Print This PageThe GSA SmartPay charge cards generate performance-based refunds for agencies/organizations. In fiscal year (FY) 2011 agencies/organizations received $298 million in refunds. Agencies/organizations have received approximately $1.9 billion in refunds since 1997.
Refunds - Types of refunds include:
- Productivity refunds: based on the timeliness and/or frequency of payments to the bank (faster payments = higher refunds)
- Sales refunds: based on the dollar or spend volume during a specified time period
- Corrective refunds: payments made to the agency/organization to correct improper or erroneous payments on an invoice
See below for annual refund data since 1997.
