--- title: "INTERNATIONAL PAYMENT SERVICES" ocid: "ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519" canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519" markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519.md" json_url: "https://d3tenders.com/contract/ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519.json" source: "Contracts Finder" current_stage: "Tender" buyer: "BOURNEMOUTH UNIVERSITY" published: "2022-04-25" --- # INTERNATIONAL PAYMENT SERVICES Buyer: BOURNEMOUTH UNIVERSITY Current stage: Tender OCID: ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519 [View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519) [Download OCDS JSON](https://d3tenders.com/contract/ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519.json) ## Summary Bournemouth University is facilitating a procurement process for "International Payment Services", aimed at enhancing its international payment capabilities. This tender falls within the financial and insurance services category and is located in Bournemouth, South West England. The current procurement stage is active, with the tender period set to close on 29 April 2022. The tender employs an open procurement method, allowing for wide participation, and the contract duration is expected to commence on 1 July 2022 and extend until 30 June 2029. This tender presents significant opportunities for businesses engaged in financial technology, payment processing, and international transaction services. Companies that can provide a robust online payment platform, secure beneficiary verification processes, and efficient transaction management would be particularly well-suited to compete. With Bournemouth University managing approximately 670 payments annually across various currencies, this opportunity could bolster partnerships and business growth for capable service providers in the financial sector. ## Notice The University currently uses a specialist provider to make international payments originating from Sterling. Approximately 670 payments are made annually. Of these, some 15% are euro either through the specialist provider or the University's EUR bank A/C, 16% are US Dollar, 52% Sterling and 17% for all other currencies. Each beneficiary's payment details are emailed to the provider who do money laundering & criminal record checks against each beneficiary, set them up on their system & email confirmation that they're set up. Approved invoices and payment requisitions are received in PDF format, and they are manually input into the providers online platform. 2 main types of payments are required. 1. Payments in a designated currency. 2. payments in a designated currency at a set GBP value. When raising the payment, the beneficiary needs to be able to be selected without having to input all their details for each payment. Authorisation is required on the online platform from the authorised signatories within Finance. When the approver logs in a list of payments to be made should be available with checkboxes so approvals can be done together as well as the option to drill down into the payment to approve. When the payments are released a remittance advice is emailed to the beneficiary by the provider. Payment to the Provider is taken for each payment made by Direct Debit. The Direct Debit must be per payment so the bank transactions can be reconciled to the overseas payments. A manual process follows to update the Ledger. The wire confirmations are downloaded and loaded onto the ledger & are accounted for in GBP once the payment has been sent. The original currency of the transaction is not recorded on the ledger. During the period of the appointment the University expects to place the business that is the subject of this tender with the Appointee, but it reserves the right to place a limited proportion of its business with other providers (e.g., due to the beneficiary country or payment currency). The University would not expect to place such business without first consulting the Appointee and giving the Appointee the opportunity to undertake the business. Additional information: Documents are available via https://in-tendhost.co.uk/bournemouthuniversity Is a Recurrent Procurement Type? : No ## Key Details | Field | Value | | --- | --- | | Publication source | Contracts Finder | | Latest notice | https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c | | Notice type | Tender Notice | | Procurement type | Standard | | Procurement category | Services | | Procurement method | Open | | Procurement method details | Open procedure (below threshold) | | Tender suitability | Not specified | | Awardee scale | Not specified | | All stages | Tender | ## Dates | Field | Value | | --- | --- | | Publication date | 25 Apr 2022 | | Submission deadline | 29 Apr 2022 | | Future notice date | Not specified | | Award date | Not specified | | Contract period | 1 Jul 2022 - 30 Jun 2029 | | Recurrence | Not specified | ## Values | Field | Value | | --- | --- | | Tender value | Not specified | | Lots value | Not specified | | Awards value | Not specified | | Contracts value | Not specified | ## Status | Field | Value | | --- | --- | | Tender status | Active | | Lots status | Not specified | | Awards status | Not specified | | Contracts status | Not specified | ## Buyer | Field | Value | | --- | --- | | Main buyer | BOURNEMOUTH UNIVERSITY | | Locality | BOURNEMOUTH | | Post town | Bournemouth | | Postcode | BH1 3LH | | Country | England | | ITL 1 | TLK South West (England) | | ITL 2 | TLK6 North Somerset, Somerset and Dorset | | ITL 3 | TLK63 Bournemouth, Christchurch and Poole | | Local authority | Bournemouth, Christchurch and Poole | | Electoral ward | Bournemouth Central | | Westminster constituency | Bournemouth West | | Delivery location | TLK South West (England) | ## CPV Codes ### Divisions - 66 - Financial and insurance services ### Codes - 66000000 - Financial and insurance services ## Release History - 25 Apr 2022 at 10:20 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 25 Apr 2022 at 10:19 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 4 Apr 2022 at 15:31 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 4 Apr 2022 at 15:31 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 4 Apr 2022 at 15:28 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 31 Mar 2022 at 17:03 - TenderAmendment - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c - 31 Mar 2022 at 16:48 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c ## Documents - https://www.contractsfinder.service.gov.uk/Notice/d6d952a9-2e44-4cbc-b1d3-c96487f0541c 25th April 2022 - Opportunity notice on Contracts Finder - https://in-tendhost.co.uk/bournemouthuniversity/aspx/ Additional information on how to apply for this contract ## Notice URLs - http://www.bournemouth.ac.uk - https://in-tendhost.co.uk/bournemouthuniversity ## Provenance This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-6aed964b-6eed-442c-a73e-41f1cda66519.json.