FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * PARKINSON ANTHONY J   2. Issuer Name and Ticker or Trading Symbol TRANSACTION SYSTEMS ARCHITECTS INC [TSAI] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Senior Vice President (Last) (First) (Middle) 224 S. 108 AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 05/09/2006 (Street) OMAHA, NE 68154 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 05/09/2006   M   10,939 A $ 25.875 16,835 D   Common Stock 05/09/2006   S   10,939 D $ 41.8392 (1) 5,896 D   Common Stock 05/10/2006   M   20,941 A $ 25.875 26,837 D   Common Stock 05/10/2006   S   20,941 D $ 41.8591 (2) 5,896 (3) D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Non-Qualified Stock Option (right to buy)

$ 25.875

05/09/2006

M

10,939

(4)

04/04/2007

Common Stock

10,939

$ 0

29,061

D

Non-Qualified Stock Option (right to buy)

$ 25.875

05/10/2006

M

20,941

(4)

04/04/2007

Common Stock

20,941

$ 0

8,120

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
PARKINSON ANTHONY J 224 S. 108 AVENUE OMAHA, NE 68154			Senior Vice President

Signatures

By: /s/ Victoria H. Finley, Attorney in Fact For: Anthony J. Parkinson		05/11/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The sale price ranged from $41.75 to $42.23, with a weighted average sale price of $41.8392.
(2)	The sale price ranged from $41.75 to $42.14, with a weighted average sale price of $41.8591.
(3)	The amount of securities owned also includes 896 shares aquired under the Transaction Systems Architects, Inc. 1999 Employees Stock Purchase Plan on the following dates: 07/29/05 - 240 shares; 10/31/05 - 249 shares; 01/31/06 - 223 shares; and 04/28/06 - 184 shares.
(4)	The options vest in equal annual installments over a 4 - year period commencing April 4, 1997. The options reported as exercised herin were vested prior to exercise.
Remarks: The shares identified herein were sold pursuant to the cashless exercise of options granted to Mr. Parkinson on April 4, 1997.  Those options would otherwise expire in accordance with their terms on April 4, 2007.

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