Description
The City of Los Angeles is seeking a firm to provide prepaid card services, including the procurement, distribution, and management of prepaid debit cards. The selected firm will be required to provide a comprehensive, scalable commercial prepaid card solution to facilitate the disbursement of subsidies and benefits to the public. The scope of work includes card types, customization and branding, program administration and disbursement, financial capabilities and card access, compliance and security, data tracking and reporting, and customer service and support. The contract term is for five years, with an option to extend for up to an additional five-year term.
• Key features of the scope of work:
• Card types: instant issue cards, personalized cards, virtual cards
• Customization and branding: card branding
• Program administration and disbursement: administrative portal, on-the-spot registration, automated loading scheduling
• Financial capabilities and card access: fee structure, transactions, cardholder usage, cash access, preauthorization, mobile wallet integration
• Compliance and security: deposit insurance, data protection
• Data tracking and reporting: aggregate spend analytics, reporting granularity, administrative access, programmatic restrictions, unused funds reclamation
• Customer service and support: round-the-clock support, multilingual access, automated self-service