Business

The German business banking challenger made a partnership with SumUp to target offline businesses

The Berlin-based business-banking challenger Penta is now in a partnership with a card reader company SumUp. The main aim of this tie-up is to attract more offline companies. Penta’s primary target was digital businesses such as e-commerce SMEs. However, they are planning to expand to more extensive markets. To offer the easy card-reader enabled payments to offline businesses like restaurants and healthcare, Penta made a partnership with POS providers. Now even architects can take advantage of secure card reader-enabled payments. Penta says that companies can order a SumUp card reader via Penta. This way, customers can save the initial SumUp setup fees. Users can seamlessly integrate SumUp powered payments with their Penta account.

The German challenger back will provide existing Penta features to the SumUp users. Hence, businesses will be able to open banking account digitally, issue multiple payments cards, and grant limits per card for staff. Moreover, companies can facilitate expense management and integration with popular accounting tools. SumUp combination will go deeper in terms of future sales based on payment data. Payment data can be helpful to forecast future sales and feed into business creditworthiness when they seek a loan. Penta CEO Marko Wenthin said, “We received many requests regarding easy and quick card payment acceptance. We are very proud to be able to offer this with our newest partner SumUp.”

Penta was working on finding a better solution for offline businesses to accept card payments easily. This new partnership with SumUp will become a significant advantage in terms of payment data. Head of sales and Partnership at SumUp James Henry said, “This partnership with Penta will enable smaller and medium-sized companies to digitize their business.” He added that businesses would be able to make the payment experience convenient for their customers. SumUp and Penta together will grow their customer base to reach into the broad market.

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