Germany-based digital business bank Penta will now support payments at offline small and medium businesses (SMBs) thanks to new partnership with card reader enterprise SumUp.
The deal will help the digital bank serve industries such as restaurants, craftsmen, healthcare and architects. Clients can now use the SumUp POS terminal to accept payments.
All transactions completed through the terminal will be added to their Penta account. In the future, Penta hopes to expand this so a sales forecast can be created, or the creditworthiness can be calculated on the receipt of sales.
Penta is a business digital bank which provides clients with a German IBAN and current account, debit Mastercard, real-time spending overview and custom categories for transactions. A customer can get Mastercards for their employees, set specific spending limits and add receipts with one click.
Penta CEO Marko Wenthin said, “Penta is the only player in the industry which started right from the beginning with a sharp focus on small and medium-sized companies who had mainly online banking needs.
“We are now expanding to serve traditional industries, which form the backbone of German and European society and economy. Individual companies such as restaurants, manufacturers, architects and healthcare professionals, are forming the largest part of the SME market in Germany and Italy, but they don’t get the attention of traditional banks that they deserve. We are changing that now, together with SumUp.”
Earlier in the year, Penta revealed it has moved past the 10,000 business customers milestone.
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