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Non-Tech : CECC - On the Brink of a cashless society
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To: Tadsamillionaire who started this subject8/16/2003 10:41:49 AM
From: Tadsamillionaire   of 13
 
Purchase cards are used by all federal agencies to buy goods and services for official government use. The idea behind the program, started in 1989, was to streamline government purchases by allowing agencies to deal directly with vendors, reducing administrative costs and cutting bureaucratic red tape.

While the cards are used mainly for "micropurchases," or transactions worth less than $2,500, some government employees are authorized to buy above that limit. Pierre was among those with greater authorization.

In fiscal year 2001, federal card holders made 24 million purchases valued at $13.7 billion, according to the General Services Administration, which also estimated that the program would save approximately $1.3 billion a year.

abcnews.go.com
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