Citi Commercial Cards Awarded GSA SmartPay® 3 Master Contract
September 25 2017 - 09:00AM
Business Wire
New agreement extends Citi’s participation
through 2031
Citi has been awarded the GSA SmartPay® 3 Master Contract by the
U.S. General Services Administration (GSA) to participate in the
next generation of the largest global government charge card and
payment solutions program. This new contract allows Citi to provide
services through 2031.
The GSA SmartPay® 3 program includes: purchase, travel, fleet,
and integrated charge card services and related payment solutions
which are expected to be used by approximately 560 government
agencies and organizations. The program gives the U.S. federal
government access to a wide range of payment solutions, including
“chip” enabled charge cards, virtual accounts, single-use accounts,
and declining balance accounts.
“GSA’s SmartPay® program provides agencies across government
with payment solutions to streamline transactions, lower costs, and
more-effectively deliver services to the American people,” said GSA
Federal Acquisition Service Commissioner Alan Thomas. “We worked
closely with our industry and agency partners in developing the
next generation of the GSA SmartPay® program to ensure that GSA
SmartPay® 3 offers federal agencies more value and efficiency in
carrying out their missions.”
The value of the GSA SmartPay® 3 contracts combined is $700
billion over the entire length of the contracts, assuming all
extension options are exercised.
“We are honored that the GSA has selected Citi to provide
continued support for the U.S. government’s charge card and
payments activities,” said Gonca Latif-Schmitt, Global Head of
Commercial Cards at Citi Treasury and Trade Solutions. “The new
contract highlights our long-term commitment to serve U.S.
government agencies and to work in partnership with the GSA to
create innovative solutions that meet the government’s unique and
evolving needs.”
Citi has participated in the GSA SmartPay® program since its
inception in 1998 and has implemented and served over 300 unique
agency programs under the GSA SmartPay® 2 contract. Through the new
master contract, all U.S. federal agencies will have access to
Citi’s card and payment services from late 2018 to 2031. Citi’s
enhancements under GSA SmartPay® 3, as well as its continuous
reinvestment into its capabilities and people over the last 20
years, showcase Citi’s commitment to the U.S. federal
government.
The Global Commercial Cards business is a core business for Citi
and a key competitive differentiator from other banking
institutions. Citi’s Commercial Cards business provides Travel,
Purchase and Virtual cards solutions to institutional clients,
including corporations, financial institutions and public sector
entities. It has been recognized as a global market leader with the
largest proprietary network in the industry, with local issuance in
over 60 countries, 45 unique currencies and 30 languages. As a
leading global commercial card issuer, Citi has one of the largest
global footprints supported by unrivalled card acceptance.
Citi Treasury and Trade Solutions (TTS) enables our clients'
success by providing an integrated suite of innovative and tailored
cash management and trade finance services to multinational
corporations, financial institutions and public sector
organizations across the globe. Based on the foundation of the
industry's largest proprietary network with banking licenses in
over 90 countries and globally integrated technology platforms, TTS
continues to lead the way in offering the industry's most
comprehensive range of digitally enabled treasury, trade and
liquidity management solutions.
About Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: http://www.businesswire.com/news/home/20170925005076/en/
Media:Citi:Nina Das, 212-816-9267nina.das@citi.com
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