Toss Introduces 'Send Payslip' Service for Self-Employed Business Owners

[Asia Economy Reporter Kiho Sung] Toss announced on the 25th that it will add a payroll statement issuance feature to the ‘Sajangnim’ menu, a financial service for self-employed business owners. Business owners operating workplaces with fewer than five employees can use the service for free.

The ‘Sajangnim’ service, a store ledger management feature for self-employed business owners, was first introduced in November last year. It provides functions necessary for store operation such as ▲store ledger management ▲increasing delivery sales ▲finding hidden card sales. Within three months of its launch, 70,000 users signed up for the service, and as of November, about 400,000 people are using the ‘Sajangnim’ service.

The newly added ‘Send Payroll Statement’ feature was prepared in accordance with the revised Labor Standards Act, which took effect on the 19th of this month. According to the amendment, business owners are required to provide employees with a payroll statement on the wage payment date. Violations will result in a fine of up to 5 million KRW for the business owner.

An Ji-young, Product Owner at Toss, said, “Seventy percent of self-employed customers using the Sajangnim service were unaware of the revised payroll statement issuance obligation and had difficulties preparing the statements. We hope that by making it easy to prepare and deliver payroll statements, we can provide more practical help in managing their stores.”

Toss’s ‘Send Payroll Statement’ allows users to input payment items such as monthly salary, meal allowances, and bonuses, and by entering employment and health insurance premium items issued monthly by the National Health Insurance Service, payroll statements with automatically calculated income tax and local income tax can be sent to each employee.

Meanwhile, Toss plans to expand the target starting with business owners operating workplaces with fewer than five employees. They also plan to add payroll statements for weekly and daily wage employees in addition to monthly salaried employees, as well as services for workplaces with more than five employees.

This content was produced with the assistance of AI translation services.