EFD - News, Articles & Research

News

Fidelity National to spin off lender processing division

Fidelity National Information Services (FIS) says its board of directors has approved the spin off of its lender processing services (LPS) division into a separate publicly traded company.

25 October 2007

News

SNS Bank outsources card issuing to EFD

Netherlands-based SNS Bank has signed a five year contract with US e-payments firm EFD - formerly known as eFunds - for the supply of EMV credit card issuing services.

09 August 2007

News

Fidelity to buy eFunds for $1.8bn

Fidelity National Information Services (FIS) says it has entered into a definitive agreement to acquire US electronic payments firm eFunds in an all cash transaction worth approximately $1.8 billion.

27 June 2007

News

Finextra50 dips to 99.76

The Finextra50 Financial Technology Index continues its fortnightly yo-yo pattern, ending last week down 2.6% to close at 99.76, mainly driven by falls in European markets and several key US constituents. iFlex and Mphasis in India benefited from currency movements and takeover speculation, and in the US eFunds also rose on news that a hedge fund has taken a 6.8% stake in the company. Total System Services, Online Resources, Ingenico, Wincor Nixdorf and Temenos all saw their shares fall.

11 June 2007

News

Finextra50 ends first week slightly down

The Finextra50 Financial Technology Index closed down .84% at 99.17 on Friday, as fintech stocks in general dipped slightly following the previous week's exuberance.

14 May 2007

News

Finextra launches Finextra50 fintech index

The Finextra50 Financial Technology Index is a free-float value weighted index of the world's leading companies that provide technology-based products and services to the financial services industry. It was set at an indexed value of 100 at market close on Friday 4th May 2007. Our weekly update on the index's movements will provide a framework for analysing trends in the financial technology market, particularly vendor consolidation - a trend that shows no sign of slowing down.

11 May 2007

News

EFunds explores merger opportunities; Q1 revenues and profits slip

US-based electronic payments services firm eFunds says it is exploring potential merger opportunities after being approached by un-named parties. The news comes as the vendor reports a dip in net income and revenue in the first quarter.

09 May 2007

News

Efunds files lawsuit against MasterCard

US payments processor eFunds has filed a lawsuit against MasterCard over the termination of a debit processing alliance agreement signed by the two companies in 2003.

14 February 2007

News

Efunds, IBM and Infomax to implement Thai national payments network

US payments systems vendor eFunds is teaming with IBM and Bangkok-based IT services firm Infomax to implement a new payments network for the National Interbank Transaction Management Exchange (ITMX) in Thailand.

12 January 2007

News

EFunds to acquire WildCard Systems

US payments processor eFunds Corporation has signed a definitive agreement to acquire Florida-based WildCard Systems, a privately-held provider of pre-paid and stored value card services, for $228.8m plus an earn-out of up to $58.8m.

10 June 2005

News

Visa USA teams with eFunds to expand customer screening service

Visa USA is adding account fraud information from eFunds to its customer screening service in a bid to help its card-issuing members to detect fraudulent card applications.

22 April 2005

News

EFunds to buy India Switch Company

US-based eFunds has signed a definitive agreement to acquire the India Switch Company (ISC), a provider of payments processing and managed ATM services, from retail banking firm HMA Data Systems for a maximum consideration of $20 million.

05 April 2005