First Trade Date for Concord EFS, Inc.
|Company Name||First Trade Date (yyyy-mm-dd)|
|Concord EFS, Inc.||1984-06-21|
|Concord EFS, Inc.||CEFT|
|History and Business of Company|
(this information may include date of incorporation)
Concord EFS, Inc. (CEFT) is a fully integrated national provider of electronic transaction services. It focuses on marketing its services to supermarket chains and multiple lane retailers, financial institutions, petroleum and convenience stores, grocery stores, the trucking industry and other retailers. Services include electronic transaction authorization, processing, settlement and funds transfer. CEFT's primary segment is Merchant Services; it also provides ATM Services.|
CEFT specializes in payment processing services: handling credit and debit card transactions. The company generates most of its revenues from fee income related to Merchant Services: providing integrated electronic transaction services for credit card, debit card and electronic benefits transfer (EBT) card transactions to supermarket chains, grocery stores, convenience store merchants and other retailers.
The company believes it is one of the few fully integrated transaction processors, supplying electronic payment and verification terminals, cash dispensing machines (ATMs), processing services, payment settlement, depositary services and transaction data compilation. In addition, CEFT is one of the few companies that offers full credit and debit card processing nationwide.
CEFT provides electronic payment and banking facilities to a large customer base in the trucking industry for use at major truck stop chains throughout the U.S. In addition to maintaining a network of ATMs at truck stops and supermarkets, the company provides fuel purchase cards, ATM bank cards, and general banking services to truck drivers. CEFT offers trucking companies payroll deposit and cash forwarding services, as well as real-time data compilation with respect to fuel volume usage, fuel expenditures, vehicle and driver tracking, and truck routine routine maintenance schedules.
The company offers merchants a cost-effective, reliable, turnkey debit and credit card processing system. CEFT can provide its system on a profitable basis, due to its low-cost operational structure, which includes efficient marketing, volume purchasing arrangements with equipment and communications vendors, and direct membership in bank card associations.
In February 2001, the company acquired Star Systems, Inc., an EFT network based in Florida, in exchange for about 24.75 million Common shares.
In December 2001, CEFT agreed to acquire The Logix Companies, LLC, a Longmont, CO-based electronic transaction processor and service provider.
INCORPORATED in Delaware as successor to a Massachusetts corporation organized Jan. 23, 1970 as Concord Computing Corp.; name changed to Concord EFS, Inc. Feb. 20, 1992. OFFICE- 2525 Horizon Lake Dr., Suite 120, Memphis, TN, USA 38133 (Tel.: 901- 371-8000). Fax - 901-371-8093. WEBSITE-http://www.ceft.com.
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