Mercury has introduced its own product named Mercury Payroll that incorporates payroll services right into its financial management experience. This tech firm offers banking services to over 450,000 clients. Its new solution assists entrepreneurs in making payroll payments to employees and contractors from their Mercury accounts. Moreover, enterprises will be able to organize employee benefits and payroll compliance on one interface. Mercury Command is an AI assistant developed by Mercury.
“Hiring your first employee is one of the biggest moments in building a company, but what comes immediately after, like setting up payroll, taxes, benefits, and compliance is far more complicated than it needs to be,” said Immad Akhund, co-founder and CEO of Mercury. “In 2026 with AI we can make what was toil for entrepreneurs as easy as a quick chat. We’re launching Mercury Payroll so paying your team can feel as simple as moving money in Mercury.”
Bringing Payroll Into Business Banking
Payroll is among the most significant regular expenses that companies incur. Nevertheless, the payroll process has historically been managed independently of the main business accounts. This has forced founders to work with other vendors, banking services, tax registration, and reconciliation.
Mercury Payroll integrates all these processes, allowing founders to manage employee hiring and payroll payments seamlessly. In addition, the platform integrates Mercury’s banking, cards, spend management, invoicing, bill payment, accounting, and artificial intelligence-based solutions. Using Mercury Command, founders can examine the financial data of their companies and perform actions by issuing natural language commands.
Key Features of Mercury Payroll
Mercury Payroll offers several features that simplify payroll processes.
Fast Setup: Current clients can set up the first payroll process in less than 15 minutes using the existing company information. Employee Onboarding: New employees may complete their tax forms and provide offer details for direct deposit, which makes the process easier.
Employee and Independent Contractor Pay: Companies will be able to handle W-2 payroll for employees, pay U.S. based independent contractors 1099s, and make other payments such as bonuses directly from the platform.
AI Automation: Mercury Command automates various processes related to payroll, such as salary changes, calculating overtime pay, making reimbursements, handling employee deductions, making earning changes, and providing bonuses.
Taxes and Compliance: Payroll tax filings and payments at both federal and state levels will be handled via this platform. It can help prepare W-2s and 1099s for year-end, handle unemployment, deal with correspondence from state agencies, and register businesses in all 50 states.
Employee Benefits: Companies can offer health insurance and a 401 (k) plan via Human Interest or self-managed ways, along with other benefits like HSA, FSA, ICHRA, and commuting plans.
Supporting Growing Businesses
Mercury hopes that by utilizing payroll, banking, compliance, and automation, the company will lower administrative work. The founders can handle the payment of the workers and other financial processes on a single platform. In essence, the Mercury company wishes to ensure that businesses will spend less time dealing with payroll and more on business growth.
Explore HR Tech News for the latest advancements in Human Resources Technologies and insightful updates from industry experts!
News Source: Businesswire.com
