JPMorgan Chase has renewed its contract with the US Environmental Protection Agency (EPA) for purchase, travel and fleet charge card services.
The annual volume of the card program is expected to exceed $80 million with nearly 20,000 cards serviced. The four-year task order award, which includes two three-year renewable options, is part of the US General Services Administration’s (GSA) SmatPay 2 programme, the largest government charge card programme in the world. JPMorgan has served as EPA’s charge card provider since 2004 under the current GSA SmatPay programme.
JPMorgan’s charge card programs help government agencies reduce the time and administrative costs associated with authorising, tracking, paying, allocating and reconciling purchases. The company’s online PaymentNet visibility and reporting tool helps agencies improve compliance and auditing practices by providing real-time access to spending. PaymentNet also provides controls that help manage spending efficiently and enforce spending policies before a transaction is even initiated.
“In addition to improving compliance and cost-cutting initiatives, JPMorgan’s electronic payment methods and online reporting tool will continue to support the EPA’s goals of eliminating or reducing the paper consumption associated with procurement operations, such as purchase orders, paper checks and petty cash requests. We look forward to partnering with the EPA as they work to protect human health and the environment,” says W. Stephen Kouns, executive project manager, JPMorgan Federal Card Solutions.
JPMorgan is a member of The PayItGreen Alliance, a coalition of financial services companies, led by NACHA – The Electronic Payments Association, committed to educating consumers and businesses about the positive environmental impact of choosing electronic payments, bills and statements instead of paper.
The GSA SmatPay programme, implemented in 1998, handled more than $27 billion in sales and over 91 million transactions in 2007. The programme is used by federal agencies and organisations to obtain purchase, travel, fleet and integrated charge card services. JPMorgan has been a GSA SmatPay card provider since the original master contract, providing card services to public sector clients for more than 20 years.
To date, JPMorgan has been awarded more than a dozen GSA SmartPay 2 contracts, including charge card programs with the US Departments of Commerce, Interior and Transportation, the Appalachian Regional Commission, Library of Congress, the National Aeronautics and Space Administration, the Smithsonian Institution, the US Holocaust Memorial Museum, US Office of Personnel Management and US Social Security Administration.