VersaPay Announces Q4 and Full Year 2016 Financial Results

April, 25, 2017

– Software Revenue Grows by 71% Year over Year – Toronto, ON – April 25, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced fourth quarter (“Q4”) financial results for the three and twelve-month periods ended December 31, 2016. “With the sale of our POS Merchant Services business in January, this is the first time we are reporting our results as a pure cloud-based software company in the fintech space,” said Craig O’Neill, CEO of VersaPay. “We are pleased with the healthy level of growth in ARC™ revenues, up 71% year over year with 90 suppliers signed on to the platform and 73 live...

McLeod Software Goes Live On VersaPay ARC To Provide Invoicing & Accounts Receivable Automation Solution

April, 19, 2017

Birmingham, AL ; Toronto, ON – April 19, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced McLeod Software (McLeod) is live on the ARC™ platform. McLeod, which has developed an ERP platform for the trucking and logistics industry, is one of the largest and fastest growing industry ERP providers in North America. “Our accounting staff finds great value in VersaPay’s solution as it enables a more efficient invoicing and AR process; It also provides our customers with better information and an enhanced payment experience,” said Kasey Burleson, CFO at McLeod Software. “Our team is particularly proud of winning McLeod’s business as they are a premier...

VersaPay Chosen by PREIT for Tenant Portal and Accounts Receivable Solution

April, 11, 2017

Philadelphia, PA; Toronto, ON – April 11, 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 it has been chosen by PREIT to provide its industry leading tenant portal and payment solution to support PREIT’s commercial real estate operations. “As the landlord for some of the leading retail brands in the US we strive to support our tenants with innovative technology to help them achieve success,” stated Bradford Hughart, Vice President, Information Technology at PREIT. “Following an extensive evaluation process, we selected VersaPay ARCTM as the platform to provide an easy-to-use portal that allows our tenants to view their invoices and make payments...

VersaPay ARC™ Achieves Oracle Validated Integration with Oracle’s JD Edwards EnterpriseOne

March, 14, 2017

San Francisco, CA ; Toronto, ON – March 14, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a Gold level member of Oracle PartnerNetwork (OPN), today announced it has achieved Oracle Validated Integration of VersaPay ARC™ with Oracle’s JD Edwards EnterpriseOne 9.2. Enterprise clients can make their customers happy and enable faster payments by deploying VersaPay ARC to automate their invoice to cash process. To achieve Oracle Validated Integration, Oracle partners are required to meet a stringent set of requirements that are based on the needs and priorities of customers. The integration of VersaPay ARC with JD Edwards EnterpriseOne helps ensure that clients experience seamless automation of their invoice-to-cash process, eliminating dozens of tasks, minimizing error rates...

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...