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Pay Sauce PaySauce processes over 50 % more payroll Lower Hutt , New Zealand - 8 July 2021 Employment fintech PaySauce ( NZX : PYS ) finished the first quarter of FY22 with accelerated customer and revenue growth . PaySauce acquired the business and assets of Smooth Pay during the quarter . PaySauce is in the process of transitioning the accounting policies and reporting metrics of Smooth Pay to ensure consistency with those reported by PaySauce . PaySauce will include the business metrics of the Smooth Pay business in the PaySauce quarterly update in September . None of the metrics in this update include any of the business operations of Smooth Pay . Processing fees from customers grew 44 % YoY , up from the 42 % YoY increase in the quarter to March . The growth in processing fees has arisen from both a 39 % increase in customer numbers and a 51 % YoY increase in the value of payroll processed through the PaySauce platform compared to the quarter to June 2020 . Total recurring revenue for the June 2021 quarter increased 36 % YoY . This measure includes both processing fees and interest income . The continued low interest rate environment has caused interest income to decline 33 % YoY . At $ 31k , interest revenue was just 5 % of the total Recurring Revenue this quarter ( June 2020 Quarter : 10 % ; $ 46k ) despite the float of funds held on behalf of customers increasing in line with customer growth . The number of employees paid through the PaySauce platform increased 44 % YoY to over 20,000 . CEO and co - founder Asantha Wijeyeratne , said the growth in employees demonstrates the evolution from an agri - focused payroll provider to an industry agnostic fintech . " More and more larger employers are coming to PaySauce to help them run the people - side of their business . Businesses in the construction and hospitality sectors in particular are seeing the value of staff entering their timesheets on their app and payments being automated when the pay run closes . By making it easy , we free them up to spend their time where it matters - running their business . " " For me , the most pleasing element is seeing 20,000 employees on our platform . Having introduced PayNow this quarter , knowing that those employees can access their earned wages before payday with no costs means we can make a real difference to those currently using predatory payday lenders . "