NEPO505 Payment Card Services

Description

NEPO505 Payment Card Services provides UK public sector organisations with a multi-lot, multi-supplier framework agreement for Prepaid and Corporate Payments. The framework agreement features two lots: Prepaid Payments (Prepaid Cards) Corporate Payments (Commercial Procurement Cards) Prepaid Card Accounts which allow Contracting Authorities an alternative method for managing their cash disbursements and budget monitoring. Prepaid Card Accounts operate similar to a standard UK Bank Account, including the option to withdraw cash from an ATM, make regular payments, pay vendors and receive regular statements. Prepaid Card Accounts do not have an accessible overdraft facility. The Prepaid Cards operate much in the same way as a standard debit card whereby funds are preloaded by Contracting Authorities and used by the cardholder until the balance is exhausted. Primarily the Prepaid Card Accounts are utilised for Social/Health Care related Direct Payments and Appointee programmes. This is not exhaustive however and Contracting Authorities may require the Prepaid Card Accounts for additional related services such as - Adults Social Care - Appointeeship - Deputyship - Children, Families and Schools - Unaccompanied Asylum-Seeking Children - Emergency and One-Off Payments - Corporate Expenses Commercial Procurement Cards are Charge Cards which operate in a similar way to a Credit Card. They provide Contracting Authorities with an electronic method to purchase goods or services. Many public sector organisations now issue procurement cards to staff who regularly make discretionary, ad hoc or low value b2b procurements such as stationary, IT consumables, catering and welfare items, hospitality and travel. They can be used with a range of suppliers and can be embedded centrally to allow for account automation. Controls can also be placed upon them by Card Administrators limiting them, to use with only certain commodities or suppliers. Contracting Authorities can use Commercial Procurement Cards to finance a variety of service-related expenses whilst monitoring card use for compliance, fraud detection and strategic sourcing with enhanced reporting tools. This will include the ability to control spending and increase efficiency through flexible payment methods, spend restrictions including Merchant Category Group blocking, set spend limits by department or individual employees. Keywords: Prepaid, Prepaid Cards, Accounts, Payment Cards, Commercial Procurement Card s, Procurement Cards