Bento for Business has launched a prepaid commercial debit service for small-business owners to control how much money their employees spend on supplies or services.
The Bento MasterCard lets business owners set rules to manage an employee's expenses. For example, an owner can place an expense limit on the debit card and prevent employees from using it on certain days. Additionally, the card can be limited to use only for certain items such as gas or supplies, Bento said in a March 25 press release.
All Bento MasterCard balances are stored in a centralized account to allow business owners to track expenses by place, employee and category. The service is automated and could replace the process of filing expense reports.
"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," Farhan Ahmad, co-founder and chief executive of Bento, said in the release.