Payment Initiation Services
National Savings and Investments · London
Key facts
- Awarded
- 21 Nov 2025
- Contract starts
- 29 Aug 2026
- Contract ends
- 29 Aug 2030
- Procedure
- Call-off from a dynamic purchasing system
- Buyer type
- Central government
- Source
- Contracts Finder
Awarded to
| Supplier | Value |
|---|---|
| Ecospend Technologies Limited | — |
Description
NS&I has a requirement for the provision of Payment Initiation Services in order to make it easy for our customers to pay NS&I by bank transfer using a secure, simple and efficient process.
NS&I Customer research has shown that three key factors influence how customers choose to pay: Security, Ease and Confidence. Payment initiation offers a well-defined journey, with the necessary account details securely transferred using Open Banking technology. This reduces the risk of the customer making an error, and makes it easier for the customer to complete the task than a manually set up bank transfer. For NS&I, Payment Initiation is more cost-effective than debit card. Through the use of Payment Initiation, NS&I aims to reduce our future payment costs.
We expect the Supplier to provide Application Programming Interfaces (APIs) to allow NS&I to enable our customers to seamlessly transition from our new mobile app or future website, to the customer's own bank and back to our online service for confirmation. The API should pre-populate the sort code, account number, account name, payment amount and payment reference.
At a later date, NS&I may also require the following additional services:
- Account Information, including the following services: Fraud Services, Identity Services, Income Verification Services, Affordability Services, Risk Identification Services and Transaction/ Fund Tracing and Monitoring Services. - Confirmation of Payee
**Contract awarded via Further Competition under the Government Commercial Agency Open Banking (Data, Digital Payments & Confirmation of Payee Services) DPS RM6301.**
Additional information: Contract includes one optional 12 month extension period.
Categories (CPV)
- 66000000 Financial and insurance services
- 66100000 Banking and investment services
- 66110000 Banking services
- 66111000 Central bank services
- 66112000 Deposit services
- 66113000 Credit granting services
- 66113100 Micro-credit granting services
- 66114000 Financial leasing services
- 66115000 International payment transfer services
- 66120000 Investment banking services and related services
- 66121000 Mergers and acquisition services
- 66122000 Corporate finance and venture capital services
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