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                                                                   EXHIBIT 10.21

                               eFUNDS CORPORATION
                         EXECUTIVE EMPLOYMENT AGREEMENT

     THIS AGREEMENT ("Agreement"), Dated May 9, 2000, by and between eFunds
Corporation, a Delaware corporation (the "Company"), and John A. Blanchard III
(the "Executive").

     WHEREAS, the Company and the Executive wish to enter into an employment
agreement on the terms and conditions set forth herein.

     NOW, THEREFORE, in consideration of the premises and the respective
undertakings of the Company and the Executive set forth below, the Company and
the Executive agree as follows:

I.   Certain Definitions.

     A.   "Affiliate" shall mean a company controlled directly or indirectly by
          the Company where "control" shall mean the right, either directly or
          indirectly, to elect a majority of the directors thereof without the
          consent or acquiescence of any third party.

     B.   "Beneficial Owner" shall have the meaning defined in Rule 13d-3
          promulgated under the Securities Exchange Act of 1934, as amended.

     C.   "Business Combination" shall mean the occurrence of either a Change of
          Control or an Other Business Combination.

     D.   "Change of Control" shall be deemed to have occurred if the conditions
          set forth in any one of the following paragraphs shall have been
          satisfied:

          1.   any Person is or becomes the Beneficial Owner, directly or
               indirectly, of securities of the Company representing 20% or more
               of the combined voting power of the Company's then outstanding
               securities, excluding, at the time of their original acquisition,
               from the securities acquired directly or beneficially by such
               Person any securities acquired directly from the Company or its
               Affiliates or in connection with a transaction described in
               clause (a) of paragraph 3 below; or

          2.   the individuals who at the date of this Agreement constitute the
               Board and any new director (other than a director whose initial
               assumption of office is in connection with an actual or
               threatened election contest, including but not limited to a
               consent solicitation, relating to the election of directors of
               the Company) whose appointment or election by the Board or
               nomination
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               for election by the Company's shareholders was approved or
               recommended by a vote of at least two-thirds (2/3) of the
               directors then still in office who either were directors as of
               the date of this Agreement or whose appointment, election or
               nomination for election was previously so approved, cease for any
               reason to constitute a majority thereof; or

          3.   there is consummated a merger or consolidation of the Company or
               any Affiliate with any other company, other than (a) a merger or
               consolidation which would result in the voting securities of the
               Company outstanding immediately prior thereto continuing to
               represent (either by remaining outstanding or by being converted
               into voting securities of the surviving entity or any parent
               thereof), in combination with the ownership of any trustee or
               other fiduciary holding securities under an employee benefit plan
               of the Company or any Affiliate, at least 65% of the combined
               voting power of the voting securities of the Company or such
               surviving entity or any parent thereof outstanding immediately
               after such merger or consolidation, or (b) a merger or
               consolidation effected to implement a recapitalization of the
               Company (or similar transaction) in which no Person is or becomes
               the Beneficial Owner, directly or indirectly, of securities of
               the Company representing 20% or more of the combined voting power
               of the Company's then outstanding securities; or

          4.   the shareholders of the Company approve a plan of complete
               liquidation of the Company or there is consummated an agreement
               for the sale or disposition by the Company of all or
               substantially all the Company's assets, other than a sale or
               disposition by the Company of all or substantially all of the
               Company's assets to an entity, at least 65% of the combined
               voting power of the voting securities of which are owned by
               shareholders of the Company in substantially the same proportions
               as their ownership of the Company immediately prior to such sale.

          5.   Notwithstanding the foregoing, a "Change in Control" shall not be
               deemed to have occurred by virtue of the consummation of any
               transaction or series of integrated transactions immediately
               following which the record holders of the common stock of the
               Company immediately prior to such transaction or series of
               transactions continue to have substantially the same
               proportionate ownership in an entity which owns all or
               substantially all of the assets of the Company immediately
               following such transaction or series of transactions.

     E.   "Other Business Combination" shall mean the occurrence of any merger,
          exchange, transfer, or other form of business combination or
          acquisition (but not including dispositions), whether involving
          assets, shares or any other form of ownership interest, by the Company
          or any of its Affiliates of or with one or more other corporations,
          partnerships or other entities in a single transaction or a series

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          of related transactions for consideration aggregating more than 40% of
          the Company's total outstanding equity capitalization (number of
          shares outstanding immediately prior to the transaction multiplied by
          the average closing price of the Company's shares during the 30 day
          period preceding the announcement of the transaction) or more
          (regardless of the form of consideration or the method or time of
          payment).

     F.   "Person" shall have the meaning defined in Sections 3(a)(9) and 13(d)
          of the Securities Exchange Act of 1934, as amended, except that such
          term shall not include (I) the Company or any of its subsidiaries,
          (ii) a trustee or other fiduciary holding securities under an employee
          benefit plan of the Company or any of its Affiliates, (iii) an
          underwriter temporarily holding securities pursuant to an offering of
          such securities, or (iv) a corporation owned, directly or indirectly,
          by the shareholders of the Company in substantially the same
          proportions as their ownership of stock of the Company.

II. Employment Period. Upon the terms and conditions set forth herein, the
Company hereby employs the Executive, and the Executive accepts such employment,
commencing on the date (the "Start Date") Deluxe Corporation, a Minnesota
corporation, ("Deluxe"), completes an exchange offer pursuant to which Deluxe
distributes all of its shares of the Company's common stock to its shareholders
in exchange for shares of Deluxe common stock (the "Split Off"). The term of
this Agreement shall commence upon the Start Date and shall continue until
December 31, 2002 (the "Employment Period"), unless earlier terminated as
provided in this Agreement. Upon the expiration of the Employment Period, the
Executive's employment with the Company will cease. The parties specifically
agree that any expiration of the Employment Period is not a termination of
employment within the meaning of Section V. of this Agreement. The parties
further agree that this Agreement is contingent upon the occurrence of the Split
Off and that if the Split Off does not so occur, this Agreement shall be void
and of no further effect.

III. Terms of Employment.

     A.   Position and Duties.

          1.   During the Employment Period, the Executive agrees to serve as
               Chairman and Chief Executive Officer of the Company and to
               perform such other reasonable employment duties, consistent with
               the Executive's position and as the Board of Directors of the
               Company (the "Board") shall assign to him from time to time.

          2.   During the Employment Period, and excluding any periods of
               vacation and sick leave to which the Executive is entitled, the
               Executive agrees to devote reasonable attention and time during
               normal business hours to the business and affairs of the Company
               and, to the extent necessary to discharge the responsibilities
               assigned to the Executive hereunder, to use the Executive's
               reasonable efforts to perform faithfully and efficiently such

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               responsibilities. During the Employment Period it shall not be a
               violation of this Agreement for the Executive to (a) serve on
               corporate, civic or charitable boards or committees, (b) deliver
               lectures, fulfill speaking engagements or teach at educational
               institutions and (c) manage personal investments, so long as such
               activities do not significantly interfere with the performance of
               the Executive's responsibilities as an employee of the Company in
               accordance with this Agreement.

     B.   Compensation.

          1.   Base Salary. During the Employment Period, the Company shall pay
               the Executive an annual base salary ("Annual Base Salary") of
               $680,000.00 (or such higher amount as may be determined at the
               discretion of the Board), which Annual Base Salary shall be paid
               in accordance with the Company's normal payroll procedures and
               policies.

          2.   Annual Bonus. In addition to Annual Base Salary, the Executive
               shall be eligible to be paid, for each fiscal year ending during
               the Employment Period (ratably apportioned in the case of any
               fiscal year which is not included within the Employment Period in
               its entirety) an annual bonus (the "Annual Bonus") in cash. The
               Executive's target Annual Bonus for each fiscal year during the
               Employment Period will be 100% of the Executive's Annual Base
               Salary for that fiscal year, provided that the Annual Bonus paid
               in each fiscal year during the Employment Period will be subject
               to the terms and conditions of the Company's bonus plan
               applicable to members of the Company's Executive Team. Each such
               Annual Bonus shall be paid no later than the end of the third
               month after the fiscal year for which the Annual Bonus is
               awarded, unless the Executive shall elect to defer the receipt of
               such Annual Bonus.

          3.   Stock Options. During the Employment Period, the Executive shall
               be entitled to participate in the eFunds Corporation 2000 Stock
               Incentive Plan on the same terms and conditions as other members
               of the Company's Executive Team, it being understood and agreed
               that Executive will be eligible for option grants commensurate
               with his status as Chief Executive Officer.

          4.   Savings, Retirement and Other Incentive Plans. During the
               Employment Period, the Executive shall be entitled to participate
               in all other incentive, savings and retirement plans, practices,
               policies and programs applicable generally to other members of
               the Company's Executive Team.

          5.   Welfare Benefit Plans. During the Employment Period, the
               Executive and/or the Executive's family, as the case may be,
               shall be eligible for participation in and shall receive all
               benefits under all welfare

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               benefit plans, practices, policies and programs provided by the
               Company (including, without limitation, medical, prescription,
               dental, disability, employee life, group life, accidental death
               and travel accident insurance plans and programs) to the
               Executive and/or the Executive's family, to the extent applicable
               generally to other members of the Company's Executive Team.

          6.   Expenses. During the Employment Period, the Executive shall be
               entitled to receive prompt reimbursement for all reasonable
               expenses incurred by the Executive in accordance with the
               policies, practices and procedures of the Company.

          7.   Fringe Benefits. During the Employment Period, the Executive
               shall be entitled to fringe benefits, including, without
               limitation, tax and financial planning services, use or
               reimbursement for the use of an automobile, as the case may be,
               and payment of related expenses, in accordance with the plans,
               practices, programs and policies of the Company.

          8.   Vacation. During the Employment Period, the Executive shall be
               entitled to paid vacation and holidays in accordance with the
               plans, policies, programs and practices of the Company.

          9.   Supplemental Retirement Payment. In recognition of the fact that
               the Executive has terminated the October 11, 1995 memorandum from
               Deluxe Corporation to the Executive (the "Memorandum"), which
               Memorandum was designed to provide the Executive with
               supplemental retirement benefits, and in recognition that,
               effective as of the Start Date, the Executive has waived any and
               all rights to receive any payments and benefits pursuant to the
               Memorandum, the Company will pay to the Executive, on or about
               January 2, 2003, the total sum of $490,768.00, less legally
               required deductions and withholdings. The Executive may elect to
               receive this payment in a lump sum or as an actuarially
               equivalent annuity over a 15 year period.

IV. Business Combination; Expiration of Employment Period. In the event of a
business combination (as defined in Section I.C.), the Company shall take all
such action as may be required fully and immediately to vest all outstanding,
unvested options that may have been granted to the Executive under the Company's
Stock Incentive Plan and any successor or replacement plan and all other
restricted shares, restricted stock units, and SARs theretofore granted the
Executive under any stock based compensation plan, except as may be otherwise
specifically provided in any given award agreement. Similarly, all outstanding,
unvested options, restricted shares, restricted stock units and SARs theretofore
granted to the Executive under any such plan shall, except as may be otherwise
specifically provided in any given award agreement, fully and immediately vest
upon the expiration of the Employment Period if the Executive remains in the
employ of the Company through such date of expiration.

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V. Termination of Employment.

     A.   Death or Disability. The Executive's employment shall terminate
          automatically upon the Executive's death during the Employment Period.
          If the Company determines in good faith that the Disability of the
          Executive has occurred during the Employment Period (pursuant to the
          definition of Disability set forth below), it may give a Notice of
          Termination to the Executive in accordance with Sections V.D. and
          XII.B. of this Agreement of its intention to terminate the Executive's
          employment. In such event, the Executive's employment with the Company
          shall terminate effective on the 30th day after receipt of the Notice
          of Termination by the Executive (unless such date is extended as
          provided in Section V.F.), provided that, within the 30 days after
          such receipt, the Executive shall not have returned to full-time
          performance of the Executive's duties. For purposes of this Agreement,
          "Disability" shall mean the absence of the Executive from the
          Executive's duties with the Company on a full-time basis for 180
          consecutive days as a result of incapacity due to mental or physical
          illness which is determined to be total and permanent by a physician
          selected by the Company or its insurers and acceptable to the
          Executive or the Executive's legal representative.

     B.   Cause. The Company may terminate the Executive's employment during the
          Employment Period with or without Cause. For purposes of this
          Agreement, "Cause" shall mean:

          1.   the willful and continued failure of the Executive to perform
               substantially the Executive's material duties with the Company
               (other than any such failure resulting from incapacity due to
               physical or mental illness, or any such actual or anticipated
               failure after the issuance of a Notice of Termination for Good
               Reason by the Executive pursuant to Section V.D. hereof), after a
               written demand for substantial performance is delivered to the
               Executive by the Board which specifically identifies the manner
               in which the Board believes that the Executive has not
               substantially performed the Executive's duties, or

          2.   the willful engaging by the Executive in illegal conduct or gross
               misconduct which is materially and demonstrably injurious to the
               Company.

          For purposes of this provision, (a) no act or failure to act, on the
          part of the Executive, shall be considered "willful" unless it is
          done, or omitted to be done, by the Executive in bad faith or without
          reasonable belief that the Executive's action or omission was in the
          best interests of the Company and (b) in the event of a dispute
          concerning the application of this provision, no claim by the Company
          that Cause exists shall be given effect unless the Company establishes
          to the Committee (as defined in Section XII.J.) by clear and
          convincing evidence that

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          Cause exists. Any act, or failure to act, based upon authority given
          pursuant to a resolution duly adopted by the Board or based upon the
          advice of counsel for the Company shall be conclusively presumed to be
          done, or omitted to be done, by the Executive in good faith and in the
          best interests of the Company.

     C.   Good Reason. The Executive's employment during the Employment Period
          may be terminated by the Executive for Good Reason or without Good
          Reason. For purposes of this Agreement, "Good Reason" shall mean:

          1.   except with Executive's written consent given in his discretion,
               the assignment to the Executive of any duties inconsistent in any
               respect with the Executive's position (including status, offices,
               titles and reporting requirements), authority, duties or
               responsibilities as contemplated by Section III.A. of this
               Agreement, or any other action by the Company which results in a
               diminution in such position, authority, duties or
               responsibilities, excluding for this purpose an isolated,
               insubstantial or inadvertent action not taken in bad faith and
               which is remedied by the Company promptly after receipt of notice
               thereof given by the Executive;

          2.   any failure by the Company to comply with any of the provisions
               of Section III.B. of this Agreement, other than an isolated,
               insubstantial and inadvertent failure not occurring in bad faith
               and which is remedied by the Company promptly after receipt of
               notice thereof given by the Executive;

          3.   the Company's requiring the Executive to maintain his principal
               residence at any location outside the metropolitan
               Minneapolis-St. Paul, Minnesota area;

          4.   any purported termination by the Company of the Executive's
               employment which is not effected pursuant to a Notice of
               Termination satisfying the requirements of Section V.D. hereof
               and otherwise expressly permitted by this Agreement. For purposes
               of this Agreement, no such purported termination shall be
               effective;

          5.   any failure by the Company to comply with and satisfy Section
               XI.C. of this Agreement; or

          6.   any request or requirement by the Company that the Executive take
               any action or omit to take any action that is inconsistent with
               or in violation of the Company's ethical guidelines and policies
               or any professional ethical guidelines or principles that may be
               applicable to the Executive.

          For purposes of this Section V.C., any good faith claim of "Good
          Reason" made by the Executive shall be presumed to be correct unless
          the Company establishes to the Committee by clear and convincing
          evidence that Good Reason does not

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          exist. The Executive's right to terminate the Executive's employment
          for Good Reason shall not be affected by the Executive's incapacity
          due to physical or mental illness. The Executive's continued
          employment shall not constitute a consent to, or a waiver of rights
          with respect to, any act or failure to act constituting Good Reason
          hereunder.

     D.   Notice of Termination. Any purported termination of the Executive's
          employment during the Employment Period (other than by reason of
          death) shall be communicated by Notice of Termination to the other
          party hereto given in accordance with Section XII.B. of this
          Agreement. For purposes of this Agreement, a "Notice of Termination"
          means a written notice which (1) indicates the specific termination
          provision in this Agreement relied upon (or that Executive's
          employment is being terminated by the Company without Cause or by the
          Executive without Good Reason), (2) to the extent applicable, sets
          forth in reasonable detail the facts and circumstances claimed to
          provide a basis for termination of the Executive's employment under
          the provision so indicated and (3) if the Date of Termination (as
          defined below) is other than the date of receipt of such notice,
          specifies the termination date (which date shall be not more than
          thirty days after the giving of such notice). Further, a Notice of
          Termination for Cause is required to include a copy of a resolution
          duly adopted by the affirmative vote of not less than three-quarters
          of the entire membership of the Board at a meeting of the Board called
          and held for such purpose (after reasonable notice is provided to the
          Executive and the Executive is given an opportunity, together with
          counsel, to be heard before the Board), finding that, in the good
          faith opinion of the Board, the Executive is guilty of the conduct
          described in subparagraph B.1. or B.2. above, and specifying the
          particulars thereof in detail. The failure by the Executive or the
          Company to set forth in the Notice of Termination any fact or
          circumstance which contributes to a showing of Disability, Good Reason
          or Cause shall not waive any right of the Executive or the Company,
          respectively, hereunder or preclude the Executive or the Company,
          respectively, from asserting such fact or circumstance in enforcing
          the Executive's or the Company's rights hereunder;

     E.   Date of Termination. "Date of Termination" means (1) if the
          Executive's employment is terminated by the Company for Cause, or by
          the Executive for Good Reason or any other reason, the date of receipt
          of the Notice of Termination or any later date specified therein, as
          the case may be, (2) if the Executive's employment is terminated
          during the term of this Agreement by the Company other than for Cause
          or Disability, the Date of Termination shall be the date on which the
          Company notifies the Executive of such termination, (3) if the
          Executive's employment is terminated by reason of death during the
          Employment Period, the Date of Termination shall be the date of death
          of the Executive and (4) if the Executive's employment is terminated
          by the Company for Disability, the date Executive's employment is
          terminated as provided in Section V.A.; provided,

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          however, the Date of Termination specified in this Section E. may be
          extended to the date of termination (if applicable) provided in
          Section V.F.

     F.   Dispute Concerning Termination. If within fifteen (15) days after any
          Notice of Termination is given, or, if later, prior to the Date of
          Termination (as determined without regard to this Section V.F.), the
          party receiving such Notice of Termination notifies the other party
          that a dispute exists concerning whether a termination has properly
          been characterized as for Cause, Good Reason or Disability, the Date
          of Termination shall be extended until the earlier of (i) the date on
          which the Employment Period ends or (ii) the date on which the dispute
          is finally resolved, either by mutual written agreement of the parties
          or by a final judgment, order or decree of an arbitrator or a court of
          competent jurisdiction (which is not appealable or with respect to
          which the time for appeal therefrom has expired and no appeal has been
          perfected); provided, however, that the Date of Termination shall be
          extended by a notice of dispute given -------- ------- by the
          Executive only if such notice is given in good faith and the Executive
          pursues the resolution of such dispute with reasonable diligence.

     G.   Compensation During Dispute. If a purported termination occurs during
          the Employment Period and the Date of Termination is extended in
          accordance with Section V.F. hereof, the Company shall continue to pay
          the Executive the full compensation in effect when the notice giving
          rise to the dispute was given (including, but not limited to, salary)
          and continue the Executive as a participant in all compensation,
          benefit and insurance plans in which the Executive was participating
          when the notice giving rise to the dispute was given, until the Date
          of Termination, as determined in accordance with Section V.F. hereof.

VI. Obligations of the Company upon Termination.

     A.   Good Reason; Other Than for Cause. If, during the Employment Period,
          the Company shall terminate the Executive's employment other than for
          Cause or Disability or by reason of the death of the Executive or if
          the Executive shall terminate employment for Good Reason:

          1.   the Company shall pay to the Executive in a lump sum in cash
               within 5 days after the Date of Termination the aggregate of the
               following amounts:

               (a)  the sum of (i) the Executive's Annual Base Salary through
                    the Date of Termination to the extent not theretofore paid,
                    (ii) any Annual Bonus paid or payable in respect of the most
                    recently completed fiscal year of the Company, to the extent
                    such amount is determinable and not theretofore paid, and
                    (iii) unless otherwise specified by Executive or prhibited
                    by the terms of any deferral agreement, any compensation
                    previously deferred by the Executive (together with any
                    accrued interest or earnings thereon) and any

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                    accrued vacation pay, in each case to the extent not
                    theretofore paid (the sum of the amounts described in
                    clauses (i), (ii) and (iii) shall be hereinafter referred to
                    as the "Accrued Obligations"). In the event Executive's
                    Annual Bonus for the most recently completed fiscal year of
                    the Company is not determinable on the Date of Termination,
                    such Annual Bonus shall be paid to Executive in a lump sum,
                    in cash, within five days after the date the amount of such
                    Annual Bonus is determinable; and

               (b)  an amount equal to the remainder of the Annual Base Salary
                    that would have been earned by the Executive had the
                    Executive remained continuously employed throughout the
                    Employment Period; and

               (c)  an amount equal to the higher of (i) any Annual Bonus paid
                    or payable to the Executive in respect of any fiscal year
                    completed prior to the Date of Termination, including any
                    portion thereof which has been earned but deferred, or (ii)
                    the amount of the Annual Bonus(es) that would have been
                    earned by the Executive had the Executive remained
                    continuously employed throughout the Employment Period and
                    had the Executive been awarded a target Annual Bonus of 100%
                    of the Executive's Annual Base Salary for each remaining
                    fiscal year in the Employment Period, multiplied, in each
                    case, by the remaining number of fiscal years which will end
                    during the remaining portion of the Employment Period.

          2.   to the extent not theretofore paid or provided, the Company shall
               timely pay or provide to the Executive any other amounts or
               benefits required to be paid or provided to the Executive or
               which the Executive is eligible to receive under any plan,
               program, policy or practice or contract or agreement of the
               Company (such other amounts and benefits shall be hereinafter
               referred to as the "Other Benefits").

     B.   Death. If the Executive's employment is terminated by reason of the
          Executive's death during the Employment Period, this Agreement shall
          terminate without further obligations to the Executive's legal
          representatives under this Agreement, other than for payment of
          Accrued Obligations and the timely payment or provision of Other
          Benefits. Accrued Obligations shall be paid to the Executive's estate
          or beneficiary, as applicable, in a lump sum in cash within 30 days of
          the Date of Termination. With respect to the provision of Other
          Benefits, the term Other Benefits as utilized in this Section VI.B.
          shall include, without limitation, and the Executive's estate and/or
          beneficiaries shall be entitled to receive, benefits at least equal to
          the most favorable benefits provided by the Company to the estates and
          beneficiaries of members of the Company's Executive Team under such
          plans, programs, practices and policies relating to death benefits, if
          any, as in

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          effect with respect to other members of the Company's Executive Team
          and their beneficiaries.

     C.   Disability. If the Executive's employment is terminated by reason of
          the Executive's Disability during the Employment Period, this
          Agreement shall terminate without further obligations to the
          Executive, other than for payment of Accrued Obligations and the
          timely payment or provision of Other Benefits. Accrued Obligations
          shall be paid to the Executive in a lump sum in cash within 30 days of
          the Date of Termination. With respect to the provision of Other
          Benefits, the term Other Benefits as utilized in this Section VI.C.
          shall include, and the Executive shall be entitled after the Date of
          Termination to receive, disability and other benefits at least equal
          to the most favorable of those generally provided by the Company to
          disabled executives and/or their families in accordance with such
          plans, programs, practices and policies relating to disability, if
          any, as in effect generally with respect to other members of the
          Company's Executive Team and their families.

     D.   Cause; Other than for Good Reason. If the Executive's employment shall
          be terminated for Cause during the Employment Period, this Agreement
          shall terminate without further obligations to the Executive other
          than the obligation to pay to or provide the Executive with (1) his
          Annual Base Salary through the Date of Termination, (2) the amount of
          any compensation previously deferred by the Executive, and (3) Other
          Benefits, in each case to the extent theretofore unpaid. If the
          Executive terminates employment during the Employment Period,
          excluding a termination for Good Reason or Disability, this Agreement
          shall terminate without further obligations to the Executive, other
          than for Accrued Obligations and the timely payment or provision of
          Other Benefits. In such case, all Accrued Obligations shall be paid to
          the Executive in a lump sum in cash within 30 days of the Date of
          Termination.

VII. Non-exclusivity of Rights. Nothing in this Agreement shall prevent or limit
the Executive's continuing or future participation in any plan, program, policy
or practice provided by the Company and for which the Executive may qualify,
nor, shall anything herein limit or otherwise affect such rights as the
Executive may have under any contract or agreement with the Company. Amounts
which are vested benefits or which the Executive is otherwise entitled to
receive under any plan, policy, practice or program of or any contact or
agreement with the Company or subsequent to the Date of Termination shall be
payable in accordance with such plan, policy, practice or program or contract or
agreement except as explicitly modified by this Agreement.

VIII. Full Settlement. The Company's obligation to make the payments provided
for in this Agreement and otherwise to perform its obligations hereunder shall
not be affected by any set-off, counterclaim, recoupment, defense or other
claim, right or action which the Company may have against the Executive or
others. In no event shall the Executive be obligated to seek other employment or
take any other action by way of mitigation of the amounts payable to the

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Executive under any of the provisions of this Agreement and such amounts shall
not be reduced whether or not the Executive obtains other employment. The
Company agrees to pay as incurred, to the full extent permitted by law, all
legal fees and expenses which the Executive may incur in good faith as a result
of any contest (regardless of the outcome thereof) by the Company, the Executive
or others of the validity or enforceability of, or liability under, any
provision of this Agreement or any guarantee of performance thereof (including
as a result of any contest by the Executive about the amount of any payment
pursuant to this Agreement), plus in each case interest on any delayed payment
at the applicable Federal rate provided for in Section 7872(f)(2)(A) of the
Internal Revenue Code of 1986, as amended (the "Code"). Such payments shall be
made within five (5) business days after delivery of the Executive's written
requests for payment accompanied with such evidence of fees and expenses
incurred as the Company reasonably may require.

IX. Certain Additional Payments by the Company.

     A.   Anything in this Agreement to the contrary notwithstanding and except
          as set forth below, in the event it shall be determined that any
          payment or benefit received or to be received by the Executive
          (whether paid or payable or distributed or distributable pursuant to
          the terms of this Agreement or any other plan, arrangement or
          agreement with the Company, but determined without regard to any
          additional payments required under this Section IX.) (collectively, a
          "Payment") would be subject to the excise tax imposed by Section 4999
          of the Code (or any successor section) or any interest or penalties
          are incurred by the Executive with respect to such or any other excise
          tax (any such tax, together with any such interest and penalties, are
          hereinafter collectively referred to as the "Excise Tax"), then the
          Executive shall be entitled to receive an additional payment (a
          "Gross-Up Payment") in an amount such that after payment by the
          Executive of all taxes (including any interest or penalties imposed
          with respect to such taxes), including, without limitation, any income
          taxes (and any interest and penalties imposed with respect thereto)
          and Excise Tax imposed upon the Gross-Up Payment, the Executive
          retains an amount of the Gross-Up Payment equal to the Excise Tax
          imposed upon the Payments. Notwithstanding the foregoing provisions of
          this Section IX.A., if it shall be determined that the Executive is
          entitled to a Gross-Up Payment, but that the Executive, after taking
          into account the Payments and the Gross-Up Payment, would not receive
          a net after-tax benefit of at least $50,000 (taking into account both
          income taxes and any Excise Tax) as compared to the net after-tax
          benefit the Executive would receive if the Gross-Up Payment were
          eliminated and the Payments were reduced, in the aggregate, to an
          amount (the "Reduced Amount") such that the receipt of Payments would
          not give rise to any Excise Tax, then no Gross-Up Payment shall be
          made to the Executive and the Payments, in the aggregate, shall be
          reduced to the Reduced Amount. For purposes of determining whether any
          of the Payments will be subject to the Excise Tax and the amount of
          such Excise Tax, (i) all of the Payments shall be treated as
          "parachute payments" (within the meaning of Section 280G(b) of the
          Code (or any successor section)) unless, in the opinion of tax

                                       12
<PAGE>

          counsel ("Tax Counsel") reasonably acceptable to the Executive and
          selected by the Accounting Firm (as defined below), such payments or
          benefits (in whole or in part) do not constitute parachute payments,
          including by reason of Section 280G(b)(4)(A) of the Code, (ii) all
          "excess parachute payments" within the meaning of Section 280G(b)(1)
          of the Code shall be treated as subject to the Excise Tax unless, in
          the opinion of Tax Counsel, such excess parachute payments (in whole
          or in part) represent reasonable compensation for services actually
          rendered (within the meaning of Section 280G(b)(4)(B) of the Code) in
          excess of the "base amount" (as defined in Section 280G(b)(3) of the
          Code) allocable to such reasonable compensation, or are otherwise not
          subject to the Excise Tax, and (iii) the value of any non-cash
          benefits or any deferred payment or benefit shall be determined by the
          Accounting Firm in accordance with the principals of Sections
          280G(d)(3) and (4) of the Code. For purposes of determining the amount
          of the Gross-Up Payment, the Executive shall be deemed to pay federal
          income tax at the highest marginal rate of federal income taxation in
          the calendar year in which the Gross-Up Payment is to be made
          (determined by giving affect to the maximum loss of itemized
          deductions that could be suffered by the Executive by virtue of his
          receipt of the Gross-Up Payment) and state and local income taxes at
          the highest marginal rate of taxation in the state and locality of
          Executive's residence on the Date of Termination (or if there is no
          Date of Termination, then the date on which the Gross-Up Payment is
          calculated for purposes of this Section IX.A.), net of the maximum
          reduction in federal income taxes which could be obtained from
          deduction of such state and local taxes.

     B.   Subject to the provisions of Section IX.C., all determinations
          required to be made under this Section IX., including whether a
          Gross-Up Payment is required and the amount of such Gross-Up Payment
          and the assumptions to be utilized in arriving at such determination,
          shall be made by Ernst & Young or such other certified public
          accounting firm as may be designated by the Executive (the "Accounting
          Firm") which shall provide detailed supporting calculations both to
          the Company and the Executive within 15 business days of the receipt
          of notice from the Executive that a Payment has been made or will be
          required, as the case may be, or such earlier time as is requested by
          the Company. In the event that the Accounting Firm is serving as
          accountant or auditor for the individual, entity or group effecting a
          Business Combination, the Executive shall appoint another nationally
          recognized accounting firm to make the determinations required
          hereunder (which accounting firm shall then be referred to as the
          Accounting Firm hereunder). All fees and expenses of the Accounting
          Firm shall be borne solely by the Company. Any Gross-Up Payment, as
          determined pursuant to this Section VII., shall be paid by the Company
          to the Executive within five days of the receipt of the Accounting
          Firm's determination. Any determination by the Accounting Firm shall
          be binding upon the Company and the Executive. As a result of the
          uncertainty in the application of Section 4999 of the Code at the time
          of the initial determination by the Accounting Firm hereunder, it is
          possible that Gross-Up Payments which will not have been made by the
          Company should have been

                                       13
<PAGE>

          made ("Underpayment") consistent with the calculations required to be
          made hereunder. In the event that the Company exhausts its remedies
          pursuant to Section IX.C. and the Executive thereafter is required to
          make a payment of any Excise Tax, the Accounting Firm shall determine
          the amount of the Underpayment that has occurred and any such
          Underpayment shall be promptly paid by the Company to or for the
          benefit of the Executive.

     C.   The Executive shall notify the Company in writing of any claim by the
          Internal Revenue Service that, if successful, would require the
          payment by the Company of the Gross-Up Payment. Such notification
          shall be given as soon as practicable but no later than ten business
          days after the Executive is informed in writing of such claim and
          shall apprise the Company of the nature of such claim and the date on
          which such claim is requested to be paid. The Executive shall not pay
          such claim prior to the expiration of the 30-day period following the
          date on which he gives such notice to the Company (or such shorter
          period ending on the date that any payment of taxes with respect to
          such claim is due). If the Company notifies the Executive in writing
          prior to the expiration of such period that it desires to contest such
          claim, the Executive shall:

          1.   give the Company any information reasonably requested by the
               Company relating to such claim,

          2.   take such action in connection with contesting such claim as the
               Company shall reasonably request in writing from time to time,
               including, without limitation, accepting legal representation
               with respect to such claim by an attorney reasonably selected by
               the Company,

          3.   cooperate with the Company in good faith in order to effectively
               contest such claim, and

          4.   permit the Company to participate in any proceedings relating to
               such claim;

          provided, however, that the Company shall bear and pay directly all
          costs and expenses (including additional interest and penalties)
          incurred in connection with such contest and shall indemnify and hold
          the Executive harmless, on an after-tax basis, for any Excise Tax or
          income tax (including interest and penalties with respect thereto)
          imposed as a result of such representation and payment of costs and
          expenses. Without limitation on the foregoing provisions of this
          Section IX.C., the Company shall control all proceedings taken in
          connection with such contest and, at its sole option, may pursue or
          forego any and all administrative appeals, proceedings, hearings and
          conferences with the taxing authority in respect of such claim and
          may, at its sole option, either direct the Executive to pay the tax
          claimed and sue for a refund or contest the claim in any permissible
          manner, and the Executive agrees to prosecute such contest to a
          determination

                                       14
<PAGE>

          before any administrative tribunal, in a court of initial jurisdiction
          and in one or more appellate courts, as the Company shall determine;
          provided, however, that if the Company directs the Executive to pay
          such claim and sue for a refund, the Company shall advance the amount
          of such payment to the Executive, on an interest-free basis and shall
          indemnify and hold the Executive harmless, on an after-tax basis, from
          any Excise Tax or income tax (including interest and penalties with
          respect thereto) imposed with respect to such advance or with respect
          to any imputed income with respect to such advance; and further
          provided that any extension of the statute of limitations relating to
          payment of taxes for the taxable year of the Executive with respect to
          which such contested amount is claimed to be due is limited solely to
          such contested amount. Furthermore, the Company's control of the
          contest shall be limited to issues with respect to which a Gross-Up
          Payment would be payable hereunder and the Executive shall be entitled
          to settle or contest, as the case may be, any other issue raised by
          the Internal Revenue Service or any other taxing authority.

     D.   If, after the receipt by the Executive of an amount advanced by the
          Company pursuant to Section IX.C., the Executive becomes entitled to
          receive any refund with respect to such claim, the Executive shall
          (subject to the Company's complying with the requirements of Section
          IX.C.) promptly pay to the Company the amount of such refund (together
          with any interest paid or credited thereon after taxes applicable
          thereto). If, after the receipt by the Executive of any amount
          advanced by the Company pursuant to Section IX.C., a determination is
          made that the Executive shall not be entitled to any refund with
          respect to such claim and the Company does not notify the Executive in
          writing of its intent to contest such denial of refund prior to the
          expiration of 30 days after such determination, then such advance
          shall be forgiven and shall not be required to be repaid and the
          amount of such advance shall offset, to the extent thereof, the amount
          of Gross-Up Payment required to be paid.

     E.   The Gross-Up Payment shall be made not later than the fifth day
          following the Date of Termination; provided, however, that if the
          amount of such Gross-Up Payment, and the limitation on such payments
          set forth in Section IX.A. hereof, cannot be finally determined on or
          before such day, the Company shall pay to the Executive on such day an
          estimate, as determined in good faith by the Accounting Firm, of the
          minimum amount of such Gross-Up Payment to which the Executive is
          clearly entitled and shall pay the remainder of such payments
          (together with interest on the unpaid remainder (or on all such
          payments to the extent the Company fails to make such payments when
          due) at 120% of the rate provided in

                                       15
<PAGE>

          section 1274(b)(2)(B) of the Code) as soon as the amount thereof can
          be determined but in no event later than the thirtieth (30th) day
          after the Date of Termination. In the event that the amount of the
          estimated payments exceeds the amount subsequently determined to have
          been due, such excess shall constitute a loan by the Company to the
          Executive, payable on the fifth (5th) business day after demand by the
          Company (together with interest at 120% of the rate provided in
          section 1274(b)(2)(B) of the Code). At the time that payments are made
          under this Agreement, the Company shall provide the Executive with a
          written statement setting forth the manner in which such payments were
          calculated and the basis for such calculations including, without
          limitation, any opinions or other advice the Company has received from
          Tax Counsel, the Accounting Firm or other advisors or consultants (and
          any such opinions or advice which are in writing shall be attached to
          the statement).

X. Confidential Information. During the term of this Agreement and for a period
of three (3) years thereafter, Executive will retain in confidence all
proprietary and confidential information concerning the Company, including,
without limitation, customer lists, cost and pricing information, employee data,
trade secrets and software and, shall return to the Company or destroy all
copies and extracts thereof (however and on whatever medium recorded), without
keeping any copies thereof. The foregoing obligation with respect to the
protection of confidential information shall not apply to (A) any information
which was known to the Executive prior to disclosure to the Executive by the
Company or Deluxe; (B) any information which was in the public domain prior to
its disclosure to the Executive; (C) any information which comes into the public
domain through no fault of the Executive; (D) any information which the
Executive is required to disclose by a court or similar authority or under
subpoena, provided that the Executive provides the Company with notice thereof
and assists, at the Company's sole expense, any reasonable endeavor by the
Company, using appropriate means, to obtain a protective order limiting the
disclosure of such information; and (E) any information which is disclosed to
the Executive by a third party which has a legal right to make such disclosure.
In no event shall an asserted violation of the provisions of this Section X.
constitute a basis for deferring or withholding any amounts otherwise payable to
the Executive under this Agreement.

XI. Successors.

     A.   This Agreement is personal to the Executive and without the prior
          written consent of the Company shall not be assignable by the
          Executive otherwise than by will or the laws of descent and
          distribution. This Agreement shall inure to the benefit of and be
          enforceable by the Executive's legal representatives. If the Executive
          shall die while any amount would still be payable to the Executive
          hereunder (other than amounts which, by their terms, terminate upon
          the death of the Executive) if the Executive had continued to live,
          all such amounts, unless otherwise provided herein, shall be paid in
          accordance with the terms of this Agreement to the executors, personal
          representatives or administrators of the Executive's estate.

     B.   This Agreement shall inure to the benefit of and be binding upon the
          Company and its successors and assigns.

     C.   The Company will require any successor (whether direct or indirect, by
          purchase, merger, consolidation or otherwise) to all or substantially
          all of the business and/or assets of the Company to assume expressly
          and agree to perform this

                                       16
<PAGE>

          Agreement in the same manner and to the same extent that the Company
          would be required to perform it if no such succession had taken place.
          Failure of the Company to obtain such assumption and agreement prior
          to the effectiveness of any such succession shall be a breach of this
          Agreement and shall entitle the Executive to compensation from the
          Company in the same amount and on the same terms as the Executive
          would be entitled to hereunder if the Executive were to terminate the
          Executive's employment for Good Reason, except that, for purposes of
          implementing the foregoing, the date on which any such succession
          becomes effective shall be deemed the Date of Termination. As used in
          this Agreement, "Company" shall mean the Company as hereinbefore
          defined and any successor to its business and/or assets as aforesaid
          which assumes and agrees to perform this Agreement by operation of
          law, or otherwise.

XII. Miscellaneous.

     A.   This Agreement shall be governed by and construed in accordance with
          the laws of the State of Minnesota, without reference to principles of
          conflict of laws. The captions of this Agreement are not part of the
          provisions hereof and shall have no force or effect. This Agreement
          may not be amended or modified otherwise than by a written agreement
          executed by the parties hereto or their respective successors and
          legal representatives.

     B.   All notices and other communications hereunder shall be in writing and
          shall be, addressed as follows:

                           If to the Executive:

                           John A. Blanchard III
                           9869 Hidden Glade Road
                           White Bear Lake, MN  55110

                           If to the Company:

                           eFunds Corporation
                           Attn:  General Counsel
                           400 West Deluxe Parkway
                           P.O. Box 12536
                           Milwaukee, WI  53212

          or to such other address as either party shall have furnished to the
          other in writing in accordance herewith. Notice and communications
          shall be in writing and shall be effective five days after mailing, if
          sent by first class, postage prepaid to the address set forth above,
          two business days after mailing if sent by priority or overnight
          courier (next business day delivery) or upon transmission if sent by
          telecopy, with receipt of the correct answer back.

                                       17
<PAGE>

     C.   The invalidity or unenforceability of any provision of this Agreement
          shall not affect the validity or enforceability of any other provision
          of this Agreement.

     D.   The Company may withhold from any amounts payable under this Agreement
          such Federal, state, local or foreign taxes as shall be required to be
          withheld pursuant to any applicable law or regulation.

     E.   The Executive's or the Company's failure to insist upon strict
          compliance with any provision of this Agreement or the failure to
          assert any right the Executive or the Company may have hereunder,
          including, without limitation, the right of the Executive to terminate
          employment for Good Reason pursuant to Section V.C. of this Agreement,
          shall not be deemed to be a waiver of such provision or right or any
          other provision or right of this Agreement.

     F.   From and after the Start Date, this Agreement shall supersede any
          other agreement between the parties with respect to the subject matter
          hereof provided, including without limitation the Memorandum.

     G.   The obligations of the Company and the Executive under this Agreement
          which by their nature may require either partial or total performance
          after the expiration of the term of this Agreement (including, without
          limitation, those under Section VI. hereof) shall survive such
          expiration.

     H.   In the event that the Company is a party to a transaction which is
          otherwise intended to qualify for "pooling of interests" accounting
          treatment then (A) this Agreement shall, to the extent practicable, be
          interpreted so as to permit such accounting treatment, and (B) to the
          extent that the application of clause (A) of this Section XII.H. does
          not preserve the availability of such accounting treatment, then, the
          Company may modify or limit the effect of the provisions of this
          Agreement to the extent necessary to qualify the transactions as a
          "pooling transaction" and provide the Executive with payments or
          benefits as nearly equivalent as possible to those the Executive would
          have received absent such modification or limitation; provided,
          however, to the extent that any provision of this Agreement would
          disqualify the transaction as a "pooling transaction" (including, if
          applicable, the entire Agreement) and cannot otherwise be modified or
          limited, such provision shall be null and void as of the date hereof.
          All determinations under this Section XII.H. shall be made by the
          accounting firm whose opinion with respect to "pooling of interests"
          is required as a condition to the consummation of such transaction.

     I.   All claims by the Executive for benefits under this Agreement shall be
          directed to and determined by the Committee and shall be in writing.
          Any denial by the Committee of a claim for benefits under this
          Agreement shall be delivered to the Executive in writing and shall set
          forth the specific reasons for the denial and the

                                       18
<PAGE>

          specific provisions of this Agreement relied upon. The Committee shall
          afford a reasonable opportunity to the Executive for a review of the
          decision denying a claim and shall further allow the Executive to
          appeal to the Committee a decision of the Committee within sixty (60)
          days after notification by the Committee that the Executive's claim
          has been denied.

     J.   Notwithstanding any other provision in this Agreement to the contrary,
          the Board of Directors of the Company shall delegate the
          responsibilities, duties and powers specified under this Agreement to
          be observed or performed by the "Committee" to a committee (the
          "Committee") consisting of not less than three individuals who are
          members of the Board of Directors of the Company.

     IN WITNESS WHEREOF, the Executive has hereunto set the Executive's hand
and, pursuant to the authorization from its Board of Directors, the Company has
caused these presents to be executed in its name on its behalf, all as of the
day and year first above written.

eFunds Corporation                     Executive

By: /s/ Calvin W. Aurand, Jr.          /s/ John A. Blanchard III
    ------------------------------     -----------------------------------------
    Calvin W. Aurand, Jr.              John A. Blanchard III
    Chairman of the Compensation
    Committee of the Board
    of Directors of Deluxe
    Corporation

                                       19<PAGE>

                                                                   EXHIBIT 10.22

February 28, 2000

Ms. Debra Janssen
617 W. Green Tree Road
River Hills, WI  53217

Dear Debra:

It is my pleasure to formally offer you the position of President and Chief
Operating Officer of the new eFunds Corporation. This offer will be effective
March 1, 2000. You will report directly to me, and will also serve as a director
of the Company when its new board is constituted at the time of our planned IPO.
In addition, you will join Paul Bristow, Nikhil Sinha, and Steve Coleman as
members of the Executive Leadership Team (ELT) assisting me with overall
corporate direction and management.

The following confirms our discussions regarding your job offer:

Start date:  3/1/00.

Base salary: $400,000 annually, payable monthly. This figure will next be
reviewed for possible adjustment as of January 1, 2001.

Target bonus: Your target bonus will be 50% of base salary, or $200,000
annually. In addition, this figure can range from 0% to 100% of base salary (or
$0 to $400,000), depending upon the Company's performance against board-approved
annual operating plan measures. In all probability, your measures will be
identical to my own.

Stock option grant: Competitive market studies conducted by compensation
consultants suggest that your position should receive annual stock option grants
with value (as determined by the Black-Shoals method) equal to 225% of your base
salary. In addition, the Deluxe Board of Directors has determined that certain
senior officers of the new eFunds will be granted "double options" in this
formative year - i.e. options valued at 450% of your base salary. The exact
number of shares won't be finalized until the IPO, but we intend to grant you a
number of options at the IPO strike price which will vest in thirds, on the
first, second and third anniversary of the IPO, with approximate value of
$1,800,000. The next occasion for another option grant is expected to be on or
about January 1, 2002.
<PAGE>

Automobile allowance: You will receive a monthly automobile allowance of $1,100.
This fee, which is intended to cover auto lease or purchase payments, gas and
maintenance expense, and insurance, and may be used in any way you choose.
Purchase of an automobile is not required, and there are no restrictions on the
type of automobile you may lease or purchase.

Severance: Should your employment be terminated for reasons other than willful
misconduct, gross negligence or unlawful actions toward the Company or toward
others involved with the Company's business (in other words, should you be
terminated because your job performance is judged inadequate, your job is
eliminated or any other similar reason), you will receive a severance package
consisting of one year's base salary, plus a second year of "income
continuation." Income continuation means that, if you are unemployed at the end
of the first year following termination from eFunds, or employed at a salary
level which is less than your eFunds base salary at the time of your
termination, eFunds would continue to pay your base salary (or the difference
between your eFunds base salary and whatever new salary you are earning) for up
to one additional year, or if earlier, until such time as your new salary equals
or exceeds your former eFunds salary.

Change of Control: The Deluxe Compensation Committee is expected to approve a
Change of Control plan on March 29th. This plan is expected to cover you,
Nikhil, Paul, Steve and myself, and is expected to be similar in form to the
existing Deluxe Corporation change of control agreement, a copy of which is
attached.

Insurance: Your existing medical and dental insurance coverage for you and Paul
remains in effect, and will only be adjusted should eFunds Corp. decide to
modify the existing plan. Should that occur, you will receive full coverage to
the extent of that plan. You also remain eligible for 1 times base salary life
insurance coverage at Company cost, and may purchase additional insurance up to
$1 million through the Company's life insurance plan. Finally, you may purchase
dependent life insurance for Paul, up to a maximum of $100,000.

Retirement: While the new eFunds retirement plan has not been finalized, it is
expected to include a Defined Contribution Pension element, a variable "profit
sharing" component, and a 401k plan in which the Company will match your
contributions up to 3% of eligible wages.

Vacation: As is currently the case, you are eligible for 5 weeks of annual
vacation.

Long term disability: Your coverage remains as currently in place, unless the
new eFunds should change the policy later.

Physical exam: The Company pays for annual full physical exams for all
executives over the age of 45.

                                       2
<PAGE>

This agreement will supercede any existing written or oral agreement or
understanding regarding your employment.

Debra, I hope these points resolve any questions or issues for you. If so,
please sign one copy and return it to me at your convenience in the enclosed
envelope. I can't tell you how pleased I am to be working with you to help the
eFunds Corporation develop and realize the great future ahead of us.

Best regards,

Chairman and Chief Executive Officer

Accepted ________________________   Date _______________

                                       3

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