As filed with the Securities and Exchange Commission on March 31, 1998

                                            Registration No. 33- _______________

--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                         -----------------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                        Under The Securities Act of 1933

                         -----------------------------

                               DELUXE CORPORATION
             (Exact name of registrant as specified in its charter)

          Minnesota                                              41-0216800
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

                           3680 Victoria Street, North
                        Saint Paul, Minnesota 55126-2966
               (Address of principal executive offices) (Zip Code)

                             1998 DELUXESHARES PLAN
                            (Full title of the plan)

                                 John H. LeFevre
              Senior Vice President, General Counsel and Secretary
                               Deluxe Corporation
                           3680 Victoria Street, North
                        Saint Paul, Minnesota 55126-2966
                     (Name and address of agent for service)

                                 (612) 483-7008
          (Telephone number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
<TABLE>
<CAPTION>

==========================================================================================================
                                                   Proposed             Proposed
        Title of                                    maximum              maximum
       securities             Amount to            offering             aggregate            Amount of
         to be                    be               price per            offering           registration
       Registered             Registered           share (1)            price(1)                fee

<S>                        <C>                     <C>                 <C>                  <C>
Common Stock  ($1.00
par value)                 1,800,000 shares        $33.03125           $59,456,250          $17,539.59

==========================================================================================================

</TABLE>

(1)  Based on the average of the high and low sales prices of the registrant's
     common stock as reported on the New York Stock Exchange on March 30, 1998
     in accordance with Rule 457(h)(i) and Rule 457(c).


<PAGE>


                                    PART II.
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.

         The following documents, which have been filed by Deluxe Corporation
(the "Company") with the Securities and Exchange Commission, are incorporated by
reference in this Registration Statement, as of their respective dates:

                  (a) The Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1997;

                  (b) The description of the Company's capital stock contained
in any registration statement or report filed by the Company under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any
amendment or report filed for the purpose of updating such description.

         All documents filed by the Company pursuant to Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act subsequent to the date hereof and prior to the
filing of a post-effective amendment which indicates that all securities offered
hereby have been sold or which deregisters all securities then remaining unsold,
shall be deemed to be incorporated by reference herein and to be a part hereof
from the respective dates of filing of such documents.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

         Section 302A.521, subd. 2, of the Minnesota Business Corporations Act
(the "MBCA") requires the Company to indemnify a person made or threatened to be
made a party to a proceeding by reason of the former or present official
capacity of the person with respect to the Company, against judgments,
penalties, fines, including, without limitation, excise taxes assessed against
the person with respect to an employee benefit plan, settlements, and reasonable
expenses, including attorneys' fees and disbursements, incurred by the person in
connection with the proceeding (collectively "Losses") with respect to the same
acts or omissions if such person: (1) has not been indemnified by another
organization or employee benefit plan for the same Losses; (2) acted in good
faith; (3) received no improper personal benefit, and statutory procedures have
been followed in the case of any conflict of interest by a director; (4) in the
case of a criminal proceeding, had no reasonable cause to believe the conduct
was unlawful; and (5) in the case of acts or omissions occurring in the person's
performance in the official capacity of director or, for a person not a
director, in the official capacity of officer, board committee member or
employee, reasonably believed that the conduct was in the best interests of the
Company, or, with respect to a director, officer, or employee of the Company
who, while a director, officer, or employee of the Company, is or was serving at
the request of the Company or whose duties in that position involve or involved
service as a director, officer, partner, trustee, employee, or agent of another
organization or employee benefit


<PAGE>

plan, reasonably believed that the conduct was not opposed to
the best interests of the Company. In addition, Section 302A.521, subd. 3 of the
MBCA, requires payment by the Company, upon written request, of reasonable
expenses in advance of final disposition of the proceeding in certain instances.
A decision as to required indemnification is made by a disinterested majority of
Board of Directors present at a meeting at which a disinterested quorum is
present, or by a designated committee of the Board, by special legal counsel, by
the disinterested shareholders or by a court.

         Article XII of the Company's Amended Articles of Incorporation provides
that no director of the Company shall be personally liable to the Company or its
shareholders for monetary damages for breach of fiduciary duty by such director
as a director. Article XII does not, however, limit or eliminate the liability
of a director to the extent provided by applicable law for (i) any breach of the
director's duty of loyalty to the Company or its shareholders, (ii) acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, (iii) authorizing a dividend, stock repurchase or redemption
or other distribution in violation of Minnesota law or for violation of certain
provisions of Minnesota securities laws, or (iv) any transaction from which the
director derived an improper personal benefit.

         The Bylaws of the Company provide that the Company shall indemnify such
persons, for expenses and liabilities, in such manner, under such circumstances
and to such extent as permitted by the provisions of the Minnesota Statutes
relating to indemnification of directors, officers and employees of Minnesota
corporations.

         The Company maintains an insurance policy or policies to assist in
funding indemnification of directors and officers for certain liabilities.

ITEM 8.  EXHIBITS.

<TABLE>
<CAPTION>

  Exhibit                                                                                     Method of
  Number                                     Description                                       Filing
  ------                                     -----------                                       ------
<S>          <C>                                                                                 <C>
    4.1      Amended and Restated Rights Agreement, dated as of January 31, 1997, by              *
             and between the Company and Norwest Bank Minnesota, National
             Association, as Rights Agent, which includes as Exhibit A thereto,
             the form of Rights Certificate (incorporated by reference to
             Exhibit 4.1 to the Company's Amendment No. 1 on Form 8-A/A-1 (File
             No. 001-07945) filed with the Securities and Exchange Commission
             (the "Commission") on February 7, 1997).

<PAGE>

    4.2      Indenture, relating to up to $150,000,000 of debt securities (incorporated           *
             by reference to Exhibit 4.1 to the Company's Registration Statement on
             Form S-3 (33-32279) filed with the Commission on November 24, 1989).

    4.3      Amended and Restated Credit Agreement, dated as of July 8, 1997, among the           *
             Company, Bank of America National Trust and Savings Association, as agent,
             and the other financial institutions party thereto related to a
             $150,000,000 committed line of credit (incorporated by reference to
             Exhibit 4.3 to the Company's Annual Report on Form 10-K for the year ended
             December 31, 1997).

     5       Opinion of Dorsey & Whitney re: legality.                                     Filed herewith

   23(a)     Consent of Deloitte & Touche, independent auditors.                           Filed herewith

   23(b)     Consent of Dorsey & Whitney (included in Exhibit 5 above).                    Filed herewith

    24       Power of Attorney.                                                            Filed herewith

</TABLE>

-----------------------

*Incorporated by reference

ITEM 9.  UNDERTAKINGS.

A. POST-EFFECTIVE AMENDMENTS.

         The undersigned registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post effective amendment to this registration statement:

                  (i)      To include any prospectus required by Section
                           10(a)(3) of the Securities Act of 1933;

                  (ii)     To reflect in the prospectus any facts or events
                           arising after the effective date of the registration
                           statement (or the most recent post-effective
                           amendment thereof) which, individually or in the
                           aggregate, represent a fundamental change in the
                           information set forth in the registration statement;

                  (iii)    To include any material information with respect to
                           the plan of distribution not previously disclosed in
                           the registration statement



<PAGE>

                           or any material change to such information in the
                           registration statement;

provided, however, that subparagraphs (i) and (ii) above will not apply if the
information required to be included in a post-effective amendment by those
subparagraphs is contained in periodic reports filed by the registrant pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in this registration statement.

         (2) That for the purpose of determining any liability under the
Securities Exchange Act of 1934, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.

         (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

B. SUBSEQUENT DOCUMENTS INCORPORATED BY REFERENCE.

         The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at the time shall be deemed to be the initial bona fide offering thereof.

C. CLAIMS FOR INDEMNIFICATION.

         Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or other controlling person of the
registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the opinion of
counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.

<PAGE>

                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Shoreview, State of Minnesota on the 31st day of
March, 1998

                           DELUXE CORPORATION
                           By    /s/ John A. Blanchard III
                                     John A. Blanchard III
                                     Chairman of the Board of Directors,
                                     President and Chief Executive Officer


         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated on the 31st day of March, 1998.

SIGNATURE                                                     TITLE

By    /s/  John A. Blanchard III       Chairman of the Board of Directors,
      John A. Blanchard III            President and Chief Executive Officer
                                       (Principal Executive Officer)

By   /s/ Thomas W. VanHimbergen        Senior Vice President and Chief
     Thomas W. VanHimbergen            Financial Officer (Principal Financial
                                       Officer and Principal Accounting Officer)

                *
     Whitney MacMillan                 Director

                *
     James J. Renier                   Director

                *
     Barbara B. Grogan                 Director


     Allen F. Jacobson                 Director


     Stephen P. Nachtsheim             Director

                *
     Calvin W. Aurand, Jr.             Director

<PAGE>

                *
     Donald R. Hollis                  Director


     Robert C. Salipante               Director

                *
     Jack Robinson                     Director


     Hatim A. Tyabji                   Director



     *By:     /s/ John A. Blanchard III
                  John A. Blanchard III
                  Attorney-in-Fact



<PAGE>


                                              EXHIBIT INDEX


    Number                Description                                      Page
    ------                -----------                                      ----
      5     Opinion of Dorsey & Whitney re:  legality.....................
     23(a)  Consent of Deloitte & Touche LLP, independent auditors........
     23(b)  Consent of Dorsey & Whitney (included in Exhibit 5 above).....
     24     Power of Attorney.............................................
[{"type": "S-8", "sequence": "1", "secsgml_size_bytes": 16654}]
{"company-data": {"conformed-name": "DELUXE CORP", "cik": "0000027996", "assigned-sic": "2780", "irs-number": "410216800", "state-of-incorporation": "MN", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-48967", "film-number": "98582285"}, "business-address": {"street1": "3680 VICTORIA STREET NORTH", "city": "SHOREVIEW", "state": "MN", "zip": "55126", "phone": "6124837111"}, "mail-address": {"street1": "3680 VICOTRIA STREET NORTH", "city": "SHOREVIEW", "state": "MN", "zip": "55126"}, "former-company": {"former-conformed-name": "DELUXE CHECK PRINTERS INC", "date-changed": "19880608"}}
As filed with the Securities and Exchange Commission on March 31, 1998

                                            Registration No. 33- _______________

--------------------------------------------------------------------------------

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                         -----------------------------

                                    FORM S-8
                             REGISTRATION STATEMENT
                        Under The Securities Act of 1933

                         -----------------------------

                               DELUXE CORPORATION
             (Exact name of registrant as specified in its charter)

          Minnesota                                              41-0216800
(State or other jurisdiction of                               (I.R.S. Employer
incorporation or organization)                               Identification No.)

                           3680 Victoria Street, North
                        Saint Paul, Minnesota 55126-2966
               (Address of principal executive offices) (Zip Code)

                             1998 DELUXESHARES PLAN
                            (Full title of the plan)

                                 John H. LeFevre
              Senior Vice President, General Counsel and Secretary
                               Deluxe Corporation
                           3680 Victoria Street, North
                        Saint Paul, Minnesota 55126-2966
                     (Name and address of agent for service)

                                 (612) 483-7008
          (Telephone number, including area code, of agent for service)

                         CALCULATION OF REGISTRATION FEE
==========================================================================================================
                                                   Proposed             Proposed
        Title of                                    maximum              maximum
       securities             Amount to            offering             aggregate            Amount of
         to be                    be               price per            offering           registration
       Registered             Registered           share (1)            price(1)                fee
Common Stock  ($1.00
par value)                 1,800,000 shares        $33.03125           $59,456,250          $17,539.59

==========================================================================================================
(1)  Based on the average of the high and low sales prices of the registrant's
     common stock as reported on the New York Stock Exchange on March 30, 1998
     in accordance with Rule 457(h)(i) and Rule 457(c).
PART II.
               INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

ITEM 3.  INCORPORATION OF DOCUMENTS BY REFERENCE.

         The following documents, which have been filed by Deluxe Corporation
(the "Company") with the Securities and Exchange Commission, are incorporated by
reference in this Registration Statement, as of their respective dates:

                  (a) The Company's Annual Report on Form 10-K for the fiscal
year ended December 31, 1997;

                  (b) The description of the Company's capital stock contained
in any registration statement or report filed by the Company under the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), including any
amendment or report filed for the purpose of updating such description.

         All documents filed by the Company pursuant to Sections 13(a), 13(c),
14 or 15(d) of the Exchange Act subsequent to the date hereof and prior to the
filing of a post-effective amendment which indicates that all securities offered
hereby have been sold or which deregisters all securities then remaining unsold,
shall be deemed to be incorporated by reference herein and to be a part hereof
from the respective dates of filing of such documents.

ITEM 6.  INDEMNIFICATION OF DIRECTORS AND OFFICERS.

         Section 302A.521, subd. 2, of the Minnesota Business Corporations Act
(the "MBCA") requires the Company to indemnify a person made or threatened to be
made a party to a proceeding by reason of the former or present official
capacity of the person with respect to the Company, against judgments,
penalties, fines, including, without limitation, excise taxes assessed against
the person with respect to an employee benefit plan, settlements, and reasonable
expenses, including attorneys' fees and disbursements, incurred by the person in
connection with the proceeding (collectively "Losses") with respect to the same
acts or omissions if such person: (1) has not been indemnified by another
organization or employee benefit plan for the same Losses; (2) acted in good
faith; (3) received no improper personal benefit, and statutory procedures have
been followed in the case of any conflict of interest by a director; (4) in the
case of a criminal proceeding, had no reasonable cause to believe the conduct
was unlawful; and (5) in the case of acts or omissions occurring in the person's
performance in the official capacity of director or, for a person not a
director, in the official capacity of officer, board committee member or
employee, reasonably believed that the conduct was in the best interests of the
Company, or, with respect to a director, officer, or employee of the Company
who, while a director, officer, or employee of the Company, is or was serving at
the request of the Company or whose duties in that position involve or involved
service as a director, officer, partner, trustee, employee, or agent of another
organization or employee benefit
plan, reasonably believed that the conduct was not opposed to
the best interests of the Company. In addition, Section 302A.521, subd. 3 of the
MBCA, requires payment by the Company, upon written request, of reasonable
expenses in advance of final disposition of the proceeding in certain instances.
A decision as to required indemnification is made by a disinterested majority of
Board of Directors present at a meeting at which a disinterested quorum is
present, or by a designated committee of the Board, by special legal counsel, by
the disinterested shareholders or by a court.

         Article XII of the Company's Amended Articles of Incorporation provides
that no director of the Company shall be personally liable to the Company or its
shareholders for monetary damages for breach of fiduciary duty by such director
as a director. Article XII does not, however, limit or eliminate the liability
of a director to the extent provided by applicable law for (i) any breach of the
director's duty of loyalty to the Company or its shareholders, (ii) acts or
omissions not in good faith or which involve intentional misconduct or a knowing
violation of law, (iii) authorizing a dividend, stock repurchase or redemption
or other distribution in violation of Minnesota law or for violation of certain
provisions of Minnesota securities laws, or (iv) any transaction from which the
director derived an improper personal benefit.

         The Bylaws of the Company provide that the Company shall indemnify such
persons, for expenses and liabilities, in such manner, under such circumstances
and to such extent as permitted by the provisions of the Minnesota Statutes
relating to indemnification of directors, officers and employees of Minnesota
corporations.

         The Company maintains an insurance policy or policies to assist in
funding indemnification of directors and officers for certain liabilities.

ITEM 8.  EXHIBITS.
Exhibit                                                                                     Method of
  Number                                     Description                                       Filing
  ------                                     -----------                                       ------
4.1      Amended and Restated Rights Agreement, dated as of January 31, 1997, by              *
             and between the Company and Norwest Bank Minnesota, National
             Association, as Rights Agent, which includes as Exhibit A thereto,
             the form of Rights Certificate (incorporated by reference to
             Exhibit 4.1 to the Company's Amendment No. 1 on Form 8-A/A-1 (File
             No. 001-07945) filed with the Securities and Exchange Commission
             (the "Commission") on February 7, 1997).
4.2      Indenture, relating to up to $150,000,000 of debt securities (incorporated           *
             by reference to Exhibit 4.1 to the Company's Registration Statement on
             Form S-3 (33-32279) filed with the Commission on November 24, 1989).

    4.3      Amended and Restated Credit Agreement, dated as of July 8, 1997, among the           *
             Company, Bank of America National Trust and Savings Association, as agent,
             and the other financial institutions party thereto related to a
             $150,000,000 committed line of credit (incorporated by reference to
             Exhibit 4.3 to the Company's Annual Report on Form 10-K for the year ended
             December 31, 1997).

     5       Opinion of Dorsey & Whitney re: legality.                                     Filed herewith

   23(a)     Consent of Deloitte & Touche, independent auditors.                           Filed herewith

   23(b)     Consent of Dorsey & Whitney (included in Exhibit 5 above).                    Filed herewith

    24       Power of Attorney.                                                            Filed herewith
-----------------------

*Incorporated by reference

ITEM 9.  UNDERTAKINGS.

A. POST-EFFECTIVE AMENDMENTS.

         The undersigned registrant hereby undertakes:

         (1) To file, during any period in which offers or sales are being made,
a post effective amendment to this registration statement:

                  (i)      To include any prospectus required by Section
                           10(a)(3) of the Securities Act of 1933;

                  (ii)     To reflect in the prospectus any facts or events
                           arising after the effective date of the registration
                           statement (or the most recent post-effective
                           amendment thereof) which, individually or in the
                           aggregate, represent a fundamental change in the
                           information set forth in the registration statement;

                  (iii)    To include any material information with respect to
                           the plan of distribution not previously disclosed in
                           the registration statement
or any material change to such information in the
                           registration statement;

provided, however, that subparagraphs (i) and (ii) above will not apply if the
information required to be included in a post-effective amendment by those
subparagraphs is contained in periodic reports filed by the registrant pursuant
to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 that are
incorporated by reference in this registration statement.

         (2) That for the purpose of determining any liability under the
Securities Exchange Act of 1934, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.

         (3) To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of
the offering.

B. SUBSEQUENT DOCUMENTS INCORPORATED BY REFERENCE.

         The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or Section 15(d) of the
Securities Exchange Act of 1934 that is incorporated by reference in the
registration statement shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities
at the time shall be deemed to be the initial bona fide offering thereof.

C. CLAIMS FOR INDEMNIFICATION.

         Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of
the registrant pursuant to the foregoing provisions, or otherwise, the
registrant has been advised that in the opinion of the Securities and Exchange
Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the registrant of expenses
incurred or paid by a director, officer or other controlling person of the
registrant in the successful defense of any action, suit or proceeding) is
asserted by such director, officer or controlling person in connection with the
securities being registered, the registrant will, unless in the opinion of
counsel the matter has been settled by controlling precedent, submit to a court
of appropriate jurisdiction the question whether such indemnification by it is
against public policy as expressed in the Act and will be governed by the final
adjudication of such issue.
SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, the
registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Shoreview, State of Minnesota on the 31st day of
March, 1998

                           DELUXE CORPORATION
                           By    /s/ John A. Blanchard III
                                     John A. Blanchard III
                                     Chairman of the Board of Directors,
                                     President and Chief Executive Officer

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed by the following persons in the
capacities indicated on the 31st day of March, 1998.

SIGNATURE                                                     TITLE

By    /s/  John A. Blanchard III       Chairman of the Board of Directors,
      John A. Blanchard III            President and Chief Executive Officer
                                       (Principal Executive Officer)

By   /s/ Thomas W. VanHimbergen        Senior Vice President and Chief
     Thomas W. VanHimbergen            Financial Officer (Principal Financial
                                       Officer and Principal Accounting Officer)

                *
     Whitney MacMillan                 Director

                *
     James J. Renier                   Director

                *
     Barbara B. Grogan                 Director

     Allen F. Jacobson                 Director

     Stephen P. Nachtsheim             Director

                *
     Calvin W. Aurand, Jr.             Director
*
     Donald R. Hollis                  Director

     Robert C. Salipante               Director

                *
     Jack Robinson                     Director

     Hatim A. Tyabji                   Director

     *By:     /s/ John A. Blanchard III
                  John A. Blanchard III
                  Attorney-in-Fact
EXHIBIT INDEX

    Number                Description                                      Page
    ------                -----------                                      ----
      5     Opinion of Dorsey & Whitney re:  legality.....................
     23(a)  Consent of Deloitte & Touche LLP, independent auditors........
     23(b)  Consent of Dorsey & Whitney (included in Exhibit 5 above).....
     24     Power of Attorney.............................................