Concord EFS automates drivers' cash advances at truckstops.
MEMPHIS Memphis, city, ancient Egypt
Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--Feb. 12, 1997--Concord EFS EFS Encrypted File System (Microsoft Windows 2000)
EFS Event Free Survival (survival rates in clinical trials)
EFS Evangeliska Fosterlandsstiftelsen (Sweden) , Inc. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CEFT CEFT Czech Educational Foundation of Texas
CEFT Competitive Evaluation Field Test
CEFT Certified Electronic Funds Transfer ) announced today it has entered into an agreement in principle with Comdata Corp. to provide cash advance transactions at Concord's ATM network at truckstops across the United States.
The agreement provides for the automation of cash advances for approximately 500,000 drivers at Concord ATMs. Currently these drivers carry a standard Comchek card to receive cash advances at truckstop fuel desks.
To receive a cash advance at a Concord ATM, the driver inserts the Comchek card and responds to the standard prompts as in any other ATM transaction.
Drivers can receive both cash advances (Comdata's "Cash-On-Card" product) and payroll services (Comdata's "Express Cash") from the Concord ATMs.
The agreement has been endorsed by members of Concord's national ATM network including All American Plazas, Inc., Burns Brothers, Inc., Knox Oil of Texas, Inc., Petro Shopping Centers, Pilot Corporation, Travel Ports of America, Inc., and Truckstops of America.
Truckstops will reduce their expenses and improve customer service by utilizing the ATM network. Reduced congestion The condition of a network when there is not enough bandwidth to support the current traffic load.
congestion - When the offered load of a data communication path exceeds the capacity. at the fuel desk will improve customer service and less cash on hand will be required reducing working capital for the truckstop chains.
Transportation fleets and truckdrivers save time and gain convenience by utilizing the ATM network. With cash advances at Concord ATMs, drivers no longer need to spend time on the phone registering their Comcheks and then spend additional time waiting in line at the fuel desk to receive their cash.
Comdata provides funds transfer, fuel purchase, cash advance, and permit services, as well as fleet optimization and routing software for the trucking industry; point-of-sale and data collection services for the truckstop industry; cash advance services for the gaming industry; and long-distance telecommunications services for the transportation and gaming industries. Comdata, based in Brentwood, Tenn. is part of Minneapolis-based Ceridian Corporation (NYSE NYSE
See: New York Stock Exchange :CEN CEN - Conseil Européen pour la Normalisation.
A body coordinating standardisation activities in the EEC and EFTA countries. ).
Ceridian Corporation is a leading information services See Information Systems. and defense electronics company that serves the human resources, electronic media, transportation, gaming and government markets. Its information services segment includes Comdata, a group of human resources businesses, and Arbitron. Its defense electronics business is Computing Devices International.
Concord Computing Corporation and EFS National Bank are wholly-owned subsidiaries of Concord EFS, Inc. (NASDAQ:CEFT). Based in Memphis, Concord EFS provides electronic transaction authorization, processing, settlement and funds transfer services in selected markets including supermarket chains, grocery stores, convenience store merchants, other retailers and the trucking industry.
CONTACT: Concord EFS, Inc., Memphis
Tom Renfro, 901/371-8000