The Purchasing Card Program, supported by CT General Statute 4-98(c), is co-sponsored by the Department of Administrative Services Procurement Services and the Office of the State Comptroller. Using the P-Card streamlines and simplifies the purchasing and accounts payable functions by eliminating waste and low value activities, ultimately reducing transaction costs, and improving vendor relations. It serves as payment tool that facilitates the timely acquisition of materials, automates data transactions for accounting purposes, supports travel services and offers flexible controls.
The P-Card is a MasterCard issued by JPMorgan Chase Bank. It works much like a personal credit card. However, it is a commercial card and each card has custom designed features, with pre-set controls built into the magnetic strip, to meet the specific needs of the cardholder and the organization.
The process is fully automated, allowing all purchases to be tracked and easily managed. Each credit card issued can be monitored using an internet application to view transactions 24 hours after a purchase has been made.
The P-Card simplifies the procurement and disbursement process by facilitating point-of-demand purchasing. Purchasing authority is delegated to the ordering departments enabling the authorized cardholders to place orders directly with the suppliers.
Included in the P-Card Contract is an option for a Fuel Card Program.