New York, March 24, 2008 - The National Aeronautics and Space Administration (NASA) has selected JPMorgan Chase as its provider for purchase, travel and fleet 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 NASA with approximately 20,000 charge cards to be used by their employees for purchase, travel and fleet purchases, according to the three-year initial contract. The contract also allows for three, two-year renewals and another one-year renewal. The NASA charge volume in fiscal year 2007 amounted to over $156 million.
"JPMorgan Chase offered NASA the best overall value for bankcard services and was rated higher than other firms on its past performance," said William McNally, Associate Administrator for Procurement at NASA and the source selection authority for this procurement.
"JPMorgan Chase, as the new provider, will help to ensure a smooth and seamless transition to a system that will enhance NASA's current card services," said W. Stephen Kouns, executive project manager with JPMorgan Chase Federal Card Solutions. "We understand the criticality of NASA's mission to pioneer the future in space exploration, scientific discovery and aeronautics research and stand ready to support them."
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 60 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
Pam Snook, JPMorgan Chase, Tel: 212-270-7013, Email: email@example.com