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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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  	May 18, 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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  	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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  ___________<BR>
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  	Registrant&#146;s telephone number, including area code:
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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>
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  <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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  	Item 1.01 Entry into a Material Definitive Agreement.
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  2006 Annual Incentive Plan and 2006 Stock Incentive Plan<br><br>	The Company&#x2019;s stockholders approved the eFunds Corporation 2006 Annual Incentive Plan and the eFunds Corporation 2006 Stock Incentive Plan at the Company&#x2019;s annual meeting of stockholders held on May 18, 2006.  The principal terms and conditions of these Plans are described in the Company&#x2019;s Proxy Statement, which was filed with the Securities and Exchange Commission on April 18, 2006 (the "Proxy Statement"), and that description is hereby incorporated by reference herein.  <br><br>Restricted Stock Unit Grants and Issuances <br><br>Pursuant to the eFunds Corporation 2006 Stock Incentive Plan, the Company issued the following restricted stock unit awards to its executive officers and directors on May 18, 2006.  Each award vests and will be converted into one share of common stock of the Company in three equal installments on February 19th in each of 2007, 2008 and 2009 if the holder continues to provide services to the Company through the applicable vesting date. The other terms and conditions of these awards are materially the same as those (other than the award granted to Mr. Walsh) set forth in the Company's standard form of restricted stock unit agreement, a copy of which was attached as Exhibit 10.2 the to Current Report on Form 8-K filed by the Company on February 22, 2006 (except that the awards made to the Company's independent directors do not allow for the withholding of shares to satisfy tax obligations incurred in connection with the settlement of those awards). The terms and conditions of Mr. Walsh's award are substantially the same as those set forth in the agreement, dated as of January 13, 2005, attached as Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005. Each of the executive officers of the Company named above is a party to a Change in Control Agreement that provides for changes to the scheduled vesting and exercisability provisions of their awards upon any change in control of the Company.  <br><br>Name of Executive Officer and			Number of Restricted Stock Units <br><br>Paul F. Walsh; 						22,026<br>Tommy L. Andrews; 					4,548<br>Steven F. Coleman; 					4,548<br>Laura J. De Cespedes;  					4,548<br>Kathleen Flanagan; 					4,548<br>George W. Gresham; 					4,548<br>Rahul Gupta; 						5,055<br>Kay J. Nichols; 					4,548<br>Gary L. Palmer; 					3,963<br>Clyde L. Thomas; 					5,055<br><br>The Company also awarded each of its independent directors 1,011 restricted stock units.  <br><br>In addition, the Company awarded restricted units to the following directors in the following amounts pursuant to the conversion of their cash accounts under the Company&#x2019;s Non-Employee Director Deferred Compensation Program. The mechanics of these conversions were more fully described in the Proxy Statement and thaat description is hereby incorporated by reference herein. <br><br><br>Name of Director and 				Number of Restricted Stock Units <br><br>Richard Lehmann; 					3,088<br>Richard Almeida;  					3,920<br><br>These restricted stock units will vest and be converted into shares upon the termination of the holder's service on the Board of Directors of the Company.<br><br>Transition Agreement with Larence Park <br><br>The Company has entered into a Transition Agreement, dated as of May 19, 2006 (the "Transaction Agreement"), with Larence Park.  Pursuant to the Transition Agreement, Mr. Park will serve as the Company&#x2019;s Transition Assistance Executive until June 30, 2006, at which point his further employment will be terminated.  Following this termination, Mr. Park&#x2019;s base salary will be continued for one year in exchange for his agreement not to compete with the Company or its affiliates nor solicit their employees during this period.<br><br>The Transition Agreement supersedes and replaces all prior severance agreements and arrangements between the Company and Mr. Park, including, without limitation, that certain Executive Transition Assistance Agreement and that certain Change of Control Agreement, each dated June 8, 2005.
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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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  <I>
  	May 24, 2006
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  	/s/ Paul F. Walsh
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  	Name: Paul F. Walsh
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  	Title: Chief Executive Officer
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "htm_12741.htm", "description": "LIVE FILING", "secsgml_size_bytes": 12376}]
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": "06865109"}, "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):
  May 18, 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.
  2006 Annual Incentive Plan and 2006 Stock Incentive Plan
  The Company's stockholders approved the eFunds Corporation 2006 Annual Incentive Plan and the eFunds Corporation 2006 Stock Incentive Plan at the Company's annual meeting of stockholders held on May 18, 2006.  The principal terms and conditions of these Plans are described in the Company's Proxy Statement, which was filed with the Securities and Exchange Commission on April 18, 2006 (the "Proxy Statement"), and that description is hereby incorporated by reference herein.
  Restricted Stock Unit Grants and Issuances
  Pursuant to the eFunds Corporation 2006 Stock Incentive Plan, the Company issued the following restricted stock unit awards to its executive officers and directors on May 18, 2006.  Each award vests and will be converted into one share of common stock of the Company in three equal installments on February 19th in each of 2007, 2008 and 2009 if the holder continues to provide services to the Company through the applicable vesting date. The other terms and conditions of these awards are materially the same as those (other than the award granted to Mr. Walsh) set forth in the Company's standard form of restricted stock unit agreement, a copy of which was attached as Exhibit 10.2 the to Current Report on Form 8-K filed by the Company on February 22, 2006 (except that the awards made to the Company's independent directors do not allow for the withholding of shares to satisfy tax obligations incurred in connection with the settlement of those awards). The terms and conditions of Mr. Walsh's award are substantially the same as those set forth in the agreement, dated as of January 13, 2005, attached as Exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2005. Each of the executive officers of the Company named above is a party to a Change in Control Agreement that provides for changes to the scheduled vesting and exercisability provisions of their awards upon any change in control of the Company.
  Name of Executive Officer and			Number of Restricted Stock Units
  Paul F. Walsh; 						22,026
  Tommy L. Andrews; 					4,548
  Steven F. Coleman; 					4,548
  Laura J. De Cespedes;  					4,548
  Kathleen Flanagan; 					4,548
  George W. Gresham; 					4,548
  Rahul Gupta; 						5,055
  Kay J. Nichols; 					4,548
  Gary L. Palmer; 					3,963
  Clyde L. Thomas; 					5,055
  The Company also awarded each of its independent directors 1,011 restricted stock units.
  In addition, the Company awarded restricted units to the following directors in the following amounts pursuant to the conversion of their cash accounts under the Company's Non-Employee Director Deferred Compensation Program. The mechanics of these conversions were more fully described in the Proxy Statement and thaat description is hereby incorporated by reference herein.
  Name of Director and 				Number of Restricted Stock Units
  Richard Lehmann; 					3,088
  Richard Almeida;  					3,920
  These restricted stock units will vest and be converted into shares upon the termination of the holder's service on the Board of Directors of the Company.
  Transition Agreement with Larence Park
  The Company has entered into a Transition Agreement, dated as of May 19, 2006 (the "Transaction Agreement"), with Larence Park.  Pursuant to the Transition Agreement, Mr. Park will serve as the Company's Transition Assistance Executive until June 30, 2006, at which point his further employment will be terminated.  Following this termination, Mr. Park's base salary will be continued for one year in exchange for his agreement not to compete with the Company or its affiliates nor solicit their employees during this period.
  The Transition Agreement supersedes and replaces all prior severance agreements and arrangements between the Company and Mr. Park, including, without limitation, that certain Executive Transition Assistance Agreement and that certain Change of Control Agreement, each dated June 8, 2005.
  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
  May 24, 2006
  By:
  /s/ Paul F. Walsh
  Name: Paul F. Walsh
  Title: Chief Executive Officer