Chase has integrated its payroll service directly into the Chase Business Online platform. This new offering allows business owners to manage payroll, tax filings, and employee payments alongside their existing banking and payment activities.
The service is powered by Gusto, a payroll technology firm that has partnered with Chase since 2023. The integration aims to provide business owners with increased flexibility, including the option for next-day processing.
Internal research from Chase indicates that 89% of business owners prefer managing payroll through their primary banking platform. Additionally, 37% of surveyed owners reported that meeting payroll obligations created cash flow pressure over the previous six months.
Data from PYMNTS Intelligence highlights that payroll needs are a primary driver for the adoption of instant payments among small and medium-sized businesses. For 27% of high-urgency firms, wage payments represent the most critical factor for immediate financial transactions.
Market trends suggest a growing demand for embedded finance, with 61% of businesses that currently lack payroll features expressing an intention to implement them. This move by Chase aligns with the broader industry shift toward consolidating financial management tools.
