Dan M. Palmer
Concord EFS, Inc., Founder and Former Chairman and CEO
|  | A 2000 inductee into the Society of Entrepreneurs, Dan Palmer retired in 2007 as a consultant to First Data Corporation, which purchased Concord EFS, Inc. in February of 2004. Prior to the acquisition, Palmer was Chairman and CEO of Concord EFS. He founded EFS, Inc. as a venture within Union Planters Bank in 1982. In 1985 he merged with Concord Computing Corporation and the company became Concord EFS. His strategic planning and leadership led the company to become a leader in credit, debit, EBT (electronic benefits transactions) and ATM processing. Concord’s customers include over 6500 financial institutions, and several hundred thousand grocery stores, convenience stores, gas stations, and other retailers of all sizes from Mon and Pop stores to Wal Mart. He started the company with a handful of people and carefully built it into a successful enterprise, changing and adding to the company’s services to meet customer needs and assembling what he believes is an extremely talented management and employee group to service these customers. In 1996 Concord EFS, Inc. was ranked as the number one company in percentage increase in market valuation over the previous ten years by the Wall Street Journal. In April 2001, it was ranked number two for the same comparison for the last ten years. Dan Palmer was named one of the nation's "Top 10 CEO's" by Investors Business Daily in 2001. Palmer was also named the 2001 University of Memphis Business School Alumnus of the Year and received the University's Distinguished Alumni Award in 2004. Description of Business:
Electronic payment processing, major processor of credit and debit card transactions and ATM transactions Year Business Founded:
1971 Year Inducted:
2000 Thoughts on Entrepreneurship: "'When I think of Entrepreneurship, I think of two Memphis Society members who inspired me with their innovation and will to succeed – Fred Smith and Kemmons Wilson. I also remember Bill Matthews who gave me the chance to start our company as a venture in Union Planters Bank. If it had not been for Bill’s risk taking regarding me and my ideas, Concord EFS, Inc. would not exist today." For More Information: http://www.concordefs.com
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