Award

Payment Initiation and Account Information Services

H M REVENUE & CUSTOMS

This public procurement record has 1 release in its history.

Award

05 Feb 2021 at 14:54

Award Notice
Summary of the contracting process

The public procurement process involved the awarding of a contract titled "Payment Initiation and Account Information Services" by HM Revenue & Customs (HMRC) for the provision of financial consultancy and transaction processing services. The contract, which is valued at a maximum of £3 million, is set to commence on 1st March 2021 and will run for a period of three years, with an option for a one-year extension. The procurement method used was a selective procedure, and the tender phase concluded on 7th September 2020. The services will be delivered in the United Kingdom, with a minimum project value set at £525,000.

This contract presents significant opportunities for small and medium-sized enterprises (SMEs) in the financial services sector to expand their business. Companies specialising in financial consultancy, transaction processing, or clearing-house services would find this tender particularly relevant. The involvement of HMRC as the contracting authority suggests that successful suppliers may also gain further visibility and collaboration opportunities within the public sector, contributing to long-term business growth.

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Notice Information

Notice Title

Payment Initiation and Account Information Services

Notice Description

Award notice for Payment Initiation and Account Information Services (Procurement reference number: SR388188658 / BIP514056627) for HMRC for a 2+1 year period. The highest value of PS3m provided in the award notice is the maximum total contract value and may vary based on the uptake from our customers and the other organisations that may potentially use this contract.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-61de76b3-f180-4af7-8351-ad41cfd54a51
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/a926f853-b7bc-4529-9cce-c3125bd3bc31
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Selective
Procurement Method Details
Restricted procedure (above threshold)
Tender Suitability
SME
Awardee Scale
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66170000 - Financial consultancy, financial transaction processing and clearing-house services

Notice Value(s)

Tender Value
£3,000,000 £1M-£10M
Lots Value
Not specified
Awards Value
£525,000 £500K-£1M
Contracts Value
Not specified

Notice Dates

Publication Date
5 Feb 20215 years ago
Submission Deadline
7 Sep 2020Expired
Future Notice Date
Not specified
Award Date
30 Dec 20205 years ago
Contract Period
1 Mar 2021 - 29 Feb 2024 3-4 years
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
H M REVENUE & CUSTOMS
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
SW1A 2BQ
Post Town
South West 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
Westminster
Electoral Ward
St James's
Westminster Constituency
Cities of London and Westminster

Supplier Information

Number of Suppliers
1
Supplier Name

ECOSPEND TECHNOLOGIES

Further Information

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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