Bento for Business, a provider of financial solutions for small businesses, has rolled out a new prepaid commercial MasterCard solution targeting small businesses that depend on employees to purchase supplies or services.
Called Bento MasterCard, the new solution will save owners time and help reduce expense ‘leaks,’ a type of fraud that can cost them up to 5% of their revenue each year.
The card offers benefits such as anyone can qualify for Bento, business owners can set up their Bento accounts and order cards with just a few clicks, all balances are held in one centralized account and also owners can set rules by employee, amount, time and category.
The solution can be enabled and disabled with just one click and also contains straightforward dashboards that allow owners to see everything in one place and track expenses by place, employee, project, category and more.
Using the card, owners will be able to access Bento account via any computer or mobile device and easily export to QuickBooks or other accounting programs.
Open Deck Transport director of business development Travis Ostergards said: "With Bento, we have eliminated the need for contractors to submit expense reports, since it’s all automated.
"On top of that, we can set controls on the type of items purchased and the amounts spent. We think Bento can be one piece of a larger strategy for retaining our drivers by making the expense process much simpler than our competitors’."
Bento’s CEO and co-founder Farhan Ahmad said: "We set out to create a commercial card that would eliminate the administrative and financial headaches small business owners face when trying to manage their spending, without putting their credit on the line."