Award

Confirmation of Payee Services

FINANCIAL SERVICES COMPENSATION SCHEME LIMITED

This public procurement record has 1 release in its history.

Award

25 Nov 2025 at 08:25

Summary of the contracting process

The Financial Services Compensation Scheme Limited has awarded a contract for "Confirmation of Payee Services," which falls under the industry category of financial transaction processing and clearing-house services. Located in London, EC3A 7QU, England, the procurement process was initiated as a tender and has now reached the award stage, with PayPoint Network Limited being the awarded supplier. This contract, valued at £300,000, utilises a selective procurement method, specifically a call-off from a G-Cloud 14 framework agreement. The contract period began on 24th November 2025 and extends until 23rd November 2028.

This tender offers significant opportunities for businesses specialising in financial services, particularly those able to process and verify bank account details. Larger establishments with experience in handling bulk financial data would find this contract well-suited for their expertise. The selective procurement approach, leveraging a framework agreement, may present recurring opportunities for incumbent providers adept at meeting specific tender criteria without being solely tailored for SMEs or VCSE organisations. The involvement in such government contracts may enhance credibility and facilitate future business expansion in the financial transaction services market.

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Notice Title

Confirmation of Payee Services

Notice Description

G-Cloud 14 Call Off Agreement - This service is required to confirm bulk bank account details of customers if there was a financial institution failure.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-3c0b549f-af11-4187-8f9d-2e3b37a6ac42
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/9382e6c7-3d9a-4550-a5ba-7475d7305683
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Framework
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Call-off from a framework agreement
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66172000 - Financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
£300,000 £100K-£500K
Lots Value
Not specified
Awards Value
£300,000 £100K-£500K
Contracts Value
Not specified

Notice Dates

Publication Date
25 Nov 20253 months ago
Submission Deadline
23 Nov 2025Expired
Future Notice Date
Not specified
Award Date
24 Nov 20253 months ago
Contract Period
24 Nov 2025 - 23 Nov 2028 3-4 years
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Not Specified
Awards Status
Active
Contracts Status
Not Specified

Contracting Authority (Buyer)

Main Buyer
FINANCIAL SERVICES COMPENSATION SCHEME LIMITED
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
LONDON
Postcode
EC3A 7QU
Post Town
Central London
Country
England

Major Region (ITL 1)
TLI London
Basic Region (ITL 2)
TLI3 Inner London - West
Small Region (ITL 3)
TLI35 Westminster and City of London
Delivery Location
Not specified

Local Authority
City of London
Electoral Ward
Portsoken
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

PAYPOINT NETWORK

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts.

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