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                                                                    EXHIBIT 10.3

                               eFUNDS CORPORATION
                        2001 EMPLOYEE STOCK PURCHASE PLAN
                           (AS AMENDED APRIL 19, 2001)

                             ARTICLE I. INTRODUCTION

Section 1.01 Purpose. The purpose of the eFunds Corporation 2001 Employee Stock
Purchase Plan (the "Plan") is to provide employees of eFunds Corporation, a
Delaware corporation (the "Company"), and certain related corporations with an
opportunity to share in the ownership of the Company by providing them with a
convenient means for regular and systematic purchases of the Company's Common
Stock, par value $.01 per share, and, thus, to develop a stronger incentive to
work for the continued success of the Company.

Section 1.02 Rules of Interpretation. It is intended that the Plan be an
"employee stock purchase plan" as defined in Section 423(b) of the Internal
Revenue Code of 1986, as amended (the "Code"), and Treasury Regulations
promulgated thereunder. Accordingly, the Plan shall be interpreted and
administered in a manner consistent therewith if so approved. All Participants
in the Plan will have the same rights and privileges consistent with the
provisions of the Plan.

Section 1.03 Definitions. For purposes of the Plan, the following terms will
have the meanings set forth below:

     "Acceleration Date" means the later of the date of stockholder approval (if
     such approval is a condition to the consummation of the proposed
     transaction) or approval by the Company's Board of Directors of (i) any
     consolidation or merger of the Company in which the Company is not the
     continuing or surviving corporation or pursuant to which shares of Company
     Common Stock would be converted into cash, securities or other property,
     other than a merger of the Company in which stockholders of the Company
     immediately prior to the merger have the same proportionate ownership of
     stock in the surviving corporation immediately after the merger; (ii) any
     sale, exchange or other transfer (in one transaction or a series of related
     transactions) of all or substantially all of the assets of the Company; or
     (iii) any plan of liquidation or dissolution of the Company.

     "Approved Retirement' shall mean any voluntary termination of employment
     with or services to the Company or any of its Subsidiaries which is on or
     after the later of the date on which (i) Participant's age is at least
     fifty-five (55) and (ii) Participant shall have completed at least five (5)
     years of continuous service with the Company and its Subsidiaries, or any
     other termination of service or employment that the Committee determines
     qualifies as an approved retirement. In determining the number of years of
     Participant's service years of employment with Deluxe Corporation, a
     Minnesota Corporation, or any of its Subsidiaries prior to December 29,
     2000 shall be included.

     "Board" means the board of directors of the Company.

     "Committee" means the committee described in Section 10.01.

     "Common Stock" means the Company's Common Stock, par value $.01 per share,
     as such stock may be adjusted for changes in the stock or the Company as
     contemplated by Article XI herein.

     "Company" means eFunds Corporation, a Delaware corporation, and its
     successors by merger or consolidation as contemplated by Article XI herein.

     "Current Compensation" means all regular wage, salary, bonus, and
     commission payments paid by the Company or by a Participating Subsidiary to
     a Participant in accordance with the terms of his or her employment.

     "Disability" shall mean the termination of Participant's employment with or
     services to the Company or any of its Subsidiaries due to Participant's
     permanent disability as defined by the provisions of the long-term
     disability plan of Participant's employer at the time of such disability.

     "Fair Market Value" as of a given date means such value of the Common Stock
     as reasonably determined by the Committee, but shall not be less than (i)
     the last sale price if the Common Stock is then quoted on the Nasdaq
     National Market System, (ii) the average of the closing representative bid
     and asked prices of the Common Stock as reported on the Nasdaq National
     Market System on the date as of which the fair market value is being
     determined, or (iii) the closing price of the Common Stock as reported for
     composite


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     transactions if the Common Stock is then traded on a national securities
     exchange. If on a given date the Common Stock is not traded on an
     established securities market, the Committee shall make a good faith
     attempt to satisfy the requirements of this Section 1.03 and in connection
     therewith shall take such action as it deems necessary or advisable.

     "Participant" means a Regular Full-Time Employee who is eligible to
     participate in the Plan under Section 2.01 and who has elected to
     participate in the Plan.

     "Participating Subsidiary" means a Subsidiary, which has been designated by
     the Board or Committee in advance of the Purchase Period in question as a
     corporation whose eligible Regular Full-Time Employees may participate in
     the Plan.

     "Plan" means the eFunds Corporation 2001 Employee Stock Purchase Plan, as
     may be amended from time to time, the provisions of which are set forth
     herein.

     "Purchase Period" means the approximate three-month period beginning on the
     first business day of each calendar quarter of each calendar year;
     provided, however, that the initial Purchase Period will commence on
     January 2, 2001 and will terminate on June 30, 2001. The Board of Directors
     of the Company shall have the power to change the duration of the Purchase
     Periods with respect to offerings without stockholder approval if such
     change is announced at least five days prior to the scheduled beginning of
     the first Purchase Period to be affected.

     "Regular Full-Time Employee" means an employee of the Company or a
     Participating Subsidiary as of the first day of a Purchase Period,
     including an officer or director who is also an employee, but excluding an
     employee whose customary employment is less than 20 hours per week and
     excluding an employee who is customarily employed for five months or less
     in a calendar year.

     "Stock Purchase Account" means the account maintained on the books and
     records of the Company recording the amount received from each Participant
     through payroll deductions made under the Plan.

     "Subsidiary" means any subsidiary corporation of the Company, as defined in
     Section 424(f) of the Code, whether now or hereafter acquired or
     established.

      ARTICLE II. ELIGIBILITY AND PARTICIPATION; INTERNATIONAL PARTICIPANTS

Section 2.01 Eligible Employees. All Regular Full-Time Employees shall be
eligible to participate in the Plan beginning on the first day of the first
Purchase Period to commence after such person becomes a Regular Full-Time
Employee. Subject to the provisions of Article VI, each such employee will
continue to be eligible to participate in the Plan so long as he or she remains
a Regular Full-Time Employee. To the extent that the Committee determines that
Treasury Regulation Section 1.401(K)-1(d)(2)(iv)(B)(4) applies to an eligible
Regular Full-Time Employee, such Regular Full-Time Employee will not be eligible
to participate in the Plan.

Section 2.02 Election to Participate. An eligible Regular Full-Time Employee may
elect to participate in the Plan for a given Purchase Period by submitting a
subscription agreement and any other required documents provided by the Company
(which authorize regular payroll deductions from Current Compensation beginning
with the first payday in that Purchase Period and continuing until the employee
withdraws from the Plan or ceases to be eligible to participate in the Plan)
with the Company's Human Resources Department, or a stock brokerage or other
financial services firm designated by the Company, no later than the fifteenth
day of the month in advance of that Purchase Period, and in accordance with such
terms and conditions as the Committee in its sole discretion may impose.
Notwithstanding the foregoing, the Committee may set a later time for submission
of the subscription agreement and any other required documents and may provide
that the subscription agreement and any other required documents may be
submitted electronically.

Section 2.03 Untimely Election to Participate. An eligible Regular Full-Time
Employee who does not submit a subscription agreement and any other required
documents provided by the Company (which authorize regular payroll deductions
from Current Compensation beginning with the first payday in that Purchase
Period and continuing until the employee withdraws from the Plan or ceases to be
eligible to participate in the Plan) with the Company's Human Resources
Department, or a stock brokerage or other financial services firm designated by
the Company, no later than the fifteenth day of the month in advance of that
Purchase Period, or such other date set by the Committee pursuant to Section
2.02, and in accordance with such terms and conditions as the Committee in its
sole discretion may impose, shall not participate until complying with the
requirements of Section 2.02.


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Section 2.04 Limits on Stock Purchase. No employee shall be granted any right to
purchase Common Stock hereunder if such employee, immediately after such a right
to purchase is granted, would own, directly or indirectly, within the meaning of
Section 423(b)(3) and Section 424(d) of the Code, Common Stock possessing 5% or
more of the total combined voting power or value of all the classes of the
capital stock of the Company or of all its Subsidiaries.

Section 2.05 Voluntary Participation. Participation in the Plan on the part of a
Participant is voluntary and such participation is not a condition of employment
nor does participation in the Plan entitle a Participant to be retained as an
employee.

Section 2.06 International Participants. The Committee shall have the power and
authority to allow employees of those Subsidiaries or other entities that are
not Participating Subsidiaries, who work or reside outside of the United States
on behalf of the Company an opportunity to acquire Common Stock pursuant to the
Plan in accordance with such special terms and conditions as the Committee may
designate with respect to each such Subsidiary. Without limiting the authority
of the Committee, the special terms and conditions which may be established with
respect to each such Subsidiary, and which need not be the same for all
Subsidiaries, include but are not limited to the right to participate,
procedures for elections to participate, the payment of any interest with
respect to amounts received from or credited to accounts held for the benefit of
Participants, the purchase price of any shares to be acquired, the length of any
purchase period, the maximum amount of contributions, credits or Stock which may
be acquired by any Participant, and a Participant's rights in the event of his
or her death, disability, withdrawal from the Plan, termination of employment on
behalf of the Company and all matters related thereto. This Section 2.06 is not
subject to Section 423 of the Code or any other provision of the Plan which
refers to or is based upon such Section. For tax purposes, this Section 2.06
shall be treated as separate and apart from the balance of the Plan.

                    ARTICLE III. PAYROLL DEDUCTIONS, COMPANY
                    CONTRIBUTIONS AND STOCK PURCHASE ACCOUNT

Section 3.01 Deduction from Pay. The forms described in Section 2.02 will permit
a Participant to elect payroll deductions of any multiple of 1% but not less
than 2% or more than 10% of such Participant's Current Compensation for each pay
period, subject to such other limitations as the Committee in its sole
discretion may impose. A Participant may cease making payroll deductions at any
time, subject to such limitations as the Committee in its sole discretion may
impose.

Section 3.02 Adjustments of Deduction in Pay. Participants may decrease or
increase the rate of payroll deductions in accordance with Section 3.01 by
submitting to the Company's Human Resources Department, or a stock brokerage or
other financial services firm designated by the Company, a new subscription
agreement and any other required documents no later than the fifteenth day of
the month in advance of that Purchase Period and in accordance with such terms
and conditions as the Committee in its sole discretion may impose.

Section 3.03 Credit to Account. Payroll deductions will be credited to the
Participant's Stock Purchase Account on each payday in accordance with Articles
IV and V hereof.

Section 3.04 Interest. No interest will be paid upon payroll deductions or any
amount credited to, or on deposit in, a Participant's Stock Purchase Account.

Section 3.06 Nature of Account. The Stock Purchase Account is established solely
for accounting purposes, and all amounts credited to the Stock Purchase Account
will remain part of the general assets of the Company or the Participating
Subsidiary (as the case may be). The Company may use amounts credited to the
Stock Purchase Account for any corporate purpose, and the Company shall not be
obligated to segregate such amounts credited to the Stock Purchase Account.

Section 3.07 No Additional Contributions. Unless otherwise determined by the
Committee, a Participant may not make any payment into the Stock Purchase
Account other than the payroll deductions made pursuant to the Plan.

                      ARTICLE IV. RIGHT TO PURCHASE SHARES

Section 4.01 Number of Shares. Each Participant will have the right to purchase
on the last business day of the Purchase Period all, but not less than all, of
the largest number of whole and fractional shares of Common Stock that can be
purchased at the price specified in Section 4.02 with the entire credit balance
in the Participant's Stock Purchase Account, subject to the limitations that (a)
no more than 1,000 shares of Common Stock may be purchased under the Plan by any
one Participant for a given Purchase Period (2,000 shares for the initial
six-month Purchase Period) and (b) in accordance with Section 423(b)(8) of the
Code, no more than $25,000 in Fair Market Value (determined at the beginning of
each Purchase Period) of Common Stock and other stock may be purchased under the
Plan and all other employee stock purchase plans (if any) of the Company and the
Subsidiaries by any one Participant for any calendar year. If the purchases for
all Participants would otherwise cause the aggregate number of shares of


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Common Stock to be sold under the Plan to exceed the number specified in Section
10.04, each Participant shall be allocated a pro rata portion of the Common
Stock to be sold.

Section 4.02 Purchase Price. The purchase price for any Purchase Period shall be
the lesser of (a) 85% of the Fair Market Value of the Common Stock on the first
business day of that Purchase Period or (b) 85% of the Fair Market Value of the
Common Stock on the last business day of that Purchase Period, in each case
rounded up to the next higher full cent.

                          ARTICLE V. EXERCISE OF RIGHT

Section 5.01 Purchase of Stock. On the last business day of a Purchase Period,
the entire credit balance in each Participant's Stock Purchase Account will be
used to purchase the largest number of whole and fractional shares of Common
Stock purchasable with such amount (subject to the limitations of Section 4.01),
unless the Participant has filed with the Company's Human Resources Department,
or a stock brokerage or other financial services firm designated by the Company,
in advance of the date set forth in Section 6.01 and subject to such terms and
conditions as the Committee in its sole discretion may impose, a form provided
by the Company which requests the distribution of the entire credit balance in
cash.

Section 5.02 Return of Excess Credit Balance. Any payroll deductions accumulated
in each Participant's Stock Purchase Account which are not used to purchase full
or fractional shares of Common Stock due to the limitations of Section 4.01
shall be returned to the Participant as soon as practicable, after the end of
the applicable Purchase Period, without interest.

Section 5.03 Notice of Acceleration Date. The Company shall use its best efforts
to notify each Participant in writing within at least ten days of any
Acceleration Date that the then current Purchase Period will end on such
Acceleration Date.

                 ARTICLE VI. WITHDRAWAL FROM PLAN; SALE OF STOCK

Section 6.01 Voluntary Withdrawal. A Participant may, in accordance with such
terms and conditions as the Committee in its sole discretion may impose,
withdraw from the Plan and cease making payroll deductions by filing with the
Company's Human Resources Department, or a stock brokerage or other financial
services firm designated by the Company, a form provided for this purpose at
least fifteen days prior to the end of the Purchase Period. In such event, the
entire credit balance in the Participant's Stock Purchase Account will be paid,
without interest, to the Participant in cash as soon as administratively
possible. A Participant who withdraws from the Plan will not be eligible to
reenter the Plan until such eligible Regular Full-Time Employee subsequently
files a timely election to re-enroll in the Plan pursuant to Section 2.02.

Section 6.02 Death. Subject to such terms and conditions as the Committee in its
sole discretion may impose, upon the death of a Participant, no further amounts
shall be credited to the Participant's Stock Purchase Account. Thereafter, on
the last business day of the Purchase Period during which such Participant's
death occurred and in accordance with Section 5.01, the entire credit balance in
such Participant's Stock Purchase Account will be used to purchase Common Stock,
unless such Participant's estate has filed with the Company's Human Resources
Department, or a stock brokerage or other financial services firm designated by
the Company, at least fifteen days prior to the end of the Purchase Period, a
form provided by the Company which elects to have the entire credit balance in
such Participant's Stock Account distributed in cash as soon as administratively
possible after the end of that Purchase Period or at such earlier time as the
Committee in its sole discretion may decide. Each Participant, however, may
designate one or more beneficiaries who, upon death, are to receive the Common
Stock or the amount that otherwise would have been distributed or paid to the
Participant's estate and may change or revoke any such designation from time to
time. No such designation, change or revocation will be effective unless made by
the Participant in writing and filed with the Company during the Participant's
lifetime. Unless the Participant has otherwise specified in the beneficiary
designation, the beneficiary or beneficiaries so designated will become fixed as
of the date of the death of the Participant so that, if a beneficiary survives
the Participant but dies before the receipt of the payment due such beneficiary,
the payment will be made to such beneficiary's estate.

Section 6.03 Termination of Employment. Subject to such terms and conditions as
the Committee in its sole discretion may impose, upon a Participant's normal or
early retirement with the consent of the Company under any pension or retirement
plan of the Company or Participating Subsidiary, no further amounts shall be
credited to the Participant's Stock Purchase Account. Thereafter, on the last
business day of the Purchase Period during which such Participant's approved
retirement occurred and in accordance with Section 5.01, the entire credit
balance in such Participant's Stock Purchase Account will be used to purchase
Common Stock, unless such Participant has filed with the Company's Human
Resources Department, or a stock brokerage or other financial services firm
designated by the Company, at least fifteen days prior to the end of the
Purchase Period, a form provided by the Company which elects to receive the
entire credit balance in such Participant's Stock Purchase Account in cash as
soon as administratively possible after the end of that Purchase Period,
provided that such Participant shall have no right to purchase Common Stock in
the


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event that the last day of such a Purchase Period occurs more than three
months following the termination of such Participant's employment with the
Company by reason of such an approved retirement. In the event of any other
termination of employment (other than death) with the Company or a Participating
Subsidiary, participation in the Plan will cease on the date the Participant
ceases to be a Regular Full-Time Employee for any reason. In such event, the
entire credit balance in such Participant's Stock Purchase Account will be paid
in cash to the Participant as soon as administratively possible. For purposes of
this Section 6.03, a transfer of employment to any Participating Subsidiary or a
leave of absence which has been approved by the Committee will not be deemed a
termination of employment as a Regular Full-Time Employee.

                         ARTICLE VII. NONTRANSFERABILITY

Section 7.01 Nontransferable Right to Purchase. The right to purchase Common
Stock hereunder may not be assigned, transferred, pledged or hypothecated
(whether by operation of law or otherwise), except as provided in Section 6.02,
and will not be subject to execution, attachment or similar process. Any
attempted assignment, transfer, pledge, hypothecation or other disposition or
levy of attachment or similar process upon the right to purchase will be null
and void and without effect.

Section 7.02 Nontransferable Account. Except as provided in Section 6.02, the
amounts credited to a Stock Purchase Account may not be assigned, transferred,
pledged or hypothecated in any way, and any attempted assignment, transfer,
pledge, hypothecation or other disposition of such amounts will be null and void
and without effect.

Section 7.03 Nontransferable Shares. Except as the Committee shall otherwise
permit, the Common Stock purchased by a Participant at the end of such Purchase
Period pursuant to Section 5.01 may not be sold, assigned, transferred, pledged
or hypothecated prior to the earlier to occur of (i) the death, disability or
Approved Retirement of the Participant, (ii) the Acceleration Date and (iii) the
first anniversary of the end of such Purchase Period in any way, and any
attempted sale, assignment, transfer, pledge, hypothecation or other disposition
of such share or shares during such period will be null and void and without
effect. Thereafter, a Stock certificate or other rights may be delivered in
accordance with Section 8.04 hereof.

                       ARTICLE VIII. COMMON STOCK ISSUANCE

Section 8.01 Issuance of Purchased Shares. Promptly after the last day of each
Purchase Period and subject to such terms and conditions as the Committee in its
sole discretion may impose, the Company will cause the Common Stock then
purchased pursuant to Section 5.01 of the Plan to be issued for the benefit of
the Participant and held in the Plan pursuant to Section 8.03 of the Plan.

Section 8.02 Completion of Issuance. A Participant shall have no interest in the
Common Stock purchased pursuant to Section 5.01 of the Plan until such Common
Stock is issued for the benefit of the Participant pursuant to Section 8.03 of
the Plan.

Section 8.03 Form of Ownership. The Common Stock issued under Section 8.01 of
the Plan will be held in the Plan in the name of the Participant or jointly in
the name of the Participant and another person, as the Participant may direct on
a form provided by the Company, until such time as certificates for such shares
of Common Stock are delivered to or for the benefit of the Participant pursuant
to Section 8.04 of the Plan.

Section 8.04 Delivery. At any time following the conclusion of the
nontransferability period set forth in Section 7.03 of the Plan and subject to
such terms and conditions as the Committee in its sole discretion may impose, by
filing with the Company a form provided by the Company for such purpose, a
Participant may elect to have the Company cause to be delivered to or for the
benefit of the Participant a certificate for the number of whole shares, and
cash for the number of fractional shares, representing the Common Stock
purchased pursuant to Section 5.01 of the Plan. The election notice will be
processed as soon as practicable after receipt.

Section 8.05 Securities Laws. The Company shall not be required to issue or
deliver any shares of Common Stock until the requirements of any federal or
state securities laws, rules or regulations or other laws or rules (including
the rules of the Nasdaq National Market System or any stock exchange upon which
the Common Stock may then be listed or admitted for trading), as may be
determined by the Company to be applicable, are satisfied.

                    ARTICLE IX. EFFECTIVE DATE, AMENDMENT AND
                               TERMINATION OF PLAN

Section 9.01 Effective Date. The Plan was approved by the Board of Directors on
December 8, 2000 and shall be approved by the stockholders of the Company within
twelve months thereof.


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Section 9.02 Plan Commencement. The initial Purchase Period under the Plan will
commence on January 2, 2001. Thereafter, each succeeding Purchase Period will
commence and terminate in accordance with Section 1.03.

Section 9.03 Powers of Board. The Board of Directors may amend or discontinue
the Plan at any time. No amendment or discontinuation of the Plan, however,
shall without stockholder approval be made that: (i) requires stockholder
approval under any rules or regulations of the National Association of
Securities Dealers, Inc. or any securities exchange that are applicable to the
Company or (ii) permits the issuance of Common Stock before payment therefor in
full.

Section 9.04 Automatic Termination. The Plan shall automatically terminate when
all of the shares of Common Stock provided for in Section 10.04 have been sold.

                            ARTICLE X. ADMINISTRATION

Section 10.01 The Committee. Subject to the provisions of Section 10.03, the
Plan shall be administered by a committee (the "Committee") of two or more
directors of the Company. The members of the Committee shall be appointed by and
serve at the pleasure of the Board of Directors.

Section 10.02 Powers of Committee. Subject to the provisions of the Plan, the
Committee shall have full authority to administer the Plan, including authority
to interpret and construe any provision of the Plan, to establish deadlines by
which the various administrative forms must be received in order to be
effective, and to adopt such other rules and regulations for administering the
Plan as it may deem appropriate. The Committee shall have full and complete
authority to determine whether all or any part of the Common Stock acquired
pursuant to the Plan shall be subject to restrictions on the transferability
thereof or any other restrictions affecting in any manner a Participant's rights
with respect thereto but any such restrictions shall be contained in the
documents by which a Participant elects to participate in the Plan pursuant to
Section 2.02. Decisions of the Committee will be final and binding on all
parties who have an interest in the Plan.

Section 10.03 Power and Authority of the Board. Notwithstanding anything to the
contrary contained herein, the Board, at any time and from time to time, without
any further action of the Committee, may exercise the powers and duties of the
Committee under this Plan. Moreover, the Board shall have the right to delegate
any or all of its rights and duties under the Plan (other than the authority to
amend the Plan) to any committee of the Board.

Section 10.04 Stock to be Sold. The Common Stock to be issued and sold under the
Plan may be treasury shares or authorized but unissued shares, or the Company
may purchase Common Stock in the market for sale under the Plan. Except as
provided in Section 11.01, the aggregate number of shares of Common Stock to be
sold under the Plan will not exceed 2,275,000 shares.

Section 10.05 Notices. Notices to the Committee should be addressed as follows:

                    eFunds Corporation
                    7272 East Indian School Road
                    Scottsdale,  AZ 85251
                    ATTN: Corporate Secretary

             ARTICLE XI. ADJUSTMENT FOR CHANGES IN STOCK OR COMPANY

Section 11.01 Stock Dividend or Reclassification. If the outstanding shares of
Common Stock are increased, decreased, changed into or exchanged for a different
number or kind of securities of the Company, or shares of a different par value
or without par value, through reorganization, recapitalization,
reclassification, stock dividend, stock split, amendment to the Company's
Certificate of Incorporation, reverse stock split or otherwise, an appropriate
adjustment shall be made in the maximum numbers and kind of securities to be
purchased under the Plan with a corresponding adjustment in the purchase price
to be paid therefor.

Section 11.02 Merger or Consolidation. If the Company is merged into or
consolidated with one or more corporations during the term of the Plan,
appropriate adjustments will be made to give effect thereto on an equitable
basis in terms of issuance of shares of the corporation surviving the merger or
of the consolidated corporation, as the case may be.

                           ARTICLE XII. APPLICABLE LAW

Rights to purchase Common Stock granted under the Plan shall be construed and
shall take effect in accordance with the laws of the State of Delaware.




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