VersaPay Surpasses 100,000 Businesses on ARC Platform

March, 20, 2018

Toronto, ON – March 20, 2018 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 the Company is now serving more than 100,000 businesses on the ARC®️ platform. This important milestone has been achieved within 3 quarters of hitting the 50,000 threshold, a clear indication of the acceleration in ARC adoption. As the Company continues to sign new clients (suppliers) to use VersaPay ARC, the number of businesses (end-customers) using the platform to review their invoices and accounts and make payments electronically continues to grow exponentially. Once a supplier begins to use the...

VersaPay Selected By ReedTMS Logistics To Automate Their Invoice-To-Cash Cycle

February, 15, 2018

Tampa, FL ; Toronto, ON – February 15, 2018 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 ReedTMS (“Reed”) has selected VersaPay ARCTM to automate its accounts receivable and collections processes. Reed sought a solution that would automate its accounts receivable process in order to increase efficiency, accelerate the collections process and support expansion, without adding additional staff. By implementing VersaPay ARC, Reed expects to see a significant reduction in Days Sales Outstanding (DSO) through a host of customer collaboration and collections tools and by providing customers with multiple electronic payment options....

VersaPay Wins TSXV Canadian Tech Stock of the Year and Executive of the Year Awards at Cantech Investment Conference 2018

February, 1, 2018

Toronto, ON – February 1, 2018 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 is pleased to announce that it has won the TSXV Canadian Tech Stock of the Year award and CEO Craig O’Neill was named the TSXV Tech Executive of the Year at the Cantech Investment Conference 2018. The TSXV Tech Stock of the Year and Executive of the Year awards are determined by 38 industry analyst experts who cover the Canadian technology sector. The winner was announced January 31, 2018 at the Cantech Awards Gala. “It is an honour to be recognized among...

Big 4 Accounting Firm Signs Agreement to use VersaPay’s AR Automation

January, 23, 2018

Toronto, ON – January 23, 2018 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 they have signed a “Big 4” accounting firm to use ARC™ to automate their invoice-to-cash process. As a thought-leader in accounting best practices, the firm recognized the benefits of providing customer self-service and process automation to increase customer satisfaction and streamline internal operations. As a leading audit firm, security was also a key consideration. It was crucial that the solution meet the highest standards of security and reliability. “We are delighted to have won the confidence of one of the...

VersaPay Signs Floral Distributor As The Newest Client To Adopt ARC, Its Invoice-To-Cash Solution

December, 12, 2017

Toronto, ON – December 12, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 that one of Canada’s largest floral distributors has signed on to use ARC™, the Company’s innovative invoice-to-cash solution. The client was looking for a robust solution to create a stronger online relationship with their customers. Like any business, the invoicing and payment process is foundational to cash flow and customer satisfaction, so they required a highly secure and reliable solution, but just as importantly, a platform with a proven track record of high customer adoption and satisfaction. The client currently issues...

VersaPay Signs Agreement With Waste Management Company To Provide Accounts Receivable Automation Platform

November, 21, 2017

TORONTO, Nov. 21, 2017 /CNW/ – VersaPay Corporation (TSXV: VPY)(“VersaPay” or the “Company”), 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 that a major waste management company has become the newest client to use its invoice-to-cash automation solution. The waste management company decided to offer a new digital environment to their customers, making it easier to do business together. The client expects to realize significant efficiencies by automating manual tasks such as sending overdue notices and manually applying payments. What’s more their AR staff can now view account level information consolidated by division or across the enterprise. This enables a more proactive approach to...

VersaPay Announces Q3 2017 Financial Results, Key Leadership Changes and Strong Metrics Growth

November, 16, 2017

– Software Revenue Grows by 97.5% Year over Year – Toronto, ON – November 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 third quarter (“Q3”) financial results for the three and nine months ended September 30, 2017. “We achieved several important objectives this quarter,” said Craig O’Neill, CEO of VersaPay, “We established our US expansion plan, strengthened our sales leadership to execute the plan, and closed a private placement for $10.7 million to fund the plan. Meanwhile we continued to see strong growth in our revenues, gross margin and ARC metrics. These achievements are important steps on the path to achieving our...

VersaPay Achieves New Milestones As It Scales The Number of Companies Using ARC, Its Invoice-To-Cash Automation Platform

October, 26, 2017

Toronto, ON – October 26, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), 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 that it has achieved significant new milestones with ARC™, its invoice-to-cash automation platform. 77,500 end customers are now using VersaPay ARC to receive and pay invoices, representing growth of nearly 50% since the beginning of Q3. This is a key metric the Company monitors to measure real growth and the future trajectory of the platform. The number of clients using ARC to issue invoices and get paid electronically has grown to 120 including a number of larger enterprise accounts. The growing...

VersaPay to Present at StableView Asset Management TECH17 Conference

October, 19, 2017

Toronto, ON – October 19, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), is pleased to announce that the Company’s Chief Executive Officer Craig O’Neill will be presenting at the StableView Asset Management TECH17 Conference on Thursday, October 26, 2017 at 10am. Mr. O’Neill will be joined by one of the Company’s channel partners to discuss their plans to offer VersaPay ARC to a wide array of prospects across Canada. “We are delighted to again be a part of the StableView Tech Conference, an opportunity to share our story with many of Canada’s prominent technology investors,” said Craig O’Neill, CEO of VersaPay. “Even more so, I’m excited to have one of our partners join me to talk...