Penta, the German business banking challenger, partners with SumUp to target offline businesses

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Penta, the Berlin-based business banking challenger that additionally now operates in Italy, has partnered with BBVA-backed card reader firm SumUp in a bid to appeal to extra offline businesses.

Up till just lately, Penta had been focusing on digital businesses, comparable to startups and e-commerce SMEs, however has since re-positioned itself for wider business banking enchantment.

By partnering with a POS supplier providing simple card reader-enabled funds, the German challenger financial institution needs to prolong that of offline, comparable to eating places, craftsman, healthcare and designers.

Specifically, Penta says businesses can order a SumUp Card Reader through Penta, and in doing so will get monetary savings on the preliminary SumUp setup payment and give you the chance to seamlessly combine SumUp-powered funds with their Penta account.

They’ll additionally get entry to the present Penta options, comparable to having the ability to open a business banking account totally digitally, difficulty a number of fee playing cards, grant limits and permissions per card for workers, facilitate expense administration and integrating with widespread accounting instruments.

In future, the SumUp integration is deliberate to go deeper. This will embody the potential to use SumUp funds knowledge to forecast future gross sales and feed right into a businesses credit score worthiness after they search a mortgage.

“One request that we’ve had since day one has been for our customers to easily and quickly accept card payments, so we are very proud to be able to offer this with our newest partner SumUp,” says Penta CEO Marko Wenthin in an announcement.

Adds James Henry, Head of Sales and Partnerships at SumUp: “By cooperating with Penta, we will enable even more small and medium-sized companies to digitize their business and make the payment experience as convenient as possible for their customers. Penta, with its growing customer base of companies, is the ideal partner for us to reach the broad mid-market”.