Results for the Federal SmartPay (small purchase) Credit Card Program for FY 2005 are Strong
There has been continued growth in the Federal small purchase credit card program, the SmartPay program, administered by the U.S. General Services Administration. The total spent by the program rose to $17.43 billion despite fewer cardholders and fewer overall purchases. The average purchase rose to $672.15 from $644.53. The number of actual cardholders across the federal government continues to fall slightly.
(PRWEB) February 12, 2006 -- Results for the Federal SmartPay (small purchase) credit card program for FY 2005 (Oct 1, 2004 – Sept 30, 2005) are strong.
There has been continued growth in the Federal small purchase credit card program, the SmartPay program, administered by the U.S. General Services Administration.
The total spent by the program rose to $17.43 billion despite fewer cardholders and fewer overall purchases. The average purchase rose to $672.15 from $644.53. The number of actual cardholders across the federal government continues to fall slightly.
Benefits of the credit card program for government are cost avoidance over paper-based procurement, and the speed by which government employees can get products and services to accomplish their work. Benefits for vendors are speed of payment and paperwork (PO processing) avoidance. Most Federal cards have a per purchase limit of $2,500. Orders at or below this level do not require a Federal contract
Most states and many local governments are also using small purchase credit cards, though with a smaller per-purchase level.
Federal SmartPay (formerly IMPAC) Credit Card Statistics
Fiscal Year # of transactions # of cardholders Total FY $
1989 47,595 13,032 $9,088,038
1990 331,957 21,431 67,779,471
1991 730,564 35,234 167,747,687
1992 1,097,500 48,819 307,450,342
1993 1,736,373 84,284 537,501,272
1994 2,765,615 96,090 921,639,498
1995 4,246,329 130,353 1,591,836,136
1996 7,000,000+ 185,000 2.97 billion
1997 11,500,000 240,000 4.95 billion
1998 16,400,000 340,000 7.95 billion
1999 20,600,000 500,000 10.2 billion
2000 23,500,000 490,000 12.3 billion
2001 25,000,000 410,000 13.8 billion
2002 26,000,000 390,000 15.2 billion
2003 26,500,000 360,000 16.2 billion
2004 26,500,000 315,000 17.08 billion
2005 25,931,643 301,217 $17.43 billion
Statistics compiled by Amtower & Company, www.FederalDirect.net
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