STRATEGIC PARTNERS
December 9, 2002
MEMPHIS, Tenn. -- Fast-food giant McDonald's has selected Concord EFS Inc. (NYSE: CE) to provide credit and debit card processing for its company-owned restaurants as the chain begins selectively rolling out card-based payments by mid-2003.
Concord will also be the preferred card processing provider for McDonald's franchisees nationwide, according to a company news release.
The partnership calls for Concord to provide transaction routing, authorization and settlement for credit and debit cards used for payment at McDonald's restaurants.
McDonald's operates more than 30,000 restaurants worldwide, serving 46 million people each day, according to the release. Nearly 85 percent of those restaurants are owned and operated by independent franchises.
