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University of Minnesota·Minnesota

University of MN - Prepaid Debit Card, Gift Card, and Individual Payment Program RFI

Closes 5/7/2026$50k – $500kRequest for Information
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Description

The University of Minnesota is seeking information about products and solutions for making payments to individuals, including prepaid debit cards and gift cards. The University is looking to understand potential products and solutions in these areas and is not seeking a comprehensive solution. Respondents are only required to submit information related to the portion of the RFI that pertains to their offerings and solutions. The University may use the information gathered from this RFI to inform future procurement decisions. Some key aspects of the project include: • Payments to individuals, including 1099-based independent contractors, speakers, honorariums, and one-time payments • Payments to clinical trial participants • Prepaid debit cards • Medium to low dollar gift cards The University is seeking information about the features and functionality of potential products and solutions, as well as any relevant experience or case studies that respondents may have.

Attached files

The solicitation documents live at the source — open the bid source above to download them.

Contact

John Skudlarek

[email protected]

Key dates

Opened
3/30/2026
Questions due
4/10/2026
Closes
5/7/2026

Last updated

Details

Type
Request for Information
Industry
Financial Services
NAICS
522320
Solicitation №
10003 Addendum 1

Budget estimate

$50,000 – $500,000

The dollar amount range that the client might expect to earn if they win the bid is difficult to estimate, as the RFI does not provide specific information about the scope or value of the potential contract. However, based on the fact that the University is seeking information about products and solutions for making payments to individuals, it is possible that the contract could be worth tens of thousands to hundreds of thousands of dollars per year, depending on the specific solutions and services provided. The University's current methods for making payments to individuals include checks, ACH, prepaid debit cards, and gift cards, so the potential contract could involve replacing or supplementing these methods with new solutions. Factors that may influence the likely payment range include the number of individuals being paid, the frequency of payments, and the types of solutions and services being provided.

AI estimate from the solicitation

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