PROFIT Business Bank

PROFIT Business Bank, now known as Profit by Paymentus, is a financial technology company that provides an integrated financial management platform designed for small businesses. It is not a bank itself; instead, its banking services are provided through a partnership with Evolve Bank & Trust, Member FDIC. Profit is a division of Paymentus (NYSE:PAY), a large, publicly traded payment technology company.

The company's mission is to help make businesses more profitable by streamlining their financial operations. The all-in-one platform combines several key financial tools into a single, web-based interface accessible via browser or mobile apps for Apple and Android. Core services include business checking accounts, prepaid physical and virtual expense cards with real-time spend controls, and payment processing for credit and debit cards. The platform also features tools for creating and sending payable invoices to facilitate faster payments, automated bookkeeping, and bill payment management with automated approval workflows. This integration provides businesses with a real-time, unified view of their cash flow.

The business model is centered on providing a comprehensive suite of financial tools that save businesses time and money. Clients can fund their accounts via ACH or wire transfer. Revenue is likely generated through payment processing fees, which are offered at a discount to clients who also use Profit's debit cards for their expenses, and potentially other service fees. The platform is built with a focus on security, offering FDIC insurance coverage and 24/7 transaction monitoring.

Keywords: small business finance, financial technology, expense management, payment processing, online invoicing, business banking, prepaid business cards, spend management, automated bookkeeping, cash flow management, bill pay solutions, financial operations, fintech platform, Evolve Bank & Trust, Paymentus