Does Your Business Accept GSA SmartPay Cards?
We are contacted frequently by businesses and government vendors inquiring about needing the ability to accept GSA SmartPay Ghost Cards.
The federal government has its own version of a credit card. The GSA SmartPay Card isn’t really for consumers so much as for federal employees. The General Services Administration SmartPay Card makes purchasing goods and services easier than ever before, and it contains some useful parallels for consumers interested in credit and debit cards.
The whole idea behind the GSA SmartPay Card is to eliminate the massive amount of paperwork that use to be required when ordering good or services for government agencies.
The GSA SmartPay Program is a kind of central organizer for a set of contracts, through which agencies obtain the charge cards for employees. There are four kinds of cards: purchase, travel, fleet and integrated cards. Banks get chosen for the program and provide the cards. As of this writing, Citibank, JPMorgan Chase, and US Bank are the three GSA card issuing banks.
What is a ghost card?
A ghost credit card is nothing more than a virtual version of the GSA SmartPay Card. Government agencies, corporations, and other large employers use ghost credit cards as an alternative to issuing credit cards to employees. Each employee uses a ghost card number, and the organization pays for all charges using a single account.
A single-use account does not require a physical credit card to function like one. It’s a virtual account number that may be used for a limited period of time, for a limited dollar amount, or for a specific vendor along with other limitations and restrictions.
These ghost card numbers can be processed like any other commercial credit card, and they qualify for Level 3 interchange rates. So if your business or organization accepts GSA SmartPay Cards as payment, it is essential that your merchant account is set up for Level 3 Payment Processing, or else you risk losing valuable profit margin on those transactions due to high processing rates and fees.
Tailored Transactions specializes in setting up B2B and B2G merchant accounts, and we offer a customized virtual terminal that will allow you to quickly and easily process Level 3 credit card transactions.
To learn more, follow the link below to contact us. We will answer any questions that you may have and provide you with a no-obligation free rate quote for your merchant services.
Visit us online at www.TailoredTransactions.com or call us direct at (888) 669.1686