To date, BMO has issued approximately 32,500 purchasing cards across 125 Government of Canada departments and agencies
TORONTO—The federal government has renewed its purchasing card contract with BMO and MasterCard, its card suppliers for the past 11 years, BMO Financial Group has announced. The agreement will extend the relationship for four years. To date, BMO has issued approximately 32,500 purchasing cards across 125 Government of Canada departments and agencies, accounting for 90 percent of Canadian government purchasing cards.
BMO’s purchasing card solution offers the Government of Canada payment options designed to streamline procurement processes by cutting costs, eliminating paperwork, maximizing working capital, and strengthening supplier relationships, according to the bank. As a result, the federal government can improve spend policy management and compliance.
“Public sector procurement managers must have full visibility into government-wide spending, and purchasing cards give them exactly that,” said Andrew Irvine, head of corporate payments, North America, BMO Financial Group. “Our innovative solutions ensure that new and improved processes can integrate easily into current work streams, and provide unprecedented controls and analysis capabilities for the Government of Canada.”
The purchasing cards are used for government employees’ purchasing, and include customer service, security features and, back-end reporting and expense and data analysis.
“The BMO-issued MasterCard Purchasing Cards will continue to allow the federal government to gain stronger purchasing power through our unmatched global acceptance and spend controls,” said Sasha Krstic, senior vice-president & group head, global products & solutions at MasterCard Canada. “Our longstanding partnership with BMO ensures the federal government can effectively manage its procurement strategy and processes, and also provide a seamless experience for employees.”