Award

Payment Initiation Services

NS&I

This public procurement record has 1 release in its history.

Award

02 Sep 2024 at 16:05

Summary of the contracting process

The procurement process for "Payment Initiation Services" conducted by NS&I (National Savings and Investments) focuses on the provision and maintenance of secure bank transfer services for its customers. The industry category is "Financial and insurance services," and the specific CPV code is 66000000. This contract, valued at GBP 0, was awarded to Ecospend Technologies Ltd on 14th August 2024. The contract period runs from 30th August 2024 to 29th August 2025, with an optional extension of 12 months. The procurement method was direct, classified as a "Single tender action (below threshold)," and it follows a completed tender stage.

This tender presents significant growth opportunities for businesses involved in financial technology and digital banking services. Companies specialising in secure payment solutions, particularly those capable of providing efficient and user-friendly banking interfaces, are well-suited to compete. Larger businesses with a focus on innovative financial services and a proven track record in handling similar projects can leverage this contract to expand their market presence. The project not only opens doors for collaboration with a reputable public sector organisation like NS&I but also enhances credibility and visibility in the highly competitive financial services industry.

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Notice Title

Payment Initiation Services

Notice Description

NS&I has a requirement for the provision and maintenance of Payment Initiation Services in order to allow NS&I's customers to pay NS&I by bank transfer using a secure, simple and efficient process. Contract awarded for a period of 12 months, with an optional 12 month extension option.

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b1a36272-8fcc-4e3a-8df8-5d196b57756c
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/4f983f0f-f9f1-43e4-bde1-472e54d6d52b
Current Stage
Award
All Stages
Award

Procurement Classification

Notice Type
Award Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Direct
Procurement Method Details
Single tender action (below threshold)
Tender Suitability
Not specified
Awardee Scale
Large

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services


CPV Codes

66000000 - Financial and insurance services

66100000 - Banking and investment services

66110000 - Banking services

66111000 - Central bank services

66112000 - Deposit services

66113000 - Credit granting services

66113100 - Micro-credit granting services

66114000 - Financial leasing services

66115000 - International payment transfer services

66120000 - Investment banking services and related services

66121000 - Mergers and acquisition services

66122000 - Corporate finance and venture capital services

66130000 - Brokerage and related securities and commodities services

66131000 - Security brokerage services

66131100 - Pension investment services

66132000 - Commodity brokerage services

66133000 - Processing and clearing services

66140000 - Portfolio management services

66141000 - Pension fund management services

66150000 - Financial markets administration services

66151000 - Financial market operational services

66151100 - Electronic marketplace retailing services

66152000 - Financial market regulatory services

66160000 - Trust and custody services

66161000 - Trust services

66162000 - Custody services

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

66171000 - Financial consultancy services

66172000 - Financial transaction processing and clearing-house services

66180000 - Foreign exchange services

66190000 - Loan brokerage services

66500000 - Insurance and pension services

66510000 - Insurance services

66511000 - Life insurance services

66512000 - Accident and health insurance services

66512100 - Accident insurance services

66512200 - Health insurance services

66512210 - Voluntary health insurance services

66512220 - Medical insurance services

66513000 - Legal insurance and all-risk insurance services

66513100 - Legal expenses insurance services

66513200 - Contractor's all-risk insurance services

66514000 - Freight insurance and Insurance services relating to transport

66514100 - Insurance related to Transport

66514110 - Motor vehicle insurance services

66514120 - Marine, aviation and other transport insurance services

66514130 - Railway insurance services

66514140 - Aircraft insurance services

66514150 - Vessel insurance services

66514200 - Freight insurance services

66515000 - Damage or loss insurance services

66515100 - Fire insurance services

66515200 - Property insurance services

66515300 - Weather and financial loss insurance services

66515400 - Weather-related insurance services

66515410 - Financial loss insurance services

66515411 - Pecuniary loss insurance services

66516000 - Liability insurance services

66516100 - Motor vehicle liability insurance services

66516200 - Aircraft liability insurance services

66516300 - Vessel liability insurance services

66516400 - General liability insurance services

66516500 - Professional liability insurance services

66517000 - Credit and surety insurance services

66517100 - Credit insurance services

66517200 - Surety insurance services

66517300 - Risk management insurance services

66518000 - Insurance brokerage and agency services

66518100 - Insurance brokerage services

66518200 - Insurance agency services

66518300 - Insurance claims adjustment services

66519000 - Engineering, auxiliary, average, loss, actuarial and salvage insurance services

66519100 - Oil or gas platforms insurance services

66519200 - Engineering insurance services

66519300 - Auxiliary insurance services

66519310 - Insurance consultancy services

66519400 - Average adjustment services

66519500 - Loss adjustment services

66519600 - Actuarial services

66519700 - Salvage administration services

66520000 - Pension services

66521000 - Individual pension services

66522000 - Group pension services

66523000 - Pension fund consultancy services

66523100 - Pension fund administration services

66600000 - Treasury services

66700000 - Reinsurance services

66710000 - Life reinsurance services

66720000 - Accident and health reinsurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
2 Sep 20241 years ago
Submission Deadline
13 Aug 2024Expired
Future Notice Date
Not specified
Award Date
13 Aug 20241 years ago
Contract Period
29 Aug 2024 - 29 Aug 2025 6-12 months
Recurrence
Not specified

Notice Status

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

Contracting Authority (Buyer)

Main Buyer
NS&I
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
SW1P 3BT
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
TLE Yorkshire and The Humber

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

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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                "description": "Railway insurance services"
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