Published date: 7 October 2025

Awarded contract - This means that the contract has been awarded to a supplier.


Closing: 31 May 2025, 12pm

Contract summary

Industry

  • Financial transaction processing and clearing-house services - 66172000

Location of contract

London

Value of contract

£450,000

Procurement reference

2425-0256

Published date

7 October 2025

Closing date

31 May 2025

Closing time

12pm

Contract start date

1 June 2025

Contract end date

31 May 2029

Contract type

Service contract

Procedure type

Call-off from a framework agreement

A mini-competition or direct purchase from a pre-established framework agreement.

Contract is suitable for SMEs?

No

Contract is suitable for VCSEs?

No

Description

This contract provides long-term prepaid card services to support Islington Council's operations across Adult Social Care, Children's Services, NRPF, Client Finance, and Education. The service enables secure electronic fund transfers, real-time expenditure monitoring, and reduced manual payment processes, supporting a cashless model and safeguarding vulnerable clients.

The contract was awarded via direct call-off from the NEPO505 Payment Solutions framework to Prepaid Financial Services (PFS), the incumbent provider. PFS was selected for their ability to meet all technical and operational requirements, including robust reporting and continuity of service.

The contract commenced on 1 June 2025 and runs until 31 May 2029.

Award information

Awarded date

31 May 2025

Contract start date

1 June 2025

Contract end date

31 May 2029

Total value of contract

£450,000

This contract was awarded to 1 supplier.

Prepaid Financial Services

Address

4th Floor 35 Great St. Helen's, London, England, EC3A 6AP

Reference

Companies House number: 06337638

Supplier is SME?

No

Supplier is VCSE?

No

About the buyer

Address

Islington Town Hall, Upper Street
LONDON
N1 2UD
England

Email

procurement@islington.gov.uk