NEW YORK--(BUSINESS WIRE)--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.
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.
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