SOURCE: eFunds

June 29, 2005 07:00 ET

eFunds Signs With Société Générale Group to Manage Card Programs for International Retail Subsidiaries

eFunds to Offer Société Générale Complete Range of Card Processing Services on Common Platform

SCOTTSDALE, AZ -- (MARKET WIRE) -- June 29, 2005 -- eFunds Corporation (NYSE: EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, today announced that it has signed an agreement with Société Générale, one of the largest financial services groups in the euro-zone, to provide complete card processing services for the bank's international retail subsidiaries.

Under the terms of the agreement, eFunds will offer each subsidiary full third-party processing services across the transaction lifecycle, including ATM management, merchant acquiring, back-office services and card management. Leveraging eFunds' global processing infrastructure, Société Générale will be strongly positioned to standardize card processing operations for its international subsidiaries on a common platform.

"As Société Générale's preferred partner for international card services, eFunds brings proven, world-class payment processing expertise that will help to speed the delivery of new products and services to the bank's emerging international markets," said Paul Walsh, Chairman and CEO, eFunds Corporation. "The new solution effectively expands eFunds' international payment processing footprint, and positions the company for further growth as a global, customer-focused solutions provider."

About Société Générale Group

Société Générale is one of the largest financial services groups in the euro-zone. The Group employs 92,000 people worldwide in three key businesses:

--  Retail Banking & Financial Services: Société Générale serves more than
    17 million individual customers worldwide.
--  Global Investment Management & Services: Société Générale is one of
    the largest banks in the euro-zone in terms of assets under custody (EUR
    1,180 billion, March 2005) and under management (EUR 326 billion, March
--  Corporate & Investment Banking: SG CIB ranks among the leading banks
    worldwide in euro capital markets, derivatives and structured finance.
Société Générale is included in the four major socially responsible investment indexes.

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.

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 business 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 March 31, 2005.

eFunds Corporation
Gainey Center II, Suite 300
8501 North Scottsdale Road
Scottsdale, AZ 85253

Contact Information

  • For additional information:
    Chris Walker
    Brodeur Worldwide
    Phone: 602 284 4177
    Email: Email Contact