U.S. Department Of Transportation Selects JPMorgan Chase For Travel Charge Card Program
Award made under GSA SmartPay®2 Master Contract
New York, February, 2008 - The U.S. Department of Transportation (DOT) has selected JPMorgan Chase as its provider for travel charge card services, the firm announced today. The contract award is part of the U.S. General Services Administration’s (GSA) SmartPay®2 program, the largest government charge card program in the world.
JPMorgan Chase will supply DOT with more than 39,000 charge cards to be used by their employees for travel purchases, according to the four-year contract. The DOT charge volume on the travel cards amounted to $130 million in fiscal year 2006.
“We are pleased that the U.S. Department of Transportation has chosen JPMorgan Chase for their travel card program,” said W. Stephen Kouns, executive project manager with JPMorgan Chase Federal Card Solutions. “We are ready to help the DOT meet their objectives to streamline payment and administrative procedures and further reduce administrative costs. We are confident that the DOT will benefit significantly and look forward to a long relationship.”
The GSA SmartPay® program, implemented in 1998, handled more than $26 billion in sales and over 98 million transactions in 2006. The program is used by federal agencies and organizations to obtain purchase, travel, fleet and integrated charge card services.
JPMorgan Chase has been a GSA SmartPay® card provider since the original master contract, providing card services to public sector clients for over 20 years. The firm is also listed on multiple GSA Schedules, including: GSA Schedule 520 - Financial and Business Solutions (FABS), GSA Schedule 36 - Office Imaging and Document Solutions and GSA Schedule 874 - Mission Oriented Business Integrated Services (MOBIS). This allows federal agencies to contract directly with JPMorgan Chase for these services. JPMorgan Chase also provides treasury solutions to over 3,000 state governments and municipalities, helping them with tax processing and enterprise content management, electronic benefits transfer programs such as food stamp and Women Infant and Children (WIC) payments, disaster preparedness, child support payments, unemployment insurance, and license, fee and violations processing.
For more information about JPMorgan Chase’s Federal Card Solutions, go to www.jpmorganchase.com/smartpay
About JPMorgan Chase
The Treasury Services business of JPMorgan Chase (www.jpmorganchase.com/ts) is a top-ranked, full-service provider of innovative payment, collection, liquidity and investment management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and operations in 36 countries, the business is one of the world’s largest providers of treasury management services. JPMorgan Chase Treasury Services is a division of JPMorgan Chase Bank, N.A., member FDIC.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com
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