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  <TITLE> eFunds Corporation (Form: 8-K) </TITLE>
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  		UNITED STATES<BR>
  	SECURITIES AND EXCHANGE COMMISSION
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  	WASHINGTON, D.C. 20549
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  	FORM 8-K
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  	CURRENT REPORT
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  	Pursuant to Section&nbsp;13 or 15(d) of the Securities Exchange Act of 1934
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  	Date of Report (Date of Earliest Event Reported):
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  	&nbsp;
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  	September 22, 2006
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  	eFunds Corporation
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  <BR>__________________________________________<BR>
  	(Exact name of registrant as specified in its charter)
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  	Delaware
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  	1-31951
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  	39-1506286
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  _____________________<BR>
  	(State or other jurisdiction
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  _____________<BR>
  	(Commission
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  ______________<BR>
  	(I.R.S. Employer
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  	of incorporation)
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  	File Number)
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  	Identification No.)
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  	&nbsp;&nbsp;
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  	Gainey Center II, Suite 300, 8501 North Scottsdale Road, Scottsdale, Arizona
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  	85253
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  _________________________________<BR>
  	(Address of principal executive offices)
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  	&nbsp;
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  ___________<BR>
  	(Zip Code)
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  	Registrant&#146;s telephone number, including area code:
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  	&nbsp;
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  	480.629.7700
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  	Not Applicable
  <BR>______________________________________________<BR>
  	Former name or former address, if changed since last report
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  	&nbsp;
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  <!-- CoverPageRegistrant END --><P><FONT SIZE="2">
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:</FONT>
  </P>
  <P><FONT SIZE="2">
  [&nbsp;&nbsp;]&nbsp;&nbsp;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
  [&nbsp;&nbsp;]&nbsp;&nbsp;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<br>
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  <B>
  	Item 1.01 Entry into a Material Definitive Agreement.
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  Non-Employee Director Deferred Compensation Plan<br><br>On September 22, 2006 the Company amended the eFunds Corporation Non-Employee Directors Deferred Compensation Program (the "Program") to enable participating directors to elect to defer the settlement of any restricted stock units (RSUs) awarded to them in 2007 and beyond.  Deferred RSUs will continue to vest (i.e. lose their risk of forfeiture) over their scheduled term, but the conversion of a deferred RSU into shares of common stock will be deferred until a date selected by the holder of that award in their deferral election. <br><br>Independent directors can continue to elect to defer the payment of any cash retainer fees under the amended Program.  Fees that are so deferred are credited to a participating directors account in the form of RSUs (with each RSU being deemed to have a value equal to the fair market value of one share of common stock on its date of issuance).  The RSUs are credited to the individuals participating in the fee deferral aspect of the Program on a quarterly basis and will be converted into shares of common stock in accordance with the deferral election made by the participating Director.  <br><br>The amendments to the Program also allow participating directors to elect to have any RSUs credited to their accounts in 2007 and thereafter converted into shares of common stock in a lump sum upon termination of their service on the Board or on a subsequent anniversary of their service termination date, converted in installments following a termination of service or settled during their continued tenure on the Board.  Prior to the most recent amendment to the Program, all of the RSUs credited to a participating directors account were converted into shares and issued to the director upon the termination of his or her service on the Board and this distribution method will remain as the sole option for deferrals credited prior to 2007.  Each RSU issued under the Program receives dividend equivalent payments equal to any cash dividend paid on one share of common stock.<br><br>Technical Amendment to the eFunds Corporation 2006 Stock Incentive Plan<br><br>The Company amended the eFunds Corporation 2006 Stock Incentive Plan on September 22, 2006 to clarify that if there is any equity restructuring involving the Company, appropriate equitable adjustments must be made to awards outstanding under that plan to ensure that all of the holders of those awards are in the same economic position after the equity restructuring as they were before its occurrence.
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  	SIGNATURES
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  	Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
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  	eFunds Corporation
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  	&nbsp;&nbsp;
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  <I>
  	September 28, 2006
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  <I>
  	By:
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  <I>
  	/s/ George W. Gresham
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  <BR>
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  	&nbsp;
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  <I>
  	Name: George W. Gresham
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  <I>
  	Title: Cheif Financial Officer
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  	Exhibit&nbsp;Index
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  <B>
  	Exhibit No.
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  	&nbsp;
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  	Description
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  	10.1
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  	&nbsp;
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  eFunds Corporation Non-Employee Directors Deferred Compensation Program
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  	10.2
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  	&nbsp;
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  <FONT SIZE="2">
  eFunds Corporation 2006 Stock Incentive Plan
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_15225.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12358}]
metadata_filer: {"company-data": {"conformed-name": "EFUNDS CORP", "cik": "0001109190", "assigned-sic": "7389", "irs-number": "391506286", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-31951", "film-number": "061114594"}, "business-address": {"street1": "8501 N. SCOTTSDALE RD", "street2": "GAINEY CENTER II, SUITE 300", "city": "SCOTTSDALE", "state": "AZ", "zip": "85253", "phone": "6026592135"}, "mail-address": {"street1": "8501 N. SCOTTSDALE RD", "street2": "GAINEY CENTER II, SUITE 300", "city": "SCOTTSDALE", "state": "AZ", "zip": "85253"}}
text: eFunds Corporation (Form: 8-K)
  UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  WASHINGTON, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
  Date of Report (Date of Earliest Event Reported):
  September 22, 2006
  eFunds Corporation
  __________________________________________
  (Exact name of registrant as specified in its charter)
  Delaware
  1-31951
  39-1506286
  _____________________
  (State or other jurisdiction
  _____________
  (Commission
  ______________
  (I.R.S. Employer
  of incorporation)
  File Number)
  Identification No.)
  Gainey Center II, Suite 300, 8501 North Scottsdale Road, Scottsdale, Arizona
  85253
  _________________________________
  (Address of principal executive offices)
  ___________
  (Zip Code)
  Registrant's telephone number, including area code:
  480.629.7700
  Not Applicable
  ______________________________________________
  Former name or former address, if changed since last report
  Check the appropriate box below if the Form 8-K filing is intended to
  simultaneously satisfy the filing obligation of the registrant under any
  of the following provisions:
  [  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  [  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  [  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  [  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Top of the Form
  Item 1.01 Entry into a Material Definitive Agreement.
  Non-Employee Director Deferred Compensation Plan
  On September 22, 2006 the Company amended the eFunds Corporation Non-Employee Directors Deferred Compensation Program (the "Program") to enable participating directors to elect to defer the settlement of any restricted stock units (RSUs) awarded to them in 2007 and beyond.  Deferred RSUs will continue to vest (i.e. lose their risk of forfeiture) over their scheduled term, but the conversion of a deferred RSU into shares of common stock will be deferred until a date selected by the holder of that award in their deferral election.
  Independent directors can continue to elect to defer the payment of any cash retainer fees under the amended Program.  Fees that are so deferred are credited to a participating directors account in the form of RSUs (with each RSU being deemed to have a value equal to the fair market value of one share of common stock on its date of issuance).  The RSUs are credited to the individuals participating in the fee deferral aspect of the Program on a quarterly basis and will be converted into shares of common stock in accordance with the deferral election made by the participating Director.
  The amendments to the Program also allow participating directors to elect to have any RSUs credited to their accounts in 2007 and thereafter converted into shares of common stock in a lump sum upon termination of their service on the Board or on a subsequent anniversary of their service termination date, converted in installments following a termination of service or settled during their continued tenure on the Board.  Prior to the most recent amendment to the Program, all of the RSUs credited to a participating directors account were converted into shares and issued to the director upon the termination of his or her service on the Board and this distribution method will remain as the sole option for deferrals credited prior to 2007.  Each RSU issued under the Program receives dividend equivalent payments equal to any cash dividend paid on one share of common stock.
  Technical Amendment to the eFunds Corporation 2006 Stock Incentive Plan
  The Company amended the eFunds Corporation 2006 Stock Incentive Plan on September 22, 2006 to clarify that if there is any equity restructuring involving the Company, appropriate equitable adjustments must be made to awards outstanding under that plan to ensure that all of the holders of those awards are in the same economic position after the equity restructuring as they were before its occurrence.
  Top of the Form
  SIGNATURES
  Pursuant to the requirements of the Securities Exchange Act of 1934, the
  	registrant has duly caused this report to be signed on its behalf by the
  	undersigned hereunto duly authorized.
  eFunds Corporation
  September 28, 2006
  By:
  /s/ George W. Gresham
  Name: George W. Gresham
  Title: Cheif Financial Officer
  Top of the Form
  Exhibit Index
  Exhibit No.
  Description
  10.1
  eFunds Corporation Non-Employee Directors Deferred Compensation Program
  10.2
  eFunds Corporation 2006 Stock Incentive Plan