January 30, 2009

VersaPay signs fastest growing POS provider to exclusive partnership

In an economy where businesses are faced with rising credit and debit cards costs alongside guarded consumer spending, solutions enabling business owners to focus on increased business growth will no doubt be met with optimism.

Vancouver-based VersaPay, the true ‘one-stop shop’ for Canadian payment processing services and merchant accounts, announced today its partnership with H&L Canada Ltd., the fastest growing point-of-sale solution provider in the hospitality industry. As part of the exclusive 5-year partnership, VersaPay will provide its VersaOne Retail Management Suite with H&L’s Integrated Touch Screen terminals as a complete package. Bundled with financial transaction products and real-time reporting, the all-in-one system will increase efficiencies in merchant operations while helping to deliver better top line results.

“As founding partners of the Canadian Acquirers Association, our mandate since VersaPay’s inception has been to lower the cost of accepting credit and debit cards,” says VersaPay’s Chief Executive Officer Michael Gokturk. “In a time where consumers are being more cautious about their spending, the products and services we offer need to be even more ahead of the curve than usual. Businesses now, more than ever, are turning to VersaPay to completely integrate their financial supply chain — a service that banks cannot readily offer.”

Aimed at driving operational excellence through supply chain management, VersaOne’s advanced features will enable retailers to automate payment and ordering capabilities directly within their POS systems. Manual inventory reviews and orders will now be replaced by simplified tally ordering, with orders and business-to-business payments posted through VersaPay’s proprietary VersaEFT or VersaCard platforms automatically.

“H&L has always believed in exceeding the changing requirements of our customers and their respective industries,” says Burt Admiraal, H&L Founder and Director of Business Development. “Our partnership with VersaPay will allow this next generation of merchant solutions to help fuel business prosperity while keeping costs low.”

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About H&L Canada Ltd.

The H&L group of companies was originally formed in South Australia in 1985, based on a real need by the hospitality industry for fully integrated products that could manage Stock Control and Point of Sale (POS) management. H&L’s differentiator in product development is specialization in an industry that all of their key people having worked and consulted in for many years, thereby providing a complete solution of hardware, software, training, installation and 24/7 ongoing support.

For more information about H&L Canada Ltd. and their full line of point-of-sale solutions, visit www.powerofpos.com.

About VersaPay

VersaPay is a 100% Canadian and independently-owned payment processor, handling all elements of both credit and debit card merchant and online payment processing. A host of merchant account services, the highest-quality point of sale terminals, and proprietary financial technology solutions such as VersaEFT and the VersaCard, are offered to businesses of any size or industry. VersaPay makes “one stop” merchant payment services a reality for its clients, with an increase to VersaPay’s clients’ bottom line guaranteed.

To learn more about VersaPay’s selection of credit, debit, enterprise and online solutions, visit http://www.versapay.com.

For more information contact Michael Gokturk, Chief Executive Officer of VersaPay Corporation
T: (604) 909-9850 | F: (604) 678-3538