R003064 Electronic Fund Transfer Service

The California State Lottery (Lottery) is seeking qualified financial institutions to act as the Originating Depository Financial Institution (ODFI) for processing Electronic Fund Transfers (EFT) related to the sale and prize payment reimbursement of Lottery products, such as Scratchers and Draw Game tickets. The proposed contract term will be from September 16, 2024, to February 28, 2030, with live EFT transactions to commence on March 1, 2025. The Lottery may unilaterally extend the term of the contract for up to two additional two-year terms. Prior to going live, the selected contractor will work with Lottery staff on technical implementation and testing at no additional cost. The contract will require the selected contractor to process an estimated 625,000 EFT items monthly for approximately 23,000 retailer accounts. Pricing will be evaluated based on the contractor's submitted Cost Sheet, and small business and disabled veteran business enterprise preferences may be applied.

The Lottery does not guarantee any specific level of billable transfers or actions during the term of the contract, and the number of retailer accounts may increase or decrease. The contractor will also be responsible for picking up daily warrants from the State Controller's Office for deposit in Lottery retailer accounts. The Lottery has not listed any incumbent vendors or current contractors, and the available budget or award value is not specified in the provided information.