JPMorgan Chase Teams Up with Gusto to Offer Online Payroll, Stepping Up Fight Against Fintech Rivals

JPMorgan Chase is partnering with fintech startup Gusto to offer online payroll services, aiming to appeal to small business customers.
The move steps up JPMorgan's fight for customers against fintech players like PayPal and Square which also offer payroll.
Gusto's payroll platform will handle paycheck disbursement, tax documents, government filings for JPMorgan's 5M small biz customers.
JPMorgan has invested heavily in new tech and features to compete with fintechs encroaching on traditional banking.
The new payroll feature launching by end of 2024, enabling integrated banking and payroll for JPMorgan's 200K+ payments solutions users.

cnbc.com

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