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Your Source for GSA-SmartPay Information! |
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| Download GSA-SmartPay Executive Summary |
Purchase Cards and How They Work |
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GSA-SmartPay purchase cards are a special type of charge card. These cards and their transaction reporting software typically possess more features, capabilities, and controls than standard consumer credit or charge cards. Purchase cards are issued to authorized cardholders to permit them to place orders and make payments directly and efficiently with merchants. The GSA-SmartPay program allows agencies to manage card use via effective controls on all transactions. Billing can be done centrally to the agency to which the cards are issued. The merchant receives payment a few days after the transaction is submitted and the card-issuing bank is paid by the agency for the aggregate amount of purchases made in the billing period. Sophisticated online transaction reporting systems are supplied by each of the five Bank providers to the agencies that they support. These systems allow the agency Purchase Card Program Coordinators to electronically view transactions on a daily basis so that they can be audited and prepared for entry into the agency's accounting systems. A powerful feature of GSA-SmartPay Purchase Card transaction reporting systems is their ability to report Level-3 line item detail for a transaction. Much like a detailed invoice, Level-3 line-item detail defines "What" is being purchased and combines that information with the payment transaction and delivers it seamlessly and electronically to appropriate agency personnel.
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Visit GSA's SmartPay Site @ [ http://www.gsa.gov/gsasmartpay/ ] | |