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  5. ›Prepaid Debit Card

State of Tennessee·Tennessee

Prepaid Debit Card

Closes 6/20/2025$500k – $2MRequest for Proposal
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Description

The State of Tennessee is seeking a contractor to provide prepaid debit card services for the delivery of state agency program benefits to recipients. The contractor will be responsible for providing a secure, convenient, and accurate payment delivery mechanism for state payments sent to cardholders. The services will include all in-network ATM cash withdrawals, unlimited cash access via a bank teller, 24/7 access to a secure website, monthly account access, all customer service calls, electronic transfers to a bank account, and online bill pay functionality. The contractor will also be required to provide all services free of charge to the Individualized Education Accounts and Payroll Card Accounts. Some key points to consider: • The contractor must ensure that all state data is housed in the continental United States and must comply with the State's Enterprise Information Security Policies. • The contractor must maintain a documented Disaster Recovery plan and perform at least one Disaster Recovery Test every 365 days. • The contractor must comply with the Americans with Disabilities Act (ADA) of 1990, as amended, and provide software license and support warranties. • The contractor must not subcontract, transfer, or assign any portion of the contract without prior approval from the State. Some benefits of this opportunity include: • The chance to work with the State of Tennessee and provide a valuable service to its citizens. • The opportunity to demonstrate expertise in prepaid debit card services and information technology security. • The potential for long-term contract renewal and expansion of services.

Attached files

Contact

Sharon Pope(Solicitation Coordinator)

[email protected]

(615) 741-9588

Key dates

Opened
5/5/2025
Questions due
5/20/2025
Closes
6/20/2025
Projected award
7/23/2025

Last updated

Details

Type
Request for Proposal
Industry
Financial Services
NAICS
522320
Solicitation №
31701-03585

Budget estimate

$500,000 – $2,000,000

The budget for this opportunity is not explicitly stated in the RFP document. However, based on the scope of work and the requirements for the contractor, it is likely that the budget will be in the range of $500,000 to $2 million per year, depending on the number of cardholders and the volume of transactions. The budget may also include additional fees for services such as customer support and maintenance. Factors that may influence the likely payment range include: • The number of cardholders and the volume of transactions. • The level of complexity and customization required for the prepaid debit card services. • The level of competition among bidders and the pricing strategies of the contractors. • The State's budget and funding constraints.

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