Awarded contract

Prepaid Card Services

Details

Buyer: London Borough of Islington
Supplier(s): Prepaid Financial Services Limited (PFS)
Value: £450,000
Duration: 4 years
Topic: Financial transaction processing and clearing-house services
Published: 7 October 2025
Source: uk:contracts_finder

Tender 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.

Timeline

Completed: Award date1 June 2025
Completed: Award published7 October 2025
Current notice
Next: Contract expiry date31 May 2029in 3 years

About the buyer

London Borough of Islington is an inner London local authority with its own Strategic Procurement Team. Tendered opportunities are managed through the London Tenders Portal, the council's free e-tendering system. Suppliers must also register on the Find a Tender Service, mandatory since February 2025 under the Procurement Act 2023. Contracts Finder lists further opportunities alongside the council's own channels. A Progressive Procurement Strategy weighs social value at a minimum of 20% in every bid evaluation. The procurement team also runs workshops to help small and voluntary sector suppliers strengthen their bids.

UK local government drives £140bn in annual procurement, led by social protection (£66.6bn) and education (£57.1bn).

Over the past 5 years, most of London Borough of Islington's contract awards have been in repair and maintenance, construction work and architectural and engineering services.

Relevant CPV codes

66172000 · Financial transaction processing and clearing-house services

Decision makers

Connect with the people behind this procurement.

Job title	Phone number	Work email
Head of Procurement	+44 •••• ••••••	••••••••@london-borough-of-islington.gov
Commercial Director	+44 •••• ••••••	••••••••@london-borough-of-islington.gov
Procurement Manager	+44 •••• ••••••	••••••••@london-borough-of-islington.gov
Category Lead	+44 •••• ••••••	••••••••@london-borough-of-islington.gov
Senior Buyer	+44 •••• ••••••	••••••••@london-borough-of-islington.gov
Contracts Manager	+44 •••• ••••••	••••••••@london-borough-of-islington.gov