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eFunds and Aconite respond to SEPA Card Framework with one-stop shop for EMV

eFunds incorporates Aconite’s innovative Script Processing software into SEPA compliant
European card management solution

DARESBURY, November 8 2005 – eFunds International Limited, a leading provider of electronic payments, global outsourcing and risk management solutions, today announced that it is working together with Aconite, a leading provider of Europay, MasterCard and Visa (EMV) and smartcard software solutions, to market a card portfolio management solution which will help banks comply with the requirements of the Single Euro Payments Area (SEPA) Card Framework.

The SEPA Card Framework, announced in September, defines the guiding principles for all card transactions within the Euro zone and requires the full implementation of EMV chip and PIN security standards in all Euro countries by 2010. Magnetic stripe cards will be phased out between 2008 and 2010. In many countries the implementation of EMV is far from complete but now banks will have no option but to conform to the new guidelines.

eFunds is to market Aconite’s EMV Script Processor solution as a component of its comprehensive software solution for card issuing, portfolio management and back office services in the SEPA environment. EMV Script Processor enables banks to increase their control over credit and debit card risk by using sophisticated scripts to dynamically update information held in the chip and control card behaviour after the card has been issued. The inclusion of EMV Script Processor will enhance eFunds’ end-to-end payments expertise as a building block in innovative solutions for risk management, pre-authorized debit and contactless payments.

Ron Drake, managing director, eFunds Europe, commented, “Fraud management and EMV compliance are two areas of high cost for banks. The Aconite solution enhances our existing EMV solutions and gives banks unprecedented flexibility to reduce the risk of fraud in the new integrated European payments environment.”

Mike Woods, CEO of Aconite, added, “This solution enables banks to profit from EMV instead of simply bearing the cost, which has been a barrier to widespread adoption of the standards. With reduced fraud losses, reduced cost of chargeback processing, the ability to download new applications and better risk profiling, there will be a real return on the investment associated with EMV.”

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About Aconite

Aconite is a leading global consulting and software solutions provider, with specialist expertise in EMV (Europay, MasterCard and Visa) migration and smart card systems.

Its smartprocess® business solution sits at the heart of EMV migration, providing a suite of software and consultancy solutions tailored to support banks and financial institutions throughout their EMV lifecycle.

From strategic planning right through to roll-out and EMV exploitation, this end-to-end solution provides the foundation for increased business efficiency and affordable smart card risk management. Aconite's easy-to-implement transaction processing with EMV Transaction Enabler and scripting with EMV Script Processor, together with smart card testing and diagnostics functionality, helps customers achieve measurable ROI on their EMV investments.

With more than 100 years of collective experience, Aconite’s EMV consultants and technicians are among the most experienced EMV and payments specialists in Europe and North America. This, together with the company’s extensive knowledge and experience in delivering software and consultancy solutions across four continents, positions Aconite as a powerful partner to successfully deliver a cost effective program for EMV migration.

Based in the UK, Aconite Technology has offices in five regions: Europe, Middle East, Asia, The Americas and Southern Africa. Further information can be found on the Aconite website at

About eFunds

eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments and risk management. eFunds offers electronic funds transfer software and processing, risk management and related outsourcing solutions to financial institutions, electronic funds transfer networks, retailers, telecommunications providers, and government agencies around the world. Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers. Based in the UK, eFunds International Limited is the European operation of eFunds Corporation.

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are ”forward-looking statements'' within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, the unpredictability of merger and acquisition activity, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new busin
ess initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2005.