Fiscal 2012 Highlights

• Grew year over year revenues by 11% and grew recurring revenues by 13%
• Adjusted EBITDA⁽¹⁾was $(0.9) million, as the Company continued investing in its VersaPay Solutions financial technology business
• Total processing volumes exceeded $1 billion
• Launched the electronic invoicing feature on its proprietary platform, creating a cloud-based electronic invoice presentment and payment solution for businesses
• Announced strategic marketing partnership with MasterCard International Incorporated to increase MasterCard volumes in the B2B market.

Q4 and Fiscal 2012 Financial Summary⁽²⁾

“We achieved a number of important milestones in 2012,” said Bill McGill, CEO of VersaPay. “Among other accomplishments, we renewed our processing agreement with Chase Paymentech, entered into a strategic marketing relationship with MasterCard International Incorporated and released critical features on our proprietary platform.” Mr. McGill continued, “Our … Read more

“We are very pleased to have Bluefin join our growing list of strategic partners,” said Bill McGill, CEO of VersaPay. “We look forward to working with Bluefin to offer their 15,000 merchants a comprehensive payment solution in the Canadian market that wasn’t previously available to them.”

VersaPay’s proprietary Electronic Money Transfer (EMT) platform allows businesses to move money from any bank account in Canada with a click. Businesses writing checks or using wire transfers can complete bulk transactions from their financial software or manually enter one-time transactions with VersaPay’s secure payment processing solutions.

“This partnership is directly in line with our products and features we currently offer our Bluefin customers”, said John M. Perry, CEO of Bluefin Payments Systems. “VersaPay’s proprietary EMT platforms will allow our Canadian customers who collect payments by checks and wire transfers to automate the process, saving them both time and money.”

Bluefin customers wanting to utilize EMT in Canada will now be able to integrate directly with their financial systems and move money without having to write a check. Business can accept one-time or recurring EMT payments directly from their customers’ bank accounts. They will be able to automate recurring billing, bill payments and payroll, increasing profits and saving time as well as ensuring that funds are deposited quicker and in a more secure manner.… Read more

Q3 2012 Highlights

• Grew year over year revenues by 7% and grew recurring revenues by 8%
• Adjusted EBITDA¹ was $(0.09) million, as the Company continued investment in its cloud based electronic invoice presentment and payment platform
• Launched the electronic invoicing feature on its proprietary platform, creating a cloud based electronic invoice presentment and payment solution for businesses.
• Announced, after the quarter, a strategic marketing partnership with MasterCard International Incorporated to increase MasterCard volumes in the B2B market.

“Our financial results in the third quarter of 2012 were driven primarily by our credit card processing business,” said Bill McGill, CEO of VersaPay. “We continue to invest in our proprietary platform to drive future growth, and while this investment has negatively … Read more

“We are excited to be partnering with one of the world’s most recognizable and respected payment brands” commented Bill McGill, CEO of VersaPay.  Mr. McGill continued, “We believe that this partnership will broaden the market for our unique cloud-based EIPP exchange in Canada and increase MasterCard acceptance among businesses accepting payments from other businesses.”

“As a technology company, we’re always on the look-out for cutting-edge partners that deliver innovative solutions for businesses. We look forward to working with VersaPay to grow acceptance across Canada,” said David E. Orzel, Senior Vice President Market Development, MasterCard Canada.

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses.  VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types require to accept and process electronic payments.

In addition, the Company’s proprietary Electronic Invoice Presentment and Payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY. More information about VersaPay can be found at www.versapay.com.

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com,… Read more

VersaPay CEO Bill McGill said, “We have enjoyed a strong partnership with Chase Paymentech since VersaPay’s inception and we are pleased to be extending our relationship for four more years.”

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses.  VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types to accept and process electronic payments.

In addition, the Company’s proprietary electronic invoice presentment and payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY.

More information about VersaPay can be found at www.versapay.com.

About Chase Paymentech

Chase Paymentech, a subsidiary of JPMorgan Chase (JPMC), is a leading provider of payment processing and merchant acquiring. The company’s proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as digital, alternative and mobile payment options.  Chase Paymentech has uniquely combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for companies large and small. In 2011, Chase Paymentech processed 24.4 billion transactions with a value of $553.7 billion, including an estimated half of all global Internet transactions. In addition to the ability to … Read more

Q2 2012 Highlights

        
        --  Grew year over year revenues by 12% and grew recurring revenues by 13%
        --  Adjusted EBITDA(1) was $(0.3) million, as the Company continued
            investment in its cloud based electronic invoice presentment and payment
            platform
        --  Launched VersaPay Payment Technology Solutions Inc., the Company's
            wholly subsidary operating in the United States
        --  Announced new partnership with Century Payments

Q2 2012 Financial Summary(2)

        
                                      ----------------------------------------------
                                         Three months ending       Six months ending
                                                     June 30                 June 30
                                      ----------------------------------------------
                                            2012        2011        2012        2011
        ----------------------------------------------------------------------------
        Recurring Revenues (3)        $     4.2M  $     3.7M  $     8.1M  $     6.9M
        ----------------------------------------------------------------------------
        Non-recurring revenue (4)     $    0.01M  $    0.05M  $    0.03M  $     0.1M
        ----------------------------------------------------------------------------
        TOTAL Revenue                 $     4.2M  $     3.8M  $     8.1M  $     7.1M
        ----------------------------------------------------------------------------
        Cash Operating Expenses (5)   $     1.2M  $     1.0M  $     2.2M  $     1.8M
        ----------------------------------------------------------------------------
        Adjusted EBITDA (1)           $   (0.3)M  $   (0.2)M  $   (0.5)M  $   (0.3)M
        ----------------------------------------------------------------------------
        Net loss                      $   (0.4)M  $   (0.3)M  $   (0.7)M  $   (0.6)M
        ----------------------------------------------------------------------------
                                               June 30, 2012
        ----------------------------------------------------
        Cash                                          $1.8 M
        ----------------------------------------------------

“We are very pleased with our financial and operational results for the second quarter of 2012. Our revenue growth in the quarter highlights the benefits of our recurring revenue business model,” said Bill McGill, … Read more

Bill McGill–Chief Executive Officer      

David Chan–Chief Financial Officer

Patrick MacDonald–President

Kevin Short– Chief Information Officer

Option Grants

The Company also announces the grant of incentive stock options to certain directors, officers, employees and consultants of the Company to purchase up to 845,000 common shares in the capital stock of the Company under its share option plan.  The options are exercisable at a price of $1.00 per share on or before June 15, 2017 (with the exception of 100,000 of the options which expire June 12, 2013), subject to the approval of the TSX Venture Exchange and applicable hold periods.

More information about VersaPay can be found at www.versapay.com.

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses.  VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types require to accept and process electronic payments.

In addition, the Company’s proprietary Electronic Invoice Presentment and Payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY.

Forward Looking and Other Cautionary Statements

This news release contains forward-looking statements and information that are based on the beliefs of management and reflect the Company’s current … Read more

About Century Payments
Century Payments, Inc. is a nationally recognized leader in the electronic payment processing industry, dedicated to developing the most progressive, dynamic programs to benefit merchants, partners and agents alike. Through white label alliance programs, Century is the fastest growing electronic payments company having boarded over 50,000 merchants in the last three years and processing close to $10 billion in annual volume. In 2011, Century entered into an elite group recognized on the Inc. 500 list as one of the top 20 fastest growing, privately owned businesses for two consecutive years. The company is headquartered in Frisco, Texas.

Visit www.centurypayments.com for more information.

About VersaPay
VersaPay is a financial technology company that delivers payment solutions for businesses. VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types require to accept and process electronic payments.

In addition, the Company’s proprietary Electronic Invoice Presentment and Payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY.

More information about VersaPay can be found at www.versapay.com… Read more

Mr. Whiton has over 20 years of electronic payments experience in various executive and general management roles in environments ranging from start-up to Fortune 500 companies.  Most recently, Mr. Whiton was co-founder of Capital Payments, a leading private equity backed merchant acquiror focused on the “Trusted Advisor” market.

“Todd’s understanding of the electronic transaction industry, leadership experience and extensive relationships make him the ideal choice to lead our EIPP business in the U.S.,” said Bill McGill, CEO of VersaPay.  Mr. McGill continued, “We see a significant opportunity to grow our EIPP business in both Canada and the US and we are very fortunate to have someone of Todd’s caliber on our team.”

“I am excited to join VersaPay to help lead the growth of this innovative and timely business solution,” added Mr. Whiton.  “VersaPay has built and will continue to build a great team and platform which will help revolutionize how businesses throughout North America invoice more efficiently and get paid faster. There are millions of businesses in the U.S. and Canada that stand to benefit greatly … Read more

Eleanor Chiu brings more than twenty years of financial and accounting expertise to the board of VersaPay. She has been the Chief Financial Officer of Trico Developments Corp. and Trico Homes since 1998. Prior to that, she was with Nova Corporation of Alberta from 1990 to 1998, reaching the position of Senior Financial Accountant. She has sat on the Board of Governors of Mount Royal University since 2011. Ms. Chiu has been a Chartered Accountant since 1990, and began her career at KPMG. She also holds a Bachelor of Commerce from the University of Calgary.

 
“We are very pleased to have someone of Eleanor’s caliber joining VersaPay’s board of directors”, said Jason Gurandiano, VersaPay’s Chairman. “In addition to the governance benefits that Eleanor brings to the Company, her understanding of the challenges that financial leaders face will be invaluable as we continue to develop our EIPP product.”

 
Ms. Chiu joins the existing board of directors of the Company, all of whom were re-elected at the Meeting. In addition, all resolutions that were put to shareholders passed (please see the Company’s information circular which was filed on … Read more