VersaPay http://www.versapay.com Simplify Payment Processing Thu, 16 Apr 2015 18:39:43 +0000 en-US hourly 1 VersaPay Announces Q4 and Fiscal 2014 Results http://www.versapay.com/press-releases/versapay-announces-q4-and-fiscal-2014-results/ http://www.versapay.com/press-releases/versapay-announces-q4-and-fiscal-2014-results/#comments Thu, 16 Apr 2015 18:37:03 +0000 http://www.versapay.com/?p=11356 Toronto, ON – April 15, 2015 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, reported fourth quarter (Q4) financial results for the three and twelve-month period ended December 31, 2014.

“We continue to focus our attention on rolling out our ARC™ solution offering and we are very pleased with our progress in this regard,” said Craig O’Neill, CEO of VersaPay. “We are confident ARC™ will become an industry leader in the business-to-business integrated payments space, providing businesses of all sizes with a cloud-based approach to managing accounts receivable with their customers. As a result, we expect ARC™ to become a larger percentage of our overall revenues compared to POS Merchant Services moving forward. In addition, we expect the recurring revenues from ARC™ will provide VersaPay with a more predictable cash flow stream and improved margins in the future.”

Financial Highlights:

• Total revenue for Q4 2014 increased by 4% to $1.2 million, compared to $1.1 million in Q4 2013, and increased by 7% to $5.2 million in FY 2014, compared to $4.8 million in FY 2013. The year-over-year improvement was driven primarily by growth in the Company’s transaction processing fees.

• POS Merchant Services revenue for FY 2014 increased by 5% to $4.7 million compared to $4.4 million in FY 2013.

• VersaPay Solutions revenue for FY 2014 increased by 28% to $0.5 million, compared to $0.4 million in FY 2013.

• Gross margin percentages for the … Read more

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VersaPay To Host Investor / Analyst Day http://www.versapay.com/press-releases/versapay-to-host-investor-analyst-day/ http://www.versapay.com/press-releases/versapay-to-host-investor-analyst-day/#comments Wed, 08 Apr 2015 19:34:23 +0000 http://www.versapay.com/?p=11337 Toronto, ON – Aprile 7, 2015 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that it will be hosting a presentation for investors and analysts on Tuesday May 5th, 2015 at the TMX Gallery, The Exchange Tower, 130 King Street West, Toronto. The event will feature presentations from two of VersaPay’s ARC™ customers on their experience rolling out the product, perspectives from two partners on the ARC™ market opportunity, and a report from VersaPay’s CEO Craig O’Neill on the success of the pilot phase of ARC™, plans for the next phase of ARC’s commercialization, and what it all means for the Company’s growth strategy. Registration opens at 7:45 am and the presentation commences at 8:30 am.

We are very pleased with the pace of adoption for ARC™, and particularly excited that our early customers are making themselves available to talk about the success they are experiencing with the product. The combination of customer stories, partner insights and a summary of what we have learned through the pilot phase of ARC™ will make this a very interesting and informative event for investors and analysts,” stated Craig O’Neill, VersaPay’s CEO.

Investors and analysts interested in attending can confirm their attendance by emailing MailGuard('jelena.radecki','versapay.com') or calling (647) 258-9379.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC™ software-as-a-service offering allows businesses to easily Read more

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Technical Sales International (TSI) Chooses VersaPay ARC http://www.versapay.com/press-releases/technical-sales-international-tsi-chooses-versapay-arc/ http://www.versapay.com/press-releases/technical-sales-international-tsi-chooses-versapay-arc/#comments Tue, 16 Dec 2014 14:20:18 +0000 http://www.versapay.com/?p=11230 Toronto, ON – December 16, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that Technical Sales International (TSI) has selected VersaPay’s ARC platform to automate their accounts receivable process. California-based TSI is a leading provider of building information management solutions (BIM) for mechanical, electrical, and plumbing (MEP) contractors and engineers. ARC is VersaPay’s cloud-based e-commerce platform that enables suppliers to publish invoices on-line, collaborate with their customers, and securely accept electronic payments.

Tammy Ford, Chief Financial Officer, TSI stated: “We have been looking for a solution that enables us to provide a more seamless and enhanced transaction experience for our customers, and ARC offers just that. Additionally, the ARC solution allows us to receive payments faster while reducing costs and eliminating manual processes. Best of all, our customers will also benefit from administrative efficiencies and cost savings, while retaining complete control over their payables process. Our customers prefer the new approach because they can resolve questions faster and reduce administrative time required to manage and pay invoices.”

“We are making a concerted effort to expand our ARC business in the U.S.” commented Craig O’Neill, VersaPay’s CEO. “Earning TSI’s business demonstrates that our efforts in the U.S. are paying off, and we plan to announce other U.S. based customer wins in the near future.”

About Technical Sales International (TSI)

TSI provides mechanical, electrical and plumbing (MEP) contractors and engineers around the world with … Read more

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The Beer Store Selects VersaPay http://www.versapay.com/press-releases/the-beer-store-selects-versapay/ http://www.versapay.com/press-releases/the-beer-store-selects-versapay/#comments Wed, 03 Dec 2014 21:42:29 +0000 http://www.versapay.com/?p=11119 Toronto, ON – December 1, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that The Beer Store, a Molson / Labatts joint-venture company, has gone live on VersaPay’s ARCPay platform to increase payment acceptance. This represents one of VersaPay’s largest customer acquisitions to-date.

“We are excited to announce that The Beer Store has selected VersaPay to support its initiative to increase electronic payments from its business customers,” commented Craig O’Neill, VersaPay’s CEO. “The distribution industry is an attractive market for us and The Beer Store provides a strong case study for the value proposition VersaPay offers to distributors.”

Additionally, Brewers Distributor Ltd. (BDL) – the sister distribution company of The Beer Store in Western Canada, has renewed its service contract with VersaPay. BDL has been one of the longest standing customers of VersaPay.

About The Beer Store

Founded in 1927, The Beer Store is the trading name for Brewers Retail – a joint-venture between Molson-Coors Brewing Company and the Labatt arm of Anheuser-Busch InBev of Belgium. With over 441 retail stores in Ontario, it is the largest distributor of domestic beer to over 16,000 Ontario licensees.

About Brewers Distributor

Brewers Distributor Ltd (BDL) is a private joint venture company owned by Labatt Breweries of Canada and Molson Breweries for the wholesale distribution of beer and the collection of returnable, refillable and recyclable beer containers within the four Western Canadian Provinces, as well … Read more

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VersaPay Reports Q3 2014 Results, Achieves Record Transaction Volumes http://www.versapay.com/press-releases/versapay-reports-q3-2014-results-achieves-record-transaction-volumes/ http://www.versapay.com/press-releases/versapay-reports-q3-2014-results-achieves-record-transaction-volumes/#comments Wed, 03 Dec 2014 21:39:07 +0000 http://www.versapay.com/?p=11110 Toronto, ON – November 28, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receiv­able management and payment solutions, is pleased to report financial results for the third quarter of 2014. Revenue for Q3 2014 grew to $5.1 million from $4.8 million in Q3 2013. Revenue growth occurred across both of the Company’s operating units, the VersaPay Solutions business and the POS Merchant Services business, as a result of accrued synergies.

Q3 2014 Highlights:

  • Continued investment in VersaPay Solutions, including an expansion of the R&D, support and sales teams in the VersaPay Solutions business during Q3 2014
  • Commenced a number of ARC™ customer projects, including a major pilot that will involve approximately 1,000 connected parties
  • Solutions revenues grew by over 35%
  • Teachers Life, a leading insurance provider for teachers throughout Ontario, went live on ARC™
  • Grew total credit card processing volume to $253 million for Q3 2014 versus $237 million in Q3 2013, representing a record quarter
  • Early repayment of all of the outstanding December 2010 secured subordinated promissory notes
  • Art Mesher appointed chairman of VersaPay’s board of directors, effective August 20, 2014

Subsequent to Q3 2014 Highlights:

  • Experienced marketing executive, John McLeod joined VersaPay as Head of Marketing after 8 years with Desire2Learn Incorporated, a global software-as-a-service (SaaS)-based learning solutions provider.

 

Q3 2014 Financial Summary1

Screen Shot 2014-12-03 at 4.30.21 PM

Notes:

1   The unaudited condensed interim consolidated financial statements for the three and nine months ended September 30, 2014 and

the related Management’s Discussion … Read more

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VersaPay Sets Its Third Quarter 2014 Conference Call for Monday, December 1st, 2014 at 11:00 a.m. EST http://www.versapay.com/press-releases/versapay-sets-its-third-quarter-2014-conference-call-for-monday-december-1st-2014-at-1100-a-m-est/ http://www.versapay.com/press-releases/versapay-sets-its-third-quarter-2014-conference-call-for-monday-december-1st-2014-at-1100-a-m-est/#comments Wed, 26 Nov 2014 17:02:37 +0000 http://www.versapay.com/?p=11095 TORONTO, ONTARIO- VersaPay Corporation (TSX VENTURE:VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, will conduct a conference call on Monday, December 1, 2014 at 11:00am EST to discuss its financial results for the third quarter ended September 30, 2014. The financial results are expected to be issued in a press release prior to the call.

VersaPay management will host the conference call, followed by a question and answer period.

Date: Monday, December 1st 2014.

Time: 11:00 a.m. Eastern time

To participate in Question and Answer Period please join the Webinar:

Please register for VersaPay Corp Earnings Call (Q3 2014) on Dec 1, 2014 11:00 AM EST at:

https://attendee.gotowebinar.com/register/171460404971877122

After registering, you will receive a confirmation email containing information about joining the webinar.

OR

http://gotowebinar.com, click join webinar and enter Webinar ID: 135-407-363

Audio:

Participants can use their computer’s microphone and speakers (VoIP) or telephone.

Canada
Toll-free: 1 888 455 1368
Toll: +1 (647) 497-9369
Access Code: 740-520-628

If you have any difficulty connecting with the conference call, please contact Laura Fifield at (647) 258-9403

 

UPDATE: You can access the recording below (Please note the Cautionary Note below prior to opening):

Cautionary Note Regarding Forward-Looking Information:

Certain information to be discussed during this corporate update contains forward-looking statements within the meaning of applicable securities laws including, among others, statements concerning the Company’s 2014 objectives, the Company’s strategies to achieve those objectives, as well as statements with respect to Management’s … Read more

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The Terry Fox Foundation Expands Mobile Payment Coverage With VersaPay http://www.versapay.com/press-releases/the-terry-fox-foundation-expands-mobile-payment-coverage-with-versapay/ http://www.versapay.com/press-releases/the-terry-fox-foundation-expands-mobile-payment-coverage-with-versapay/#comments Thu, 13 Nov 2014 16:45:05 +0000 http://www.versapay.com/?p=11074 Toronto, ON – November 6, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, and The Terry Fox Foundation of Canada, one of Canada’s most well known and respected charities, are excited to continue the growth of their long term relationship. VersaPay manages all of The Terry Fox Foundation’s payment processing and online donations for the Foundation’s charity runs across Canada, and deployed a record number of mobile devices to support the 2014 runs.

“Working with the team at VersaPay has been a great fit for The Terry Fox Foundation. We are pleased to have developed a long term relationship with VersaPay and continue to utilize their services for online donation processing,” commented Amy Brosinski, Financial Controller of The Terry Fox Foundation. “In addition to their online processing, VersaPay helped us deploy more payments devices for the 2014 run sites than in any previous runs to date.”

“We are very proud to support the important work of The Terry Fox Foundation,” commented VersaPay’s Chief Executive Officer Craig O’Neill. “This relationship is a testament to the quality of our services and the dedication of our people.”

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC and ARCPay software-as-a-service offerings allow businesses to easily deliver customized electronic invoices to their customers, to accept credit card or EFT payments and automatically reconcile payments to their ERP and accounting software.

VersaPay … Read more

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VersaPay Adds Experienced Marketing Leader to Executive Team http://www.versapay.com/press-releases/versapay-adds-experienced-marketing-leader-to-executive-team/ http://www.versapay.com/press-releases/versapay-adds-experienced-marketing-leader-to-executive-team/#comments Wed, 15 Oct 2014 15:13:24 +0000 http://www.versapay.com/?p=11064 Toronto, ON – October 15, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that John McLeod has joined the Company as Vice President, Marketing, bringing his extensive marketing skills and executive experience from a variety of technology companies. Mr. McLeod joins VersaPay after 8 years with Desire2Learn Incorporated, a global SaaS-based learning solutions provider. As Vice President, Marketing, he was instrumental in the company’s growth from 35 to nearly 900 employees, serving more than 13 million learners around the globe.

“John brings the marketing know-how and leadership we need to raise brand awareness for VersaPay and more importantly, ARC, our cloud-based solution that automates Accounts Receivable,” commented Craig O’Neill, VersaPay’s Chief Executive Officer. “Since I joined VersaPay a year ago, I have been building a management team with the skills and experience needed to support our growth plans. John’s arrival rounds out that team, and comes at an ideal time as we experience growing demand from customers and partners for our ARC platform.”

 

In addition to Mr. McLeod, VersaPay’s management team includes:

Craig O’Neill – Chief Executive Officer and Director. Prior to VersaPay, was the co-founder and CEO of Xeye and the driving force behind its flagship WealthManager product.

David Chan – Chief Financial Officer and Corporate Secretary. A Chartered Accountant, previously worked at Ernst & Young.

Patrick MacDonald – President, POS Group. Prior to VersaPay, worked with one of Canada’s … Read more

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VersaPay Retires Outstanding Debt http://www.versapay.com/press-releases/versapay-retires-outstanding-debt/ http://www.versapay.com/press-releases/versapay-retires-outstanding-debt/#comments Thu, 25 Sep 2014 14:02:22 +0000 http://www.versapay.com/?p=11057 Toronto, ON – September 25, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, announces that it has completed the early repayment of all of the outstanding December 2010 secured subordinated promissory notes. The total outstanding amount of the notes was $900,000.

“I am pleased that we are able to repay the promissory notes fifteen months early. In doing so, we are now debt-free, while still having a healthy balance sheet to execute on our growth plans”, said David Chan, VersaPay’s Chief Financial Officer.

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s Arc and ArcPay software-as-a-service offerings allow businesses to easily deliver customized electronic invoices to their customers, to accept credit card or EFT payments and automatically reconcile payments to their ERP and accounting software.

VersaPay’s is headquartered in Toronto, Canada, and has operations in Montreal and New York.

For additional information about this news release, please contact:

David C.W. Chan, Chief Financial Officer, VersaPay Corporation

Telephone: (647) 258-9475   Email: MailGuard('david.chan','versapay.com')

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

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 expectations. When used in this news release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations … Read more

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Teachers Life Becomes VersaPay ARC Customer http://www.versapay.com/press-releases/teachers-life-becomes-versapay-arc-customer/ http://www.versapay.com/press-releases/teachers-life-becomes-versapay-arc-customer/#comments Tue, 23 Sep 2014 18:15:21 +0000 http://www.versapay.com/?p=11046 Toronto, ON – September 23, 2014 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that Teachers Life, the foremost insurance provider for teachers throughout Ontario, has become a VersaPay ARC customer. ARC is VersaPay’s cloud-based eCommerce platform that enables suppliers to collaborate with their customers, publish invoices online and securely accept electronic payments.

“We are very pleased to have our first ARC insurance customer in Teachers Life,” commented Craig O’Neill, VersaPay’s CEO. “We, along with our partners, have targeted the financial industry as one of the key verticals where we can drive significant value with the unique capabilities of ARC.”

Doug Baker, President and CEO of Teachers Life, said “We are delighted to have found a Canadian company that understands our needs and created a solution that not only provides our Members with quality service but confidence in the security of their information.”

VersaPay’s ARC solution for Teachers Life will be highlighted at the upcoming Management Data’s FIMMAS User Group Meeting on September 24th in New Orleans. Mislav Majic, VersaPay’s Vice President of Sales, along with representatives of Teachers Life, will be speaking at the conference about PCI compliance as it relates to the ARC software and the insurance industry.

“Presenting at Management Data’s conference will provide exposure for our ARC solution to some of the biggest insurance companies in North America. We are honoured that Teachers Life has included us and look … Read more

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