Frustrated by the escalating costs of accepting noncash payments, supermarkets are looking for ways to bypass many of their banks and transaction processing suppliers.

The Food Marketing Institute, a supermarket trade group, has hired Concord EFS Inc., a Memphis transaction processor, to be a "strategic partner" in developing two payment options. They are to be tested this fall and rolled out in the first quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.