US Bank to acquire small business payments software company

The transaction is expected to close in September

payments

US Bank to acquire small business payments software company. Source: pexels.com

US Bank has entered into an agreement to acquire Bento Technologies, a fintech company based in Chicago and San Francisco that provides payment and expense management services to SMBs.

Although, the financial details of the transaction were not disclosed.

The Bento platform offers businesses tools to better manage card-based payments and other expenses via spend tracking and card transaction controls.

The acquisition is part of the vision at US Bank to bring payments and banking services together to simplify cash flow and money management for small businesses.

According to the press release, Bento’s accounts payable-based software complements the bank’s existing Elavon and talech accounts receivable software solutions.

Business owners work hard every day to turn their passion into a business. Our goal is to make money management easier for them so they can spend less time on administrative tasks, and more time on doing what they love – serving their customers. This is why Bento Technologies is a great fit for US Bank
Tim Welsh, vice chair of Consumer and Business Banking at US Bank

The expense management tools from Bento Technologies will blend well with the other services US Bank offers businesses, from credit, deposit and card accounts, to modern and secure payment acceptance and digital money movement.

We’ve reported that COVID-19 accelerated the digital shift in Poland’s card payment market.

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