Bento for Business, announced a new payment solution with Visa to transform how SMBs manage and optimize their most critical asset, cash.
Bento for Business’s financial operating platform brings more complete financial controls to SMBs for their expenses, payments and purchasing, cashless workflows, working capital, banking, and more. Visa Business debit cards will now be integrated into the platform to instantly give millions of Visa SMBs access to Bento for Business’s modular financial solutions for their distinct working capital challenges, such as budgeting, expense and spend management, and bookkeeping.
As a market leader in payments in the U.S. SMB segment, Visa provides a full suite of payment services designed to help SMBs pay and get paid, including Visa Business cards, business reporting and payment controls. “The SMB segment is a priority for Visa and we continue to be an advocate for the 30 million SMBs in the United States,” said David Simon, Global Head of Small and Medium Enterprises, Visa. “The Bento solution will evolve how Visa Business cardholders and merchants manage expenses and gain insights into their cash flow and financial management activities.”
Farhan Ahmad, Chief Executive Officer, Bento for Business, said, “We are confident that working with Visa will strengthen and accelerate our mission to bring a complete financial operating platform to the underserved SMB market and help these businesses to unlock the fullest potential of their working capital.”
“2018 was a year of unparalleled growth and exceptional innovation for Bento for Business. We rolled out new offerings tailored to the needs of SMB leaders including multi-level administration, virtual card management, and open APIs for seamless integration and development with our partners,” Ahmad added. “In 2019 and beyond, we will continue to expand our financial controls and cashless workflows for SMBs with a vision to deliver an all-in-one working capital management solution.”
Visa customers using the Bento for Business platform will immediately benefit from complete control over expenses prior to purchase, real-time insights over their cash flow, secure physical and virtual cards, 24/7 support, and access to savings on travel, fuel and other services based on their purchases.
Bento is reinventing B2B payments for a digital world. Bento’s financial operating platform allows businesses to issue payment credentials to people and systems without introducing risk. Bento virtual and corporate cards and industry-leading management tools give companies unprecedented control and visibility over company expenses, eliminating fraud and administrative overhead. Virtual Cards, open APIs, and White Label partnerships extend these control and management benefits to automate payments well beyond employee expenses.
