Concord EFS to Provide On-line Debit POS Processing to No. 1 Retailer.

Business Editors

MEMPHIS, Tenn.--(BUSINESS WIRE)--Jan. 22, 2001

Concord EFS, Inc. (NASDAQ:CEFT), a leading electronic commerce provider, announced today that it has reached an agreement with Wal-Mart Stores, Inc. (WMT) to serve as one of its providers of on-line debit point-of-sale (POS) processing for Wal-Mart stores and SAM's Clubs nationwide. Concord, which is already a processor for payments made with EBT (electronic benefits transfer) cards at Wal-Mart stores, will route a portion of Wal-Mart's on-line debit transactions to the appropriate networks for authorization.

"Wal-Mart sets high standards for itself and its providers, so we're very proud the company has chosen to expand its relationship with us," said Edward A. Labry III, Concord President. "With on-line debit and EBT among the fastest-growing transactions in retailing, we see Wal-Mart's decision as a vote of confidence in Concord's processing capacity, expertise, and service." Labry went on to add that as the nation's largest retailer, Wal-Mart's continued emphasis on delivering the most dependable PIN-based debit payments for its customers will help build awareness of the convenience and security benefits of on-line debit. "Many retailers such as Wal-Mart also offer a cash-back feature, which allows customers to withdraw cash when they pay for their purchases with a secure PIN-based debit card," he said. "Wal-Mart's leadership in this area will continue to offer a real boost to on-line debit growth."

Concord is a vertically-integrated electronic transaction processor, providing transaction authorization, data capture, settlement and funds transfer services to financial institutions, supermarkets, petroleum retailers, convenience stores, and other independent retailers. Concord's primary activities include providing credit, debit, check authorization, and electronic benefits transfer (EBT) processing services to selected retail segments; and providing gateway processing, ATM driving and MAC(R) network access to the financial services industry. Concord also provides electronic payment and payroll services to trucking companies, truck stops and other businesses. Concord news releases, links to SEC filings, and other information are available on its corporate web site at www.concordefs.com.

This release may contain or incorporate by reference statements which may constitute "forward-looking" information, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Any such statements are not guarantees for future performance and involve risks and uncertainties, and actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future results over time. See the cautionary statements included as Exhibit 99 to our Form 10-Q for the quarter ended March 31, 1999 for a more detailed discussion of certain of the factors that could cause actual results to differ materially from those included in the forward-looking statements.