Stored Value Card Program

Tarleton State University, a member of the Texas A&M University System, is seeking a comprehensive stored value card program vendor through RFP25-0002. The procurement aims to establish a program for issuing and managing prepaid and stored value cards for small dollar payments and reimbursements, including research participant payments, student certification exam reimbursements, travel payments, and conference travel stipends. The selected vendor will be responsible for designing, manufacturing, and delivering physical and virtual stored value cards with customization options, establishing a cardholder portal/app, providing fund management capabilities, and delivering customer support and reporting functionalities. Proposals must be submitted by December 19, 2024, at 3:00 PM Central Time, with an expected contract start date of February 4, 2025. The contract term is five years with an option to renew for an additional five years. Evaluation criteria will include cost/pricing (30%), experience and qualifications (30%), implementation and timeline milestones (20%), and security/compliance (20%). Key procurement dates include a question submission deadline of November 26, 2024, with answers posted on November 27, 2024.

The university promotes Historically Underutilized Business (HUB) participation with specific goals across different categories: Building (1.58%), Special Trade (38.19%), Professional Services (11.90%), Other Services (24.11%), and Commodity (29.06%). Vendors must submit a HUB Subcontracting Plan if subcontractors will be used, though subcontracting opportunities are not anticipated. The current payment volume is approximately $50,000 annually, with payments ranging from small transactions to larger stipends exceeding $1,000. The stored value card program will not replace the existing CBORD CS Gold system used for meal plans and Texan Bucks transactions. Vendors must maintain various insurance coverages, including workers' compensation, automobile liability ($1,000,000), and commercial general liability ($2,000,000 aggregate). The program will be implemented in a limited deployment in late spring, with full implementation expected by August 1, 2025. Multiple point-of-sale locations across campuses will support the use of debit cards for dining, merchandise, and concessions.