Just two short years ago, few people in the banking business paid much attention to a company called Concord EFS, a Memphis-based transaction processor that specialized in providing electronic payment and payroll services, primarily to trucking companies and convenience stores.

Since then, Concord has acquired three major electronic funds transfer networks — Star Systems, Cash Station, and MAC — and catapulted itself into the dominant position in the online debit and automated teller machine processing industry.

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