JP Morgan Chase Purchasing Card
The P-Card system was implemented to facilitate procurement of standard, low dollar value items that are not available on the University’s “Preferred Vendor” e-commerce systems. It is not uncommon for transactions in this category to range from 50% to 70% of total transactions; however, account for only 10% of total cost.
It should also be noted, that certain standard commodity codes may be “blocked” from the system i.e. hazardous materials. In addition, certain vendors have policies that prohibit the use of procurement cards.
An application form is required to secure a P-Card. In completing the application, please note that the maximum transaction dollar limit is $4,999.00, and a monthly credit limit will also be established.
The major benefit derived from this system is a reduction in transaction processing cost including payment. Detailed accounting reports are provided by the system administrator to provide payment documentation and audit trails.
July 8th, 2013 Pcard Paymentnet change:
Pcard Paymentnet system changes:
Effective July 8th, the Pcard system, Paymentnet is being upgraded by JP Morgan Chase. The new Paymentnet system can be accessed at www.paymentnet.jpmorgan.com. Please note that this change does not impact your ability to use your Pcard for purchases.
The changes you will see on Paymentnet will include a web layout that is easier to navigate and will also include changes that allow it to work with Workday Cost Center and BAT key information.
The first time that you log in to the new Paymentnet site, you will need to use univ01 as your temporary password. The system will prompt you to update and create a new password. You will continue to use the same User ID as you used in the old Paymentnet system. (Exceptions are for cardholders who had User ID’s that had fewer than 4 digits. Paymentnet requires that they be at least 4 digits so in those cases, one or two zeros were added to the beginning of the User ID. For example BU02 is now BU0002). A cardholder quick reference card can be found at: http://brown.edu/Administration/Purchasing/pcards/
Cost allocations for all purchases beginning July 1st will be managed in the new Paymentnet site. www.paymentnet.jpmorgan.com
Please take a moment to check that your Cost Center and BAT key default information is correct. If you find that corrections are needed, or, if you have questions, please contact Cheryl Moan at 3-1703 or Cheryl_Moan@Brown.edu.