Concord EFS Joins with Link2Gov to Process Electronic Tax Payments for IRS; Internal Revenue Service Seeking to Expand Tax Payments Made Electronically Via Internet or Phone.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--May 22, 2002

Concord EFS, Inc. (Nasdaq:CEFT), a leading electronic commerce provider, today announced that it is joining forces with Link2Gov Corp., a premiere e-payment solutions provider to government entities, to provide electronic payment processing services to federal taxpayers for the 2002 tax year. Link2Gov was one of just two companies selected by the Internal Revenue Service to accept annual balance due and quarterly estimated tax payments beginning January 2003, with the potential for annual contract extensions through 2007. Concord will provide the electronic payment authorization and settlement for tax payments made through Link2Gov's transaction interface, available via telephone and the Internet. The IRS has set a short-term goal of receiving 40% of payments electronically by 2003, with a long-term strategic goal of receiving 80% of payments electronically by 2007.

"Concord's processing capacity and performance combined with its payments industry leadership were key to our winning the IRS contract, which was awarded after an extensive and competitive bid process," said Ed Braswell, EVP Sales and Business Development for Link2Gov. "We join the IRS in its enthusiasm about the potential for electronic payments to improve people's access to and experience with the IRS, and to enhance the IRS's operating efficiency."

"We believe that the continuing shift to the convenience and security of electronic payments in the private sector has set the stage for rapid acceptance of electronic payments to government agencies," said Edward A. Labry III, Concord president. "We're proud to join Link2Gov and the IRS in working to make electronic payments as much a part of government transactions as they are a part of everyday life."

The Link2Gov e-payment interface is based on an IBM-hosted infrastructure, which will link to Concord's processing platform via EFSnet(SM), Concord's innovative Internet-based payment gateway built with open Internet standards. The tax payment transaction will flow as follows: (1) A taxpayer visits the IRS Website or calls the telephone number provided by Link2Gov and indicates that he/she wishes to pay his/her tax obligation via electronic payment; (2) Link2Gov sends the transaction information via the secure EFSnet gateway to Concord's processing platform, where Concord routes the transaction to the credit card network for authorization. (3) Concord returns the authorization to Link2Gov, and the transaction is approved and completed; (4) Concord settles the payment transaction with the card network and Link2Gov. Link2Gov provides the IRS with transaction data daily.

About Concord EFS, Inc.

Concord is a leading vertically integrated electronic transaction processor, providing transaction authorization, data capture, settlement and funds transfer services to financial institutions, supermarkets, petroleum retailers, convenience stores, restaurants, and other independent retailers. Concord's primary activities include Network Services, providing ATM driving, PIN-secured and signature debit card processing, deposit risk management, and STAR(SM) network access to the financial services industry; and Payment Services, providing credit, debit, check authorization, and electronic benefits transfer processing services to selected retail segments. Concord news releases, links to SEC filings, and other information are available at www.concordefs.com.

About Link2Gov Corp.

Link2Gov provides services in 10 states and over 600 counties that serve more than 66 million people. Link2Gov's e-Government Solution Suite includes development and consulting services for local, state and the federal government as well as electronic payment processing. Cashless, electronic payment processing services enable citizens and businesses to complete transactions with the government over the Internet, telephone, point-of-sale and kiosk through methods such as credit cards, ATM/debit cards, check cards and electronic checks. Development and consulting services include government portals as well as integrated solutions for: public health, surplus property-online auction, finance, human resources, content management system, customer relationship management, and imaging and workflow. For more information about Link2Gov, please visit www.link2gov.com.

This release may contain or incorporate by reference forward-looking statements made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any such statements are not guarantees of future performance and involve risks, uncertainties, and other factors which may cause our actual performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by those statements. Concord undertakes no obligation to publicly update or revise any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, or changes to future results over time. See the cautionary statements included as Exhibit 99.2 to our Annual Report on Form 10-K filed on February 26, 2002 for a more detailed discussion of certain of the factors that could cause our actual results to differ materially from those included in the forward-looking statements.