VersaPay Closes $4 Million Credit Facility with National Bank

November, 5, 2019

Toronto, ON – November 5, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce the closing of a credit facility with National Bank of Canada’s Technology and Innovation Banking Group (“NBC”). The facility consists of a $4.0 million revolving credit facility (the “Facility”) which matures in April 2021, extendable thereafter. “I’m pleased we’ve been able to put this facility in place with a great partner like NBC,” said Craig O’Neill, Chief Executive Officer. “Its an efficient way to optimize our working capital and a testament to the growth we’ve achieved in our recurring revenues from ARC.”...

VersaPay Signs Agreement With Samtec To Provide Customer-Centric AR Solution

October, 30, 2019

New Albany, IN ; Toronto, ON – October 30, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has signed an agreement with Samtec, a large U.S. electronics manufacturer and distributer, to provide VersaPay ARCÒ. With revenues approaching $1 Billion, Samtec was looking to enhance its receivables process, and improve the payment experience for customers, including self-service functionality. The winning platform had to automate collections and eliminate manually driven processes, significantly reduce aged receivables and enable a proactive approach for managing the invoice-to-cash process. As a result of an exhaustive evaluation process, Samtec selected...

VersaPay Signs Global Manufacturer and Distributor of Beverages and Snack Foods

October, 24, 2019

Toronto, ON – October 24, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that a global manufacturer and distributor of beverages and snack foods (the “Client”) has selected ARC to automate its invoice-to-cash process. The Client’s main goal for an AR Automation solution was to improve their customers’ experience, recognizing that their current process for billing and collecting payments did not reflect the leading edge products and services it offers. A secondary goal was to gain process efficiencies in collections and cash application. The Client selected VersaPay ARC for its best-in-class customer experience and for...

VersaPay Signs Supply Chain Company

October, 16, 2019

Toronto, ON – October 16, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has signed a North American supply chain solutions provider (the “Client”) with more than 500 operating locations and 60,000 carriers. The Client recently acquired a company that has been using VersaPay ARCÒ for more than two years, and their experience has been so positive that they recommended the solution to their new parent. After reviewing the results their newly acquired division had achieved with ARC, the Client elected to implement the solution across its entire business, providing a great self-serve...

VersaPay Selected by IT Services Company to Provide AR Solution

October, 9, 2019

Toronto, ON – October 9, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has been selected by an IT services provider within the financial services sector (the “Client”) to implement ARCâ. Facing scalability challenges common to a growing business, the Client sought an AR Automation solution that would provide their customers with an easy way to view invoices and pay them electronically. With customers around the globe, the Client needed the platform to be secure and GDPR compliant. VersaPay was selected becaue of its customer-centric focus, providing an online self-service experience for customers...

VersaPay Adds Another Large US Distribution Company to Growing Client List

October, 1, 2019

Toronto, ON – October 1, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has been selected by another large US distributor (the “Client”) to implement VersaPay ARC to transform their invoice-to-cash process. The Client, a distributor of heating, air conditioning, refrigeration equipment and supplies continually seeks to provide their customers and contractors unsurpassed customer service and support. Recognizing billing and payment as important parts of the overall customer experience, they decided to substantially improve their accounts receivable and collections processes. VersaPay ARC was selected for its ability to make billing and payment easy...

VersaPay Shares The Podium With Customers And Partners At Investor Forum

September, 25, 2019

Toronto, ON – September 25, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it presented to a capacity audience at its Investor Forum held yesterday in Toronto. The Forum was attended by a range of enthusiastic participants. Presentations were delivered by VersaPay partners, clients and company CEO Craig O’Neill. During his presentation Mr. O’Neill announced that VersaPay had just signed a new partnership agreement with US Bank. The deal leverages the respective strengths of the two companies to offer AR automation to US Bank’s commercial real estate customer portfolio. Additionally, there were four key...

VersaPay to Present at MasterCard Commercial Customer Event

September, 16, 2019

New York, NY ; Toronto, ON – September 16, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it will be presenting at the MasterCard Commercial Customer Event being held today at the One World Observatory in New York City. Chief Executive Officer Craig O’Neill will participate on a panel to discuss Mastercard Track™ Business Payment Service, Mastercard’s strategy to re-invent the $125 trillion global B2B payments ecosysytem and VersaPay’s role in helping Mastercard bring Track BPS to market in 2020. The audience will include dozens of executives from many of the largest global banks....

VersaPay Further Enhances Client-Centric Focus With New Organization Structure

September, 12, 2019

Toronto, ON – September 12, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced a new organization structure to better position the company to scale its client-facing operations as growth of its client base continues to accelerate. A newly combined group covering both professional services and client success will support the entire lifecycle of new and existing clients. Geoff Kent joins the Company as VP Client Services  with responsibility for implementation, integration, solutions, client success and support.  Mr. Kent’s prior roles include leading B2B programs for Fortune 500 companies across airline, automotive, hospitality and financial services verticals. He...