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

                                  SCHEDULE 13G
                                 (RULE 13d-102)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(b) AND (c)
               AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(b)
                               (Amendment No. 2)*

                                        
                      Transaction Systems Architects, Inc.
                 -----------------------------------------------
                                (Name of Issuer)

                         Common Stock, $.005 par value
                 -----------------------------------------------   
                         (Title of Class of Securities)

                                   893416107
                          --------------------------- 
                                 (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 (the "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).

                               Page 1 of 7 pages

 
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CUSIP No. 893416107                        13G                Page 2 of 7 pages 
- --------------------                                        --------------------

Item 1(a).  Name of Issuer: Transaction Systems Architects, Inc.
            --------------                                      
 
Item 1(b).  Address of Issuer's Principal Executive Offices:  224 South 108th 
            ------------------------------------------------
            Avenue, Suite 7, Omaha, NE 68154 

Item 2(a) Item 2(b) Item 2(c) - --------- --------- --------- Citizenship or Place Name of Person Filing Address of Organization - --------------------- ------- -------------------- ABS Capital Partners, L.P. ("ABS 1 South Street Delaware Capital"), a Delaware limited Baltimore, MD 21202 partnership ABS Partners, L.P. ("ABS 1 South Street Delaware Partners"), a Delaware limited Baltimore, MD 21202 partnership and the sole general partner of ABS Capital Donald B. Hebb, Jr., Frederick L. 1 South Street United States Bryant and Timothy T. Weglicki; Baltimore, MD 21202 general partners of ABS Partners (the "Investing General Partners")
Item 2(d). Title of Class of Securities: Class A Common Stock, $.005 par value ---------------------------- per share. Item 2(e). CUSIP Number: 893416107 ------------ Item 5. Ownership of Five Percent or Less of a Class. -------------------------------------------- If this statement is being filed to report the fact that as of the date hereof each reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ X ] *SEE INSTRUCTION BEFORE FILLING OUT! Page 2 of 7 pages - -------------------- -------------------- CUSIP No. 893416107 13G Page 3 of 7 pages - -------------------- -------------------- SIGNATURE --------- After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. We also hereby agree to file this statement jointly pursuant to the Agreement listed on Exhibit 1 hereto. --------- Dated: February 11, 1998 ABS CAPITAL PARTNERS, L.P. By: ABS Partners, L.P. By: * ----------------------- General Partner ABS PARTNERS, L.P. By: * ----------------------- General Partner * - --------------------------- Donald B. Hebb, Jr. * - --------------------------- Frederick L. Bryant * - --------------------------- Timothy T. Weglicki *The undersigned attorney-in-fact, by signing her name below, does hereby sign this statement on behalf of the above indicated filers pursuant to Powers of Attorney filed hereto as Exhibit 2. --------- /s/ Mary S. Emmerling - --------------------- Mary S. Emmerling Attorney-in-Fact Page 3 of 7 pages - -------------------- -------------------- CUSIP No. 893416107 13G Page 4 of 7 pages - -------------------- -------------------- Exhibit 1 --------- AGREEMENT --------- Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed on behalf of all of the undersigned with respect to the ownership of shares of Class A Common Stock of Transaction Systems Architects, Inc. by ABS Capital Partners, L.P. This agreement may be executed in any number of counterparts, each of which shall be deemed an original. EXECUTED as a sealed instrument this 11th day of February, 1998. ABS CAPITAL PARTNERS, L.P. By: ABS Partners, L.P. By: * ------------------------- General Partner ABS PARTNERS, L.P. By: * ------------------------- General Partner * - ----------------------------- Donald B. Hebb, Jr. * - ----------------------------- Frederick L. Bryant * - ------------------------------ Timothy T. Weglicki *The undersigned attorney-in-fact, by signing her name below, does hereby sign this statement on behalf of the above indicated filers pursuant to Powers of Attorney filed hereto as Exhibit 2. --------- /s/ Mary S. Emmerling - --------------------- Mary S. Emmerling Attorney-in-Fact Page 4 of 7 pages - -------------------- -------------------- CUSIP No. 893416107 13G Page 5 of 7 pages - -------------------- -------------------- Exhibit 2 --------- POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Mary S. Emmerling his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities (until revoked in writing) to sign any and all instruments, certificates and documents required to be executed on behalf of himself individually or on behalf of each or any of ABS Capital Partners, L.P., ABS Partners, L.P., ABS Capital Partners II, L.P., ABS Partners II, L.L.C., TSI Investment Partners, L.P., or TSI General Partner, L.L.C. pursuant to Section 13 and Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the By-laws of the National Association of Securities Dealers, Inc., granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary fully to all intents and purposes as he might or could do in person thereby and ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof, or may have done in connection with the matters described above. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Page 5 of 7 pages - -------------------- -------------------- CUSIP No. 893416107 13G Page 6 of 7 pages - -------------------- -------------------- IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 10th day of February, 1997. ABS CAPITAL PARTNERS, L.P. By: ABS Partners, L.P. By: /s/ Donald B. Hebb, Jr. ------------------------ Donald B. Hebb, Jr. General Partner ABS PARTNERS, L.P. By: /s/ Donald B. Hebb, Jr. ------------------------- Donald B. Hebb, Jr. General Partner ABS CAPITAL PARTNERS II, L.P. By: ABS Partners II, L.L.C. By: /s/ Donald B. Hebb, Jr. ------------------------- Donald B. Hebb, Jr. Manager ABS PARTNERS II, L.L.C. By: /s/ Donald B. Hebb, Jr. ------------------------ Donald B. Hebb, Jr. Manager Page 6 pf 7 pages - -------------------- -------------------- CUSIP No. 893416107 13G Page 7 of 7 pages - -------------------- -------------------- TSI INVESTMENT PARTNERS, L.P. By: TSI General Partner, L.L.C. By: /s/ Donald B. Hebb, Jr. ------------------------ Donald B. Hebb, Jr. Manager TSI GENERAL PARTNER, L.L.C. By: /s/ Donald B. Hebb, Jr. ------------------------ Donald B. Hebb, Jr. Manager /s/ Donald B. Hebb, Jr. - ----------------------- Donald B. Hebb, Jr. /s/ Frederick L. Bryant - ----------------------- Frederick L. Bryant /s/ Timothy T. Weglicki - ----------------------- Timothy T. Weglicki Page 7 of 7 pages