A Growing Method of Payment Evolves Online
THE GENERAL SERVICES ADMINISTRATION (GSA) has good reason to be proud of its commercial card program, which has experienced remarkable success over its nearly two-decade existence. It began as the commercial card program designed to simplify micro-purchase payments and was renamed SmartPay a decade
During fiscal year (FY) 2005 alone, SmartPay processed $24.95 billion worth of agency supplies, fleet maintenance, and travel expense payments. With more than 2.6 million cards issued, SmartPay is at least eight times larger than the next largest program in the commercial card world.
As our government is faced with buying more and more commodities with fewer and fewer acquisition and finance personnel, SmartPay's impressive accomplishments have placed it in perfect position to tackle the next frontier of growth-buying commodities online. And our federal government doesn't just buy a few commodities; it buys tens of billions of dollars worth each and every year.
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