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DWP Payment Contingency Service

Department for Work and Pensions

This public procurement record has 6 releases in its history.

Award

19 Aug 2022 at 16:19

Award Notice
TenderUpdate

24 Feb 2022 at 16:04

Tender Notice
TenderUpdate

18 Nov 2021 at 15:45

Tender Notice
TenderUpdate

01 Nov 2021 at 15:31

Tender Notice
TenderUpdate

19 Oct 2021 at 12:03

Tender Notice
Tender

15 Oct 2021 at 15:37

Tender Notice
Summary of the contracting process

The Department for Work and Pensions (DWP) has completed a procurement process for the DWP Payment Contingency Service, involving financial and insurance services. The procurement stage has reached the award phase, with contracts signed with Vocalink International Limited for the Short Term Payments Contingency and HSBC Bank Plc for the Sponsor Bank. The location of the buying organisation is London, United Kingdom. The procurement method used was an open procedure with an emphasis on services. The procurement had key dates, including a contract signing deadline on 30th June 2022.

This tender presents opportunities for businesses in the financial and insurance services sector, particularly those experienced in payment processing and contingency services. Companies providing payment solutions, banking services, and financial technologies may find this tender suitable for competing. The DWP's Payment Contingency Service involves handling a significant volume of daily payments, making it ideal for service providers equipped to manage large-scale financial transactions efficiently.

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Notice Information

Notice Title

DWP Payment Contingency Service

Notice Description

This procurement is for the provision of the DWP Payment Contingency Service. A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate. This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation. The end to end Payment Contingency service requires two separate components, these are: * LOT 1 - A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure * LOT 2 - A Sponsor Bank for the settlement of funds with the Bank of England. DWP makes circa. 2.5m payments per day and pays over PS3.7bn per week.

Lot Information

LOT 1 - Short Term Payment Contingency

A service to reformat BACS payments into Faster Payments for onward submission into the Faster Payment infrastructure when DWP are required to invoke contingency services

Options: The term may be extended by 1+1 years

Lot 2 - Sponsor Bank

A Sponsor Bank is required to support the functionality of the Payment Contingency Services. Without a Sponsor Bank in place, the Payment Contingency Services is unable to operate.

Options: The contract may be extended for 1+1 years

Lot 1 - Short Term Payments Service (STPC)

This contingency service is invoked in situations when there is a delay with release of the BACS payment file, which contains benefit and pension payments and the Department's ability to make payment on time is threatened. The service transforms BACS payments into Faster Payments to ensure customers receive their benefit/pension entitlement on their due date, reducing reputational risk and satisfying the Secretary of State's obligation.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-02ec79
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/023170-2022
Current Stage
Award
All Stages
Tender, Award

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure
Tender Suitability
Not specified
Awardee Scale
Large, SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

66110000 - Banking services

Notice Value(s)

Tender Value
£1,000,000,000 £1B-£10B
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£1,492,200 £1M-£10M

Notice Dates

Publication Date
19 Aug 20224 years ago
Submission Deadline
14 Nov 2021Expired
Future Notice Date
Not specified
Award Date
30 Jun 20224 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Active, Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Department for Work and Pensions
Additional Buyers

DEPARTMENT FOR WORK AND PENSIONS

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
SW1H 9NA
Postcode Area
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
2
Supplier Names

HSBC Bank Plc

Vocalink International Limited

Further Information

Open Contracting Data Standard (OCDS)

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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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