Payment Solutions 2

Summary

Enables the public sector to buy goods and services against a procurement card. Prepaid solutions enable payment to those who do not have other means of accessing funds.

Description

This agreement represents a sixth iteration Procurement Card solution to buy all common goods and services and a second iteration of prepaid solutions for disbursement of funds.

It will provide access to the supply and maintenance of payment solutions which will allow users to buy goods and services, including travel. It will also offer prepaid solutions for those who do not have other means of accessing funds.

The agreement will be for an initial term of 3 years with the option for a 1 year extension and is designed to replace RM3828 Payment Solutions which expires in December 2022.

Benefits

  • an annual rebate payable by your chosen supplier and based on your spend
  • switching to this programme can typically save between £28 and £45 per card in annual card fees when compared against industry related fees
  • saving of at least £5 for each transaction when compared to traditional buying methods (such as bank transfer payments)
  • some customers have reduced the number of invoices they have to deal with by as much as 45% by moving to a procurement card solution
  • suppliers are guaranteed to be paid within 4 working days: helping you meet government’s prompt payment targets, improving cash flow and enabling Social Value
  • analysis of management information to help you understand spending behaviours and support future contract negotiations with frequently used suppliers
  • control spending by setting monthly or single transaction limits using MCG (Merchant Category Group’s) and MCC (Merchant Category Codes)
  • ‘Lodge’ a card with your top spending suppliers so employees can buy efficiently without the need for a physical card
  • ‘Lodge and Virtual’ card solutions reducing physical card use and contributing to Social Value goals
  • suppliers are accredited to Payment Card Industry Data Security Standard (PCI DSS)

Product types

Lot 1: Procurement Card
There are 3 types of cards

  • Virtual Card: facilitates a payment without disclosing the actual card details
  • Lodged Card: where the card details is ‘digitally placed’ in a payments system
  • Plastic Card: a traditional card

Lot 2: Prepaid Card

  • Prefunded cards

Lot 3: Fund Disbursement

  • Prefunded solutions including SMS and vouchers

Customer engagement

We continue to work with customers to understand their current and future needs. A draft specification will be made available for the new agreement.

Supplier engagement

We would like to hear from suppliers to better understand the marketplace.
If you would like to register your interest and provide feedback for this agreement, email the team. In your email you will need to include:

  • organisation name
  • contact details
  • job title of contact
  • organisation website link

Important links

Prior Information Notice (PIN) Read PIN
Contract Notice in OJEU Not available yet
Tender documents Not available yet

Timeline

Activity Estimated dates
Pre-market engagement Summer / Autumn 2021
Drafting of procurement documents Spring 2022
Publication of OJEU notice TBC
Framework award September 2022