Allows Government Contractors to Accept Payments Faster
Virginia/October 10, 2013 – NeoSystems Corp., a provider of financial
management and other strategic back office services for government contractors,
today announced it has partnered with CardConnect, a technology company providing
enterprise-level payment acceptance solutions, to launch GovCardConnect. This Software-as-a-Service
(SaaS) offering enables organizations to directly accept credit and charge card
payments from the federal government.
who use GovCardConnect will be able to improve their bottom lines and operate
more efficiently. GovCardConnect comes fully integrated with Deltek Costpoint, the industry
leading accounting software solution for government contractors. The service
allows contractors to transmit Level 3 Processing
data – the very specific line-item details contractors must provide to be
eligible for the lowest credit card transaction fees. These lower rates can
yield savings of 25 to 50 percent. In
addition, rates as low as 1.0-1.5% are expected to soon
be achievable on large transactions.
date, the federal government has already issued approximately 3.5 million
credit cards – generally referred to as “purchase cards” – to authorized government
purchasers under the General Services Administration’s SmartPay Program. These
cards help increase the transparency and accountability of government purchases
across multiple agencies, and as such, the government is planning to expand the
use of purchase cards even further.
Tinsley, Chief Executive Officer for NeoSystems, said, “All government
contractors, whether they offer products, services or both, can benefit from
accepting purchase card payments from the government. In addition to
cost-reduction, the benefits include improved cash flow and increased sales. We
look forward to working with our current and future clients to help them
capitalize on this significant opportunity.”
meets the government’s data security standards as well as the compliance
requirements under the Payment Card Industry Data Security Standard (PCI-DSS).
In addition, GovCardConnect operates as a central payment portal for government
contractors, integrating transactions, deposits, receipts and other financial
information into Deltek Costpoint.
the collaboration of our payments knowledge and NeoSystems’ industry expertise,
we were able to develop a solution tailored to the unique needs of government
contractors,” said Jeff Shanahan, President of CardConnect. “GovCardConnect
helps contractors decrease costs and increase revenue, all while meeting the
government’s stringent accounting and auditing standards.”
is offered to all users of Deltek Costpoint and is available through NeoSystems
About NeoSystems Corp.
NeoSystems Corp., based in Tysons Corner, Virginia, delivers strategic back office services for government contractors, nonprofit organizations, and commercial entities. With expertise in Accounting & Finance, Human Capital Management, and Information Technology, our team assists companies with improving their back office functions, reducing their overhead costs and becoming compliant with complex federal requirements. For additional information visit: www.neosystemscorp.com.
About Card Connect:
CardConnect is a rapidly growing payment technology company that provides everything from comprehensive ERP integrations for large corporations to card acceptance platforms and terminals for small and mid-sized businesses. The company helps more than 50,000 businesses across the U.S. accept billions of dollars in card transactions each year. CardConnect's solutions include credit, debit and pre-paid card processing, ERP integration and PCI compliance. Founded in 2006, CardConnect is one of the 10 largest independent sales organizations (ISOs) of First Data Merchant Services, the world's largest electronic payment processor. For more information, visit www.cardconnect.com.