Bento, Dwolla partner for Bento Pay launch
Expense management provider Bento for Business has launched its Bento Pay B2B payment app with partner Dwolla, which has specialized in B2B payments the past few years after initially operating mobile wallet and financial institution faster payment services.
Bento Pay allows business owners to make and receive payments by sending to e-mail addresses, as the receiver inputs banking credentials to get funds in seconds. The payment app is essentially designed for small or mid-size businesses to handle employee expense payments and other transactions to vendors or suppliers.
Dwolla provides fast access to Automated Clearing House payments for Bento Pay, as customers have the choice to receive a payment through a virtual card or by ACH.
"As a result of integrating Dwolla's ACH payment API, this new product saves businesses valuable time typically consumed by writing checks or making payments by other means," Jeff Pomeroy, vice president of product at Chicago-based Bento for Business, said in a Tuesday press release.
"Our current customers have already gravitated to this new payment method, and adoption has been swift as Bento Pay is recognized as a mechanism for operational agility," Pomeroy said.
Des Moines, Iowa-based Dwolla operates a white-label API platform that allows its customers to connect to the ACH network. It has worked on the platform and various forms of other payment technology since 2008.