Intuit Goes Live On VersaPay ARC to Automate Its Invoice-to-Cash Process

February, 15, 2017

San Diego, CA ; Toronto, ON – February 15, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Intuit Inc. has implemented VersaPay ARC™ for select small business and accountant customers. The service allows the company’s customers that primarily pay Intuit on a net term basis to use a self-serve portal and pay online 24/7. This improves Intuit’s collection tools and gives them the flexibility to better manage their invoice to cash cycle. “One of our strategic initiatives was to create a better collaboration and payment experience for thousands of our small business and accountant customers,” stated Scott Beth, vice president of finance operations...

VersaPay Announces Closing of Sale of Merchant Services Business

February, 2, 2017

TORONTO, Feb. 1, 2017 – 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 the completion of the previously announced sale of all of the assets and property related to the Company’s Merchant Services business (the “Transaction”) to BluePay Canada, ULC (“BluePay”). In connection with closing of the Transaction, VersaPay has received $10,000,000 in cash, of which $500,000 has been placed in an escrow account for 12 months to cover potential purchase price adjustments and other potential liabilities for which BluePay is indemnified. An additional $1,000,000 will be payable to VersaPay 12 months following closing of the Transaction, conditional upon achievement of 5% growth in...

Transport Logistics Goes Live On VersaPay ARC™

January, 18, 2017

  Oak Creek, WI ; Toronto, ON – January 18, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Transport Logistics is now live on VersaPay ARC™ automating their invoice to cash cycle. “We are constantly looking to enhance our operations in an effort to be more efficient and to improve our customers’ experience,” stated Keli Backes, Executive Vice President, Transport Logistics. “Using the VersaPay platform enables our customers to retrieve their proofs of delivery, which allows us to be much more effective at scaling our operational capacity without adding headcount.” “As we continue to acquire forward thinking customers like Transport Logistics, we see...

VersaPay Receives Shareholder Approval for Sale of Merchant Services Business

January, 10, 2017

TORONTO, Jan. 10, 2017 /CNW/ – 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 previously announced sale of its Merchant Services portfolio to BluePay Canada, ULC (“BluePay”) (the “Transaction”) has been approved by the holders of common shares of VersaPay (“Shareholders”). Shareholders approved the Transaction at the Special Meeting of Shareholders on January 10, 2017, with 99.53% voting in favour, well surpassing the 66.67% necessary to approve the Transaction. The Company has also received conditional approval from the TSX Venture Exchange for the Transaction. “We would like to thank our shareholders for their support in backing the company’s strategy to pursue the...

Ricoh, Built On Paper, Cultivates A Digital Presence in B2B Payments

January, 9, 2017

Like other corporations in its field, Ricoh made a name for itself over the decades helping corporations manage the mounds of paperwork they produce and manage. For Ricoh, that meant developing printers, copiers and, later, scanners to digitize some of those documents. According to Laura McGowan, director of services marketing at Ricoh Canada, the company has had to pivot its outlook on paper as companies digitize processes like invoicing and accounts receivable. “It’s almost ironic: At Ricoh, we’ve been proponents in creating, or assisting in the creation through our copier and printer business over the years, of paper,” she recently told PYMNTS. “So, what the reset for Ricoh is is: How can we help, using the hardware that we already...

Ricoh Canada Launches e-Invoice Presentment & Payment Service

January, 3, 2017

TORONTO , Jan. 3, 2017 /CNW/ – Ricoh Canada Inc. today announced the release of their e-Invoice Presentment & Payment Service – a powerful new solution designed to help customers rapidly gain new efficiencies through the delivery of digital bills and invoices to their customers and suppliers. Through the e-Invoice Presentment & Payment Service, customers are able to leverage Ricoh’s expertise in Business Process Outsourcing, Business Information scanning centers and strategic partnerships to create a customized e-solution that integrates to their existing AP and AR processes. A comprehensive mapping of their complete internal process means customers can transition easily from print through e-presentment and payment, achieving real and ongoing savings along the way. Common challenges such as resending misplaced or...

VersaPay’s Accounts Receivable Automation Solution Chosen by ic! berlin

December, 13, 2016

Toronto, ON – December 13, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that it has been selected by ic! berlin to provide ARCTM its cloud based invoicing and accounts receivable automation platform. “ic! berlin was founded on the value that innovation can bring to an established market like designing and manufacturing glasses and sunglasses. Along that same vein we are introducing innovative new approaches to our financial operations and enhancing our customers’ experience by integrating the VersaPay solution with our SAP implementation,” noted Tanja Weindling, the GM for ic! berlin US Operations. “VersaPay ARC enables us to offer self-service and collaborate more...

Ricoh Canada and VersaPay Announce Strategic Relationship to Deliver Integrated Invoicing and Accounts Receivable Solution

December, 6, 2016

 Toronto, ON – December 6, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced a strategic relationship with Ricoh Canada. As part of the agreement Ricoh will be marketing VersaPay ARCTM to their customer base extending the breadth and depth of Ricoh’s digital solution portfolio. “Our focus at Ricoh is to continue to enhance the customer experience with the services we offer. VersaPay’s AR solution allows us to offer a wide range of invoicing and payment options, making it easier for our customers to automate their accounts receivable processes and better collaborate with their end customers,” commented Richard Perri, SVP of Services & CFO,...

VersaPay Announces Q3 2016 Financial Results

November, 29, 2016

TORONTO-Nov. 29, 2016 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receiv­able management and payment solutions, today announced the Company’s third quarter (Q3) financial results for the three-month period ended September 30, 2016. “We are very pleased with the growth in both our Software and Merchant Services businesses,” said Craig O’Neill, CEO of VersaPay. “In particular, our software revenues grew by more than 72% as suppliers and their customers come online and increase their use of the ARCÔ platform. Notably, as customers become accustomed to transacting online we are seeing the volume of payments processed on ARC™ rise rapidly, with $21.3 million in payments made in the quarter, a 50% increase in total payments...