Usio, Inc. — Prepaid transit debit cards

Sourcewell, a Minnesota local government unit and service cooperative, has entered into a Master Agreement with Usio, Inc. for the provision of prepaid transit debit cards and comprehensive transportation services payment solutions. This cooperative purchasing program allows eligible public agencies, including governmental, educational, nonprofit, and tribal entities across the United States and Canada, to procure physical and virtual cards, digital wallets, and integrated mobility platform services. The scope of work includes essential back-office support such as account management, real-time transaction reporting, fraud detection, and customer support. The contract carries an estimated value of 25 million dollars and is effective for a four-year term expiring April 8, 2030, with options for up to three one-year extensions. Under the terms of the agreement, Usio, Inc. provides specific pricing benefits to participating agencies, including a 0.5 percent disbursement fee discount, a 10 percent reduction in physical card issuance fees, and a 25 percent reduction in virtual card issuance fees. The award was determined through a trade-off evaluation process that prioritized pricing, the depth and breadth of solutions, and the ability to deliver services. Administratively, the contractor is required to submit quarterly sales reports via the Sourcewell Procurement Portal and remit an administrative fee of 1 to 2 percent of quarterly sales to Sourcewell. Performance is conducted nationwide across the U.S. and Canada, with acceptance occurring at the level of the individual participating entities.