EFunds Corporation

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EFD

Type	Subsidiary (since 2007)
Industry	Financial services, electronic funds transfer, retail
Founded	1999 in Minneapolis, Minnesota, USA
Fate	Acquired by FIS in 2007
Headquarters	Scottsdale, Arizona, USA
Key people	Gary A Norcross, CEO
Products	, EFD IST/Switch, EFD IST/AllCard, EFD IST/Clearing, EFD IST/MAS, EFD ChexSystems, EFD DebitBureau, EFD DataNavigator, EFD Prepaid Solutions
Revenue	$552.4 million USD (2006)
Number of employees	5,000

EFD was an American payments services company. It provided financial service companies and other large enterprises with new account decisions, fraud detection and payment processing services. On June 27, 2007, Fidelity National Information Services, Inc. (FIS) announced that it was acquiring EFD in an all-cash transaction valued at about $1.8B. The target completion date for the acquisition was the 3rd quarter of 2007.

Company history[]

EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together established players in financial risk management and electronic transaction processing services; previously distinct businesses within Deluxe.

In January 2000, iDLX Technology Partners, another Deluxe unit, combined with eFunds to add professional services and business process outsourcing capabilities to the new business. In June 2000, eFunds held its initial public offering on the NASDAQ national market and later that year completed its separation from Deluxe.

In March 2007, eFunds Corporation announced its transition to its new corporate brand EFD.

EFD | eFunds International[]

Based primarily in the US, EFD|eFunds International Limited extends EFD's services beyond North America. In India, eFunds employs more than 5,000 employees in its Software Development, BPO and IT services operations in Mumbai, Gurgaon and Chennai. The company has been ranked among the top three BPO providers in the country.^[1]

See also[]

• ChexSystems

References[]

External links[]

• eFunds Corporation
• Fidelity National Information Services
• FIS Global