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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                               (Amendment No.  )*


                       Transaction Systems Architects Inc.
                                (Name of Issuer)


                                  Common Stock
                         (Title of Class of Securities)

                                    89341610
                                 (CUSIP Number)



*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).


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                               SCHEDULE 13G

CUSIP No.    89341610

1.       NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                  Warburg, Pincus Counsellors, Inc.
                  13-2673503

2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                           (a) [ ]
                                                           (b) [ ]

3.       SEC USE ONLY

4.       CITIZENSHIP OR PLACE OF ORGANIZATION

                  United States

                          5.     SOLE VOTING POWER         1,134,600

NUMBER OF                 6.     SHARED VOTING POWER         405,000
SHARES
BENEFICIALLY
OWNED BY
EACH                      7.     SOLE DISPOSITIVE POWER    1,860,400
REPORTING
PERSON                    8.     SHARED DISPOSITIVE POWER          0
WITH


9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
         REPORTING PERSON      1,868,100

10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
         CERTAIN SHARES*        [ ]

11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9      8.29%

12.      TYPE OF REPORTING PERSON*

                  Investment Advisor


                                *SEE INSTRUCTION



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                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                                  Schedule 13G
                    Under the Securities Exchange Act of 1934

Amendment No.:                                    Date:    01/09/97


Item 1 (a)        Name of issuer:   Transaction Systems Architects Inc.
Item 1 (b)        Address of issuer's principal executive offices:

                         330 South 108th Avenue
                         Omaha, NE  68154

Item 2 (a)        Name of person filing:

                         Warburg, Pincus Counsellors, Inc.

Item 2 (b)        Address of principal business office:

                         466 Lexington Avenue
                         New York, NY  10017

Item 2 (c)        Citizenship:      United States

Item 2 (d)        Title of class of securities:      Common Stock

Item 2 (e)        Cusip No.:        89341610

Item 3   Type of Person: Investment Advisor

Item 4 (a)        Amount beneficially owned:                1,868,100

Item 4 (b)        Percent of class:   8.29%

Item 4 (c)         (i)     sole power to vote:              1,134,600
                   (ii)    shared power to vote:              405,000
                   (iii)   sole power to dispose:           1,860,400
                   (iv)    shared power to dispose:                 0

Item 5   Ownership of 5 percent or less of a class:        Not Applicable

Item 6            Ownership of more than 5 percent on behalf of another person:
		  Warburg, Pincus Counsellors, Inc. serves as Investment
		  Advisor to many accounts. The securities which are the
		  subject of this report are owned by our accounts. None of
		  these accounts, individually, own more than 5% of the
		  securities which are the subject of this report.


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Item 7   Identification and classification of subsidiary:    Not Applicable

Item 8   Identification and classification of members
         of the group:        Not Applicable

Item 9   Notice of dissolution of the group:                 Not Applicable

Item 10  Certification:

                  By signing below I certify that, to the best of my knowledge
		  and belief, the securities referred to above were acquired in
		  the ordinary course of business and were not acquired for the
		  purpose of and do not have the effect of changing or
		  influencing the control of the issuer of such securities and
		  were not acquired in connection with or as a participant in
		  any transaction having such purpose or effect.

                  After reasonable inquiry and to the best of my knowledge and
		  belief, I certify that the information set forth in this
		  statement is true, complete, and correct.


					    /s/  Linda S. Iovan
                                        --------------------------------
                                                 Linda S. Iovan
                                                 Vice President