The government of Canada has extended its purchasing card agreement with BMO Financial Group (BMO) and MasterCard, its official purchasing card suppliers for the past 11 years.
The new agreement will extend the relationship for four years.
Until date, BMO has issued approximately 32,500 purchasing cards across 125 Canadian government departments and agencies, accounting for 90% of the Canadian government purchasing cards.
BMO said that its purchasing card solution offers the government of Canada comprehensive payment options that streamline procurement processes by reducing costs, eliminating paperwork, maximizing working capital, and strengthening supplier relationships.
Andrew Irvine, head, corporate payments, North America, BMO Financial Group, said: "Public sector procurement managers must have full visibility into government-wide spending, and purchasing cards give them exactly that.
"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 the better benefits of responsive customer service, latest security features and, back-end reporting and expense and data analysis.