Notice of Intent to Award a Single (or Sole) Source Procurement for point of sale payment processing services

Brief Description: To avoid any disruption in service, this request is to enter into a direct contract with Bank of America for all our POS Devices (credit card machines) and their backend payment and credit card transaction processing system. Due to the split between FirstData (now Fiserv) and Bank of America, which was finalized in December 2024, the current contract we’re on is now void and must be replaced by March 12, 2025. Estimated Value: $82,000.00. NOTE: The Estimated amount entered is based on average monthly transaction bank fees of approximately $6900/mo. Term (Years): 1 Vendor: Bank of America Justification: Bank of America has been our customer payment processor since we began accepting credit card and online payments from customers. Their system is currently linked to all our POS devices and online payment portals which will allow us to continue business as usual without any disruptions to the payment process, end user experience and Finance department activities. A switch would require us to create all new accounts, resync all our POS devices and modify our existing customer-facing websites to interface directly with a new system. Also, we will not have to redo our PCI compliance with a new third party provider as we are already in compliance with Bank of America. As this isn’t a change to the way we do business or process payments, there isn’t any additional effort or cost required. Zero interruption is service.