EFunds Corporation
| Company type | Public (until acquisition) |
|---|---|
| Industry | Payments processing |
| Predecessor | Deluxe Corporation (divisions) |
| Founded | 1999 |
| Defunct | 2007 |
| Fate | Acquired by Fidelity National Information Services, Inc. (FIS) |
| Successor | Fidelity National Information Services, Inc. (FIS) |
| Headquarters | Scottsdale, Arizona , United States |
Area served | United States, India, global via subsidiary |
| Products | Electronic transactions processing, debit card and ATM operations, new account decisioning, fraud prevention, payment processing solutions |
| Owner | Fidelity National Information Services, Inc. (FIS) (post-2007) |
Number of employees | 5000+ (India subsidiary) (Unknown) |
| Parent | Fidelity National Information Services, Inc. (FIS) (post-2007) |
EFD (previously known as eFunds Corporation) operated out of Scottsdale, Arizona, as a payments processing company focused on electronic transactions such as debit card and ATM operations. It provided services to financial institutions and major corporations, including new account decisioning, fraud prevention, and payment processing solutions. On June 27, 2007, Fidelity National Information Services, Inc. (FIS) declared it would acquire EFD through a cash deal valued near $1.8 billion, with the transaction finalized in the third quarter of 2007.
Company history
Founded in 1999, EFD originated as a spin-off from Deluxe Corporation by consolidating Deluxe’s financial risk management and electronic transaction processing divisions.
In January 2000, eFunds integrated iDLX Technology Partners, which enhanced its offerings by adding professional services and business process outsourcing (BPO). The company went public on NASDAQ in June 2000 and completed its full separation from Deluxe later that same year.
The company adopted the name EFD in March 2007 as part of a rebranding effort.
EFD/eFunds International
While primarily operating within the United States, EFD expanded its reach globally through its subsidiary eFunds International Limited. In India, the firm employed more than 5,000 professionals across software development, BPO, and IT support functions located in Mumbai, Gurgaon, and Chennai. It was recognized as one of the top three BPO providers in the Indian market.