Benefits of the Program
There are many benefits for customers using GSA SmartPay® solutions as a payment method.
Cost Savings Realized
Customers have the opportunity to realize administrative cost savings through payment efficiencies. In FY22 alone, the estimated administrative savings for the purchase card was $1.34 billion per year ($70 per transaction) when used in place of a written purchase order. In addition, agencies pay no direct fees to use GSA SmartPay solutions.
Agencies have the opportunity to earn refunds based on the dollar volume of transactions and the speed of payment.
Safety and Transparency
The GSA SmartPay program provides secure solutions for efficient payment transactions. Customers also have access to tools that provide increased transparency to spend and performance data.
Electronic Access to Data
Through the Electronic Access System (EAS) of the GSA SmartPay contractor banks, account managers and account holders have immediate access to complete transaction-level data, helping to mitigate fraud, waste and abuse.
Through the use of commercial payment infrastructure, customers are able to use GSA SmartPay solutions anywhere in the world where merchants accept cards.
Identification for Discount Programs
GSA SmartPay payment solutions provide other, less tangible benefits, including travel insurance and eliminating the need for imprest funds or petty cash at the agency.