Brink’s Partners with Bento for Business to Transform Employee Spending and Expense Management
September 14 2017 - 1:15PM
Brink’s (NYSE:BCO) and Bento for Business, the award winning
provider of expense management solutions, today introduced the
Brink’s Travel & Expense Debit Card. The Brink’s T+E debit
card, powered by Bento, enables companies to quickly and easily set
specific spending parameters for each employee and tie expenses
into a complete management platform. The announcement was made
today at FinovateFall 2017 in New York City.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/2de538cd-82e7-4c3c-ac1c-47fda3fa40a4
Bento provides Brink’s customers with smart debit cards that can
be controlled remotely via a computer or phone in real time. The
Brink’s T+E debit card allows businesses to set each employee’s
spending limits by day, week, or month and restricts when and where
cards can be used, helping to prevent employee expense leaks before
they occur. For example, an employee might be allowed to use his or
her corporate debit card to pay for gas at the pump but not to
purchase snacks and drinks at the store inside the gas station. Any
unauthorized transactions are simply declined. Employers can turn
cards on or off with a single click while employees assume no
personal liability, risk, or credit checks.
Brink’s T+E debit cards are tied into Bento’s industry leading
expense management platform, which offers administrators access to
a powerful, easy-to-read dashboard that gives them quick insight
into employee spending. The platform provides highly customizable
two-way alerts to keep businesses informed of unexpected activity
and syncs seamlessly with Intuit Quickbooks® in a single click to
ensure that accounts are always accurate and up-to-date.
Additionally, employees benefit from the ability to take pictures
of their receipts to automatically submit charges, eliminating the
need for filling out and reviewing time-consuming expense
reports.
“Mastercard continues to bring the convenience, flexibility and
security of prepaid products to small and medium-sized businesses.
By aligning with Brink’s and Bento, underserved sectors of the
business market will benefit from financial innovation," said
Solana Cozzo, North America Market Vice President of Prepaid
Product Management for Mastercard.
“Fraud and expense mismanagement can absolutely destroy a
business,” said Dominik Bossart, SVP Americas of The Brink’s
Company. “We partnered with Bento because its innovative solution
protects businesses in the best possible ways. Its debit cards make
life far simpler for employees while providing organizations with
outstanding control and greater accuracy in expense reporting.”
One third of all businesses that go bankrupt in the U.S. do so
because of employee misuse of funds, amounting to $3.7 trillion
lost each year globally, according to the 2016 Global Fraud Study
by Association of Certified Fraud Examiners. Additionally,
businesses spend an average of 20 hours per week just on expense
administration. Bento’s expense management platform and business
debit card solution reduces fraud and other misuse of funds, saves
hours of administrative time each week, as well as provides much
needed clarity on cash and expense flow.
“Brink’s is an ideal partner for us in that every product it
introduces is directed at solving significant pain points for
thousands of SMBs,” said Farhan Ahmad, CEO of Bento. “We share that
philosophy and together we can empower these businesses by solving
their everyday challenges in very simple ways that make a dramatic
impact on the bottom line.”
The new Brink’s T+E debit card powered by Bento joins Brink’s
suite of payment solutions, now available to customers nationwide
online at http://www.brinkstravelcard.com/brinkstravel and
direct marketing channels.
About The Brink’s CompanyThe Brink’s Company
(NYSE:BCO) is the world’s premier provider of secure transportation
and cash management services. For more information, please
visit The Brink’s Company website at www.Brinks.com or call
804-289-9709.
About Bento for BusinessBento for Business
provides financial solutions that fit small businesses, combining
the security of a bank with the ease and convenience of a modern
technology company. The first product on the Bento platform, the
Bento Prepaid Commercial Mastercard®, provides small business
owners with much needed controls and better features than more
expensive and cumbersome enterprise solutions. The company’s
founders have their roots in large financial services firms such as
Barclays, JPMorgan Chase, Blackhawk Network, and Discover Card.
Based in San Francisco and Chicago, Bento is venture backed. Learn
more at www.bentoforbusiness.com or call 866-220-8455.
Brink’s T + E business debit Mastercard is issued by The Bancorp
Bank pursuant to a license by Mastercard International
Incorporated. Mastercard is a registered trademark, and the circles
design is a trademark of Mastercard International Incorporated.
For Editorial Contact:Marisa LamGMK
Communications for Bento for
Businessmarisa@gmkcommunications.com650.544.3350
Brinks (NYSE:BCO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Brinks (NYSE:BCO)
Historical Stock Chart
From Sep 2023 to Sep 2024