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Fort Worth gets rebate from Chase for procurement card use

Posted Dec. 14, 2018

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Fort Worth received a rebate for $219,690 as part of its procurement card banking relationship with JPMorgan Chase & Co.

The procurement card (PCard) program allows designated City of Fort Worth employees to purchase goods and services that do not require a formal competitive procurement under $3,000 annually citywide. The program is used for procuring small-dollar-value goods, services not requiring insurance, one-time purchases and approved travel expenses.

Procurement cards may also be used for annual agreement purchases where such use has been approved and arranged by the Purchasing Division of the Financial Management Services Department.

The city had approximately 38,000 transactions for 2017 for a total of $13,880,464.56

A consortium of Chase card users has grown from roughly $300 million in annual spend to the 2018 spend amount of $630 million and now includes 337 members — mostly Texas-based local government organizations, with the City of Fort Worth being the anchor entity for the JPMorgan Payment Consortium since 2007.

This year’s total consortium rebate payout amounts to more than $9.3 million, with the City of Fort Worth’s portion of the rebate being $219,690.

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