eFunds Corporation to Acquire WildCard Systems, Inc.

SCOTTSDALE, AZ – eFunds Corporation (NYSE: EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, today announced that it has signed a definitive agreement to acquire WildCard Systems, Inc., a privately-held provider of prepaid and stored value solutions to financial institutions, retailers and other payment issuers.

The two Companies signed a distribution agreement in November of 2004 and have since signed two tier one financial institution deals under eFunds’ existing alliance with MasterCard International. The partnership has also validated the market demand for prepaid payment products, and has proven the Companies’ ability to work together to deliver an integrated debit and prepaid solution.

The addition of Wildcard’s prepaid and stored value expertise to eFunds’ debit processing capabilities is a complementary extension of the Company’s current value proposition. As the industry moves from paper to electronic payments, there is growing demand for innovative solutions such as stored value systems, especially in financial services where eFunds already serves more than 9,000 clients across 80 countries.

“We are excited to welcome WildCard to team eFunds — this is a natural fit,” said Paul Walsh, chairman and chief executive officer of eFunds. “The complementary nature of debit and prepaid brings a powerful value proposition to the financial institution, retail and other issuer markets served by both companies. This acquisition is an important step in the execution of eFunds’ strategic plan to build breadth into our electronic payments offering.”

According to Mercator Advisory Group, the prepaid market is estimated to grow by more than 20 percent over the next five years, making it one of the fastest growing payment segments.

“Our combined companies bring the agility and responsiveness of WildCard with eFunds’ significant financial institution franchise, financial stability, technological scalability and worldwide resources,” said Larence Park, CEO and co-founder of WildCard Systems. “Our integrated debit and prepaid offering moves customers closer to a single ‘payment hub,’ streamlining the management of their consumer accounts. Customers can now come to one trusted provider for a full suite of debit and prepaid solutions.”

The purchase price consists of an upfront payment of $228.8 million (less a $22.8 million holdback) plus an earn-out of up to $58.8 million. Payment of the earn-out is dependent upon the 2006 revenues of the acquired business. The purchase price will be funded with cash on hand and bank financing. The transaction is expected to close in early July 2005.

For more details visit http://www.efunds.com/wildcardsystems/.

Merrill Lynch and Blackrock Investments acted as financial advisors to eFunds. Sutter Hill Ventures acted as financial advisor to WildCard.