The University of Oklahoma is pleased to announce they have
selected a new Purchasing Card (P-Card) program to replace the current JP Morgan
Chase MasterCard program effective June 17,
2006.
After reviewing several proposals another
MasterCard program offered by GE Capital, a subsidiary of General
Electric, was selected. University policies and procedures
regarding allowable expenditures for the credit card will not
change.
The MasterCard is accepted at over 15 million locations worldwide
making the payment process of their invoices both convenient and
productive. By using the card for all allowable business expenses, the
University of
Oklahoma will continue
to benefit from availability of increased information on small dollar
expenditures. The primary benefits
of the OU credit card program are access to companies that will not accept
purchase orders, a reduction in the number of checks issued and a reduction in
paperwork.
New applications and training on the new database will be required
for all credit card users (cardholder, reviews, approvers and reconcilers).
Additional announcements
regarding the new applications, training dates, and other pertinent information
regarding the new program will be posted starting next week on the Purchasing
website at www.ou.edu/purchasing/home and
forwarded to all current credit card users via email.