Can Email Change The Payments Game For SMBs?
Poor cash flow is a business killer. Almost half of all businesses fail within the first four years because of poor cash flow management. A big part of that ongoing struggle is the pervasiveness of checks as the primary method for how businesses, particularly small businesses, are paid — and the delays and uncertainty overpayment that can create.
However, efforts are picking up to move more of those payments from checks to digital methods. Also, that push was the main subject of a new PYMNTS discussion featuring Karen Webster and Farhan Ahmad, founder and CEO at Bento for Business.
Just a few weeks ago, the company launched its new service called Bento Pay. The tool enables business owners to send immediate, digital payments to creditors using only a stored email address — the company said the service is made possible via a new integration to the Dwolla ACH payment application programming interface (API).