Concord EFS to partner with MoneyGram

<p>MEMPHIS, Tenn. -Concord EFS, Inc., a financial services processor and operator of the STAR debit network, will join forces with Travelers Express/MoneyGram to offer a person-to-person money transfer service via the STAR network. The new service will allow STAR cardholders to send transactions at participating ATMs, and will allow recipients to collect the funds with a STAR MoneyGram card at any of the approximately 209,000 STAR ATMs nationwide. MoneyGram, a money transfer network with more than 50,000 agent locations in 150 countries, will provide the transaction services at STAR ATMs. The ATM-to-ATM service is expected to pilot and begin initial rollout in the fall of 2002. The “send” service will be initially available through ATMs that are processed by Concord and eventually available to all participating STAR ATMs on an optional basis.</p>