Planning

Payment Accounts Comparison (PACS) tool - Data feed provision

MONEY AND PENSIONS SERVICE

This public procurement record has 1 release in its history.

Planning

07 Sep 2020 at 15:27

Market Engagement Notice
Summary of the contracting process

The procurement process concerns the Money and Pensions Service (MaPS), which is seeking a data feed supplier for its Payment Accounts Comparison (PACS) tool. This initiative falls under the financial services industry, specifically aimed at enhancing the transparency of payment accounts. Currently in the planning stage, the engagement end date for potential suppliers to express their interest is set for 25th September 2020. The service is needed to maintain an operationally independent tool that compares various payment account fees and charges, with an emphasis on data accuracy and timely updates.

This tender presents an excellent opportunity for businesses specialising in data services, particularly those with expertise in financial data provision and management. Companies that can meet the requirements for accurate and up-to-date information on payment account products will be well-suited to bid. Additionally, businesses that can ensure daily data queries and maintain a user-friendly interface for the comparison tool are likely to find this contract advantageous for growth in the financial technology sector.

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Notice Information

Notice Title

Payment Accounts Comparison (PACS) tool - Data feed provision

Notice Description

Under the Financial Conduct Authority's Payment Accounts Directive (PAD), the Money and Pensions Service (MaPS) has a statutory duty to provide a web-based Payment Accounts Comparison (PACS) tool. The aim of PAD is to improve access to payment accounts, increasing competition and making fees and charges more transparent and comparable. As such, MaPS had to create an operationally independent tool to compare a specific and limited list of fees and charges known as the Linked Services List. The PACS tool has been operated by MaPS since 2018. Though the tool is developed and maintained by MaPS directly, an external provider is required to supply a data feed of the Payment Service Providers' (PSP) Payment account products, and to compare a specific and limited list of fees and charges known as the Linked Services list. The current contract for this service expires in 2021. Therefore MaPS is issuing this Early Engagement notice to ascertain interest from the market prior to any potential tender process for this data provision service. MaPS would request that any providers who would be interested in bidding for this opportunity to please indicate this by replying to the contact email address by 25th September. Further details are included in the Additional Text and Links sections of this notice. Additional information: Overview of Requirements: - MaPS need provision of data on products that account for a significant share of the market for payment accounts in order to power a comparison tool; - Each payment account product should have data on the fees and charges associated with each of the linked services; - This data must be provided in a format that the MaPS development team can utilize in the tool, and must be maintained and kept up to date - and must be queryable no less than on a daily basis; - Where possible, further data about the accounts' features and requirements should be made available, to facilitate a good user journey. Statutory Data Requirements: - Accurate and up-to-date data on fees, charges and availability of each of the Linked Services; - Significant part of market provision of this data for Payment Accounts available in the UK; - Basic product information including product name, supplier name & product type. Final Linked Services list (further details on link below): 1. Maintaining the account 2. Arranged overdraft 3. Unarranged overdraft 4. Refusing a payment due to lack of funds 5. Allowing a payment despite lack of funds 6. Direct debt 7. Standing order 8. Sending money within the UK 9. Sending money outside the UK 10. Receiving money from outside the UK 11. Cash withdrawal in pounds in the UK 12. Cash withdrawal in foreign currency outside the UK 13. Debit card payment in pounds 14. Debit card payment in a foreign currency 15. Cancelling a cheque

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-b373b74f-b3da-48d8-a490-7a94a164eb36
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/5c2995fc-a4fc-4370-9745-567033548aef
Current Stage
Planning
All Stages
Planning

Procurement Classification

Notice Type
Market Engagement Notice
Procurement Type
Standard
Procurement Category
Not specified
Procurement Method
Not Specified
Procurement Method Details
Not specified
Tender Suitability
SME
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

72 - IT services: consulting, software development, Internet and support

CPV Codes

72300000 - Data services

72319000 - Data supply services

Notice Value(s)

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

Notice Dates

Publication Date
7 Sep 20205 years ago
Submission Deadline
Not specified
Future Notice Date
25 Sep 2020Expired
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Planning
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
MONEY AND PENSIONS SERVICE
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
EC2N 2TD
Post Town
Not specified
Country
Not specified
Major Region (ITL 1)
Not specified
Basic Region (ITL 2)
Not specified
Small Region (ITL 3)
Not specified
Delivery Location
TLI London
Local Authority
Not specified
Electoral Ward
Not specified
Westminster Constituency
Not specified

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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