Exhibit 23


                   Consent of Independent Public Accountants

     As independent public  accountants,  we hereby consent to the incorporation
by  reference  in this  Form S-8  Registration  Statement  for the  Transactioon
Systems Architects,  Inc. 1997 Management Stock Option Plan of our reports dated
October 31, 1996, included in Transaction Systems Archtects,  Inc. Annual Report
on Form 10-K for the year ended September 30, 1996, and to all references to our
Firm included in this Registration Statement.

                                                            Arthur Andersen LLP

Omaha, Nebraska
February 26, 1997