The U.S. General Services Administration has awarded
Citibank and U.S. Bank contracts for its GSA SmartPay 3 program, the government's
payment scheme. SmartPay 3, worth $700 billion in payment transactions through
2031 if all extension options are exercised, includes purchase,
travel, fleet and related payment solutions for about 560 governmental agencies
and organizations. GSA
SmartPay 2, which expires on Nov. 29, 2018, when SmartPay 3 kicks in, provides
MasterCard and Visa cards through Citibank, JPMorgan Chase and U.S. Bank. In fiscal
year 2016, which ended Sept. 30, 2016, the travel card program processed $8.1
billion in transactions for its 2.5 million cardholders. Travel, purchase and
fleet card spend combined totaled $28.5 billion for 3.3 million cardholders.