GSA awards $260B SmartPay® 2 Contracts
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Posted June 7, 2007
GSA announced the four winners of the governmentwide GSA SmartPay® 2 charge card service contracts. Awardees are:
Citibank N.A. of Sioux Falls, SD
GE Capital Financial Inc. of Salt Lake City, UT
JPMorgan Chase N.A. of New York, NY
U.S. Bancorp of Minneapolis, MN
Valued at an estimated $26 billion each year for 10 years, GSA SmartPay® 2 continues governmentwide purchase, travel, fleet and integrated charge card services currently provided by GSA’s SmartPay® program. GSA SmartPay® 2 is the largest government charge card program in the world.
GSA’s SmartPay® 2 makes it easier and faster for GSA customers to purchase and pay for goods and services. Using the cards also saves significant administrative time and money. Studies show that customers avoid administrative costs of between $54 and $92 per transaction with a GSA SmartPay® 2 purchase card instead of a written purchase order. This means an estimated savings to the government of more than $1.8 billion per year.
Customers save even more because GSA SmartPay® 2 cards provide performance-based refunds. SmartPay® 2 also provides customers with accurate, transaction details, and eliminates the need for Imprest funds or cash. The cards are accepted worldwide.