GSA SmartPay offers "payment solutions" including charge cards, cardless accounts, secure chip cards and foreign currency cards. As of August 2015, SmartPay customers can use these services through contracts with some major banks including Citibank, JP Morgan and U.S. Bank.
SmartPay generally provides services for federal agencies and organizations and Native American tribal governments. The services allow recipients of federal government funds to receive the funds quickly, easily, and without direct transaction or service fees. SmartPay provides many electronic transaction services to save money and increase efficiency for all parties involved. Another service SmartPay offers is automatic recognition of federal discount programs when using a SmartPay card at point-of-sale.
SmartPay charge cards work well for commercial uses. Users can pre-load cards with a fixed amount to stay within budget constraints and these cards offer a safer alternative to allowing employees access to petty cash. Cardless accounts work well for commercial transactions, including payments to vendors.
Secure chip cards offer a safer and quicker alternative to traditional charge cards. Foreign currency cards work well for federal agencies with operations or deployed personnel in foreign countries. This product is especially desirable because it enables agencies to spend money in the foreign currency without incurring foreign exchange fees.