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

Background
The University of Minnesota is seeking to enhance its payment methods for individuals, including independent contractors, speakers, honorariums, and financial aid disbursements.
The goal of this Request for Information (RFI) is to explore additional solutions and products that can replace traditional payment methods such as checks and cash advances, thereby improving efficiency in their payment processes.

Work Details
The RFI covers several key topics:
(1) Payments to individuals;
(2) Payments to clinical trial participants;
(3) Prepaid debit cards;
(4) Medium to low dollar gift cards with a minimum value of $5.
Respondents are encouraged to provide information on their products and services related to these categories. The University is particularly interested in understanding the features and capabilities of potential solutions that could complement or expand its existing prepaid debit card program.

Period of Performance
The RFI process is ongoing, with a close date extended to May 7th, 2026.

Place of Performance
The services and products will be utilized by the University of Minnesota, located in Minnesota.

Bidder Requirements
Respondents must ensure compliance with the submission guidelines outlined in the RFI. This includes providing accurate and complete responses, adhering to mandatory attributes marked with an asterisk, and submitting all required documentation electronically through the MBid sourcing tool.