 merchant customers plus any new merchants signed by Certegy.

"Concord and Certegy's product lines are very complementary, so the combination of Concord and Certegy products creates a powerful offering," said Labry. "While Concord is strong in merchant acquiring and network services, Certegy's strengths are in card processing and check risk management."

"Concord's front-end technology is simply the best in the business," said Lee Kennedy, Certegy Chairman and CEO. "We're confident that our retail clients will be pleased that we chose Concord for their credit, debit and EBT payments."

Concord's business relationship with Certegy dates to 1999, when Concord first included Certegy in a portfolio of check authorization providers that Concord offered in its check services product line.