Bento for Business, a San Francisco, California-based B2B business payments solutions provider, as per recent reports, has announced its new first-of-its-kind digital payment solution called “Bento Pay”. The Bento Pay solution, which as per Bento will be generally available for customers in Jul. 2019, just requires the payee’s email address to facilitate payments, thus eliminating the need to set up a new account to fund recipients or share personal financial information. The transferred funds can be received by single-use virtual card or an ACH transfer.
Bento for Business CEO & co-founder, Farhan Ahmad, highlighting the efficiency of banking and payments in the consumer area, believes business payments can be bettered. “Businesses today are demanding the same level of convenience and control,” Farhad says. “They want to move away from complex, high-cost workflows towards a solution that is flexible and secure.”
With Bento Pay being a ‘significant’ new contribution to the company’s suite of B2B products, featuring debit and virtual cards, real-time payments, and ACH transfers, the company now plans to transform its image from a spending and expense management platform into a holistic payments solution provider for small businesses.
“Until now, we’ve seen no meaningful revolution in the B2B fintech space that can viably address the underserved needs of SMBs,” Ahmad adds. “We envisioned Bento as the financial operating platform of choice for SMBs, and the addition of real-time payment capabilities is a continuation of our vision.”