B2B Payments

Bento For Business Aims To Fuel Growth With New CEO

Chief Executive

To fuel the next era of the company’s growth, expense management platform Bento for Business has named Guido Schulz as its new CEO. The incoming executively will work closely with Founder Farhan Ahmad to “accelerate go-to-market efforts while supporting the company’s growing customer base,” according to an announcement.

Schulz most recently served as Merchant Link’s chief commercial and strategy officer. Before that time, the executive had built a payments security division powered by technology as chief commercial officer for Bluefin Payment Systems. He came to Bluefin following six years at AFEX, where he supervised development, business planning and marketing of payment platforms as well as products.

“Bento for Business has built an incredibly intuitive product that directly addresses the core cash flow and operational problems faced by the businesses that drive much of our economy, create jobs, and help build our communities,” Schulz said in the announcement. “Now more than ever, expense reduction is the single largest area of opportunity for our customers. I look forward to working closely with our team and customers alike to help businesses improve monthly cash flow as they navigate uncertain times.”

Ahmad, for his part, will stay as chairman of the board of directors of Bento. The founding CEO will keep an active and daily role heading up  operations, product innovation and platform strategy. He said in the announcement, in part, “As we’ve reached a new phase of growth ourselves, bringing on Guido is an important step for delivering the same exceptional experience to businesses as Bento’s footprint continues to expand.”

In August, 2019, Bento announced the debut of its Bento Pay solution, which lets business owners make payments by using just an e-mail address. The product lets payment recipients offer their bank credentials to take in funds faster. Users link their email addresses to their bank accounts and routing information in Bento Pay to deposit funds within their accounts.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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