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Penny Inc. description
Penny Inc. is an expense management and payments platform designed for small businesses in the USA. The software provides a reloadable debit MasterCard that integrates with its expense management app, giving businesses real-time visibility into employee spending. Penny Inc. enables automated expense tracking, budgeting, and simplified accounting reconciliation through integrations with popular cloud accounting software. This eliminates manual expense reports, reimbursements, and lost receipts.
Who is Penny Inc. best for
Penny Inc. is great for small businesses in the USA looking for simple expense management and payment solutions. The reloadable debit MasterCard gives businesses real-time visibility into employee spending. We find that users like the automated expense tracking, budgeting, and accounting reconciliation features, which eliminate manual expense reports and lost receipts.
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Perfect for small teams (1-100 employees) seeking simple expense management and real-time visibility into company spending.
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We find Penny Inc. is frequently used in the finance, banking, and insurance industries for expense tracking and budgeting.
Penny Inc. features
Supported Expense Management: Penny Inc offers expense management services to assist Business Account Owners in managing corporate expenses. |
Supported Business Account and Card Accounts: Penny Inc provides a Business Account to facilitate the issuance and use of Cards by Authorized Users for commercial business purposes. Each Card Account is a notional sub-account of the Business Account that enables the Business Account Owner to track the balance of funds allocated to the Card linked to such Card Account. |
Supported Card Account Settings: Business Administrators can set certain limits (Settings) for each Card and the allocated Card Account through the Website. Authorized Users are not permitted to establish or modify the Settings. For example, a Business Administrator may establish Settings that limit the amount of funds that may be allocated to a Card Account or the amount of transactions that may be performed with a Card in a day or month. |
Supported Card Usage: Authorized User may use a Card to make purchases at any merchant that accepts MasterCard debit cards or debit cards of other networks in which the Bank participates, subject to the available Card Account balance, the transaction limits and transaction restrictions outlined below, and the other terms and condition of this Agreement. |
Supported Fund Transfers: Penny facilitates the transfer of funds from the Business Account Owner to each Card Account. Funds may be transferred to a Card Account on a recurring or a one-time basis. |
Supported Digital Platform: Penny provides a digital platform, accessible through a mobile application and/or website (the “Website”), that enables the Business Account Owner to manage each Card Account. |
Supported Real-Time Transaction Tracking: Penny Inc allows for real-time tracking of card transactions, providing immediate insights into spending activity and balances. It helps businesses stay informed about employee spending patterns and facilitates quick identification of discrepancies or fraud. |
Supported Transaction History and Reporting: Penny Inc offers detailed transaction history and reporting capabilities. This includes insights into spending patterns, budget allocation, and vendor relationships. It provides businesses with the data they need to improve budgeting and vendor management decisions. |
Penny Inc. pricing
The commentary is based on 4 reviews from Penny Inc. G2 reviews.
We find that Penny Inc. offers a free service, which is a significant advantage for users. However, some have mentioned occasional discrepancies in balances after transfers, though these seem minor. Overall, the free pricing model appears to be a highlight for many.
See the Penny Inc. pricing page.
Penny Inc. alternatives
Penny Inc. FAQ
We find that Penny Inc. offers a helpful expense management and payments platform geared towards small businesses in the USA. It provides a business debit card with real-time expense tracking and budgeting features, simplifying accounting through integrations with popular software. This eliminates manual expense reports and reimbursements.
What is Penny Inc. and what does Penny Inc. do?
We find that Penny Inc. offers a helpful expense management and payments platform geared towards small businesses in the USA. It provides a business debit card with real-time expense tracking and budgeting features, simplifying accounting through integrations with popular software. This eliminates manual expense reports and reimbursements.
Penny Inc. integrates with popular cloud accounting software to automate expense tracking, budgeting, and reconciliation. It also integrates with MasterCard, enabling businesses to use reloadable debit cards for expenses and gain real-time visibility into spending.
How does Penny Inc. integrate with other tools?
Penny Inc. integrates with popular cloud accounting software to automate expense tracking, budgeting, and reconciliation. It also integrates with MasterCard, enabling businesses to use reloadable debit cards for expenses and gain real-time visibility into spending.
We find that Penny Inc.'s main competitors include Corpay One, PEX, SutiExpense, Rho, Fyle, and CapitalOS. These alternatives offer similar expense management and payment solutions for businesses.
What the main competitors of Penny Inc.?
We find that Penny Inc.'s main competitors include Corpay One, PEX, SutiExpense, Rho, Fyle, and CapitalOS. These alternatives offer similar expense management and payment solutions for businesses.
Penny Inc. appears to be a legitimate company. They offer expense management and payment solutions and have a presence on review sites like G2, with an average rating of 3.5 out of 5. Their strong employee growth on LinkedIn also suggests ongoing operations.
Is Penny Inc. legit?
Penny Inc. appears to be a legitimate company. They offer expense management and payment solutions and have a presence on review sites like G2, with an average rating of 3.5 out of 5. Their strong employee growth on LinkedIn also suggests ongoing operations.
I am sorry, but we don't have pricing information available for Penny Inc. We recommend checking their website or contacting their sales team for details.
How much does Penny Inc. cost?
I am sorry, but we don't have pricing information available for Penny Inc. We recommend checking their website or contacting their sales team for details.
We find that user reviews on Penny Inc.'s customer service are mixed. Some users mention slow responses and unresolved issues, while others describe the support team as responsive, friendly, and accommodating.
Is Penny Inc. customer service good?
We find that user reviews on Penny Inc.'s customer service are mixed. Some users mention slow responses and unresolved issues, while others describe the support team as responsive, friendly, and accommodating.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.