Payment Exception Service
- Published
- 2 February 2024
- Estimated value
- £18,449,282
- Place of performance
- UK
- Lots
- 1
- Notice number
- 003506-2024
- Reference
- ocds-h6vhtk-0436ba
- Official source
- Official source
CPV codes
- 66110000Banking services
- 66170000Financial consultancy, financial transaction processing and clearing-house services
- 75100000Administration services
Description
The purpose of this Prior Information Notice (PIN) is to alert potential suppliers to a future opportunity for services with specific requirements related to cash disbursement for use by some DWP customers and some other central government departments customers. The Payment Exception Service (PES) is a DWP service, required to fulfil the Secretary of State’s obligation to ensure all customers, including those who do not have a transactional account, receive their entitlement. The service will enable unbanked customers to receive full payment of entitlement, or other such payments as required through an alternative method of payment. The DWP issues fluctuating amounts of payments, on reoccurring specified payment dates, with differing payment cycles, based on individual and multiple payment entitlement, as determined by departments. The value of cash disbursement can be in excess of £40 million per month (subject to number of customers / value of payments). However this value is expected to reduce over time in line with DWP’s strategy to support financial inclusion and support customers to transition to a transactional account. The value of this contract is subject to volume of cu…
Official publications
- FTS · 003506-2024 · 2 February 2024
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Frequently asked questions
- What is the estimated value of this tender?
- The estimated value published by the buyer is £18,449,282.
- Who is the buyer of this tender?
- The contracting authority is Department for Work and Pensions (United Kingdom).
- How can I bid for public tenders in the United Kingdom?
- Bids are submitted through the official public procurement portal in the United Kingdom. El Vínculo helps you find tenders and analyse their documents; submission always happens at the official source.
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