News

N.C. selects eFunds as EBT provider

August 19, 2002

SCOTTSDALE, Ariz. -- eFunds Corporation (Nasdaq: EFDS) says it has been selected as the prime provider of Electronic Benefits Transfer (EBT) services by the State of North Carolina Department of Health and Human Services.

The three-year contract has the possibility of two renewals, each for a one-year period.

Under the contract, eFunds will handle the electronic distribution of food stamp programs in North Carolina, including transaction processing, reporting, authorization, settlement, operations support, help desk services, contract and project management, and retailer management.

eFunds Government Services, one of the first suppliers of EBT services nationwide, provides state and county governments with processing and services to automate food stamp and cash benefits. Prior to this, eFunds was a prime EBT contractor for 10 government assistance programs and a subcontractor for 22 other programs.

eFunds' EBT system is built on eFunds' Connex software which offers ATM and POS electronic funds transfer driving, switching, authorization and settlement services to banks and financial networks.