Passion banks $13M to use companies a ‘develop your own’ payroll item infrastructure

by RJ Shara | Aug 27, 2021 | Startups

Enterprises use Passion to pay big volumes of workers and keep payment information by themselves native systems. To ensure other companies didn’t run into the exact same issue, they chose to build a payroll API that enables their consumers to construct their own payroll items, even being able to pay their employees everyday. Generally, companies would layer together old third-party payroll tools and invest millions of dollars on consulting charges. Shenoy mentioned Internal Revenue Service data that showed more than 40% of small and medium organizations pay at least one payroll penalty per year. Whereas the default was a business like ADP, companies will want to control their own information and construct products so their consumers can do whatever payroll-related from one platform. …