EFD (eFunds Corporation)

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EFD
Type Subsidiary
Industry Financial Services, Electronic funds transfer, Retail
Founded Minneapolis, Minnesota, USA
Headquarters Scottsdale, Arizona, USA
Key people Paul F. Walsh, Chairman and Chief Executive Officer
Products EFD Connex, EFD IST/Switch, EFD IST/AllCard, EFD IST/Clearing, EFD IST/MAS, EFD ChexSystems, EFD DebitBureau, EFD DataNavigator, EFD Prepaid Solutions
Revenue Increase $552.4 million USD (2006)
Employees 5,000
Website www.efunds.com

EFD is a payments services company. EFD provides 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[edit]

EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together some of the most 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[edit]

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[edit]

References[edit]

  1. ^ Chhabra, Mohit (2004-11-08). "DQ-IDC INDIA SURVEY: BPO E-SAT 2004". DataQuest. Retrieved 2006-12-26. 

External links[edit]