Bento for Business, a San Francisco, California-based B2B payment solutions provider, as per recent reports this week, has entered into an agreement with Visa on centralizing Visa as the payment card in the Bento for Business platform.
The move was aimed at helping small businesses quickly and easily manage their cash and employee expenses. With this agreement, Bento will be replacing its Mastercard prepaid commercial card offering, which was originally launched in 2015, with the Visa card.
Furthermore, this partnership agreement is to benefit the joint customers of Visa and the Bento platform with Bento’s businesses management tools which includes budgeting, capital management, employee card controls, and bookkeeping. Moreover, this move is notably to rake in Visa’s millions of business debit cardholders into potential Bento clients.
“The SMB segment is a priority for Visa and we continue to be an advocate for the 30 million SMBs in the United States,” says David Simon, global head of small and medium enterprises at 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.”
Bento plans to provide its business users with two cards for free and extending its limit to unlimited cards and administrators at $149 per month.
As for Bento’s future plans goes, Farhan Ahmad, CEO, Bento, says, “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.”