MasterCard Purchasing Card Program
The JPMorgan Chase MasterCard Purchasing Card
is a University authorized buying method for low-cost one-time purchases of non-restricted
commodities from non-restricted suppliers. The Purchasing Card compliments the
BEN Buys purchasing system, the University’s primary buying method for most
products and services.
The Purchasing
Card Program is available to faculty, staff and students who have been formally
authorized by their School or Center Senior Financial Officer to be a delegated
“departmental buyer” for the purchase of and payment for low cost and
non-restricted commodities from non-restricted suppliers. Authorized purchasing
card cardholders are required to attend a mandatory training session prior to
receiving their purchasing card and mandatory bi-annual refresher training
sessions. Mandatory bi-annual refresher training sessions are required to retain
one’s purchasing card.
The Purchasing Card compliments the BEN Buys Purchasing System, the University’s
primary authorized buying method. As such, the Purchasing Card is not
to be used for purchases from restricted suppliers or for commodities.
The Purchasing Card may be used for purchases from preferred suppliers that are
enabled in the Purchasing Card Supplier Portal.
Cardholders must understand and abide by the Cardholder Roles and Responsibilities
and the procedures outlined in the Purchasing Card Process Document.
Use of a Purchasing Card is a privilege granted by the University, and as such, will be revoked and
disciplinary action taken in the event of abuse, inappropriate or fraudulent
use, or failure to perform required cardholder administrative duties.
About the Purchasing Card
Though it resembles and works like a personal credit card, there are significant
differences with the Purchasing Card:
- It is a corporate purchasing charge card rather than a personal credit card.
- Full liability rests with the University for payment to the bank for all transactions.
- It is assigned by the bank to the University employee but is issued in the name
of and on the behalf of the University.
- There is no impact on a cardholder’s personal credit history.
The Purchasing Card Program offers
significant benefits to Penn and our suppliers.
Program Administration
Purchasing Card Administrator
Phone: 215-898-3606
Suite 421A, 3401 Walnut
Street
There are a number of guides and documents to help authorized cardholders use their
purchasing card in accordance with University policies and procedures.
Purchasing Card
Please check our Forms section for Purchasing Card forms.
Cardholder Training
New cardholder and refresher training is provided by the Financial Training Department.
PaymentNet Application Management Tool
The JP Morgan Chase PaymentNet program management software provides School and Center senior
management with additional tools and capabilities to more effectively manage cardholder spend,
monitor overall purchase activity, risk, and compliance. PaymentNet provides many new benefits to
both cardholders and administrators responsible for the management of the University’s card program.
Cardholder Monthly Audits
Each month, the Purchasing Card Program Administrator will randomly select a number of
cardholders and visit them to conduct a formal review of their card activity, required
documentation, and compliance with policies and procedures.
