Item - 2020.PA20.8

The Board of Directors of Toronto Parking Authority:

1.  Authorized the President, Toronto Parking Authority to negotiate, enter into, and execute on behalf of the Toronto Parking Authority, a non-competitive agreement with Moneris Solution Corporation (Moneris) for the provision of credit/debit card payment processing services, containing terms and conditions substantially similar to the terms and conditions contained umbrella agreement, as amended, currently in place between the City of Toronto (City) and Moneris arising from the City’s Request for Proposal 3401-16-3008, and otherwise in a form satisfactory to the City Solicitor, with the following modifications the term of the agreement between the Toronto Parking Authority and Moneris shall be for an three-year period ending December 31, 2023, with an option, to be exercised at the sole discretion of the President, Toronto Parking Authority, to renew the agreement for four (4) further one (1) one-year terms.

Call Number: City of Toronto Request for Proposal Number 3401-16-3008

Call Issued: July 8, 2016

Call Closed: August 5, 2016

Number of Bids: Two

Description:

The total contract award for credit/debit payment processing services for a five-year period, including all option years with the option to renew the contract for five additional separate terms of one year each at the sole discretion of the Treasurer was estimated to be $30,168,984 net of all applicable taxes. Costs were estimated as they are dependent on the volume of transactions paid by credit and debit cards. The contract commenced on February 1, 2017.