The General Services Administration (GSA) last Tuesday (Sept. 5, 2017) announced that it has awarded two American banks with major contracts to manage the government’s next-generation charge card system.
GSA said that Citibank, N.A., and U.S. Bank would handle the implementation of SmartPay 3, the newest iteration of the federal charge card program. The contracts will facilitate a potential $700 billion in charge card expenditures and related payment transactions if the government exercises all of its extension options.
The GSA’s SmartPay program provides federal employees with chip-enabled charge cards, online accounts and other services that allow them to expense purchases, travel and fleet costs to their agencies. SmartPay 3 will replace the GSA’s current charge card program, SmartPay 2, when it expires on Nov. 29, 2018. The new contract runs through November 2021 with the option to extend for an additional 10 years. Agencies can now begin issuing task orders to contractors under SmartPay 3.
Keep reading this article at: http://www.govexec.com/technology/2017/09/gsa-awards-700b-contract-federal-charge-card-program/140750