17 May

SPS Commerce Becomes Newest Client of VersaPay’s Invoice to Cash Solution

Toronto, ON – May 17, 2017 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced SPS Commerce, Inc. has signed on as the company’s newest client to use VersaPay ARC™ to automate their invoice to cash process.

“We are serving customers globally and rely on strategic partners like VersaPay to support our financial operations and provide excellent service for our customers,” said Kim Nelson, chief financial officer, SPS Commerce. “Now we have a streamlined approach that covers collections and much more, including our invoice to cash process.”

“More and more companies are beginning to appreciate the innovative approach we bring to solving common challenges in their financial operations. New thinking is required to make big leaps forward and ARC provides a new and fundamentally better way to address collections problems,” noted Craig O’Neill, CEO of VersaPay. “Although SPS Commerce was originally looking for a collections tool, their team selected Versapay over leading collections vendors when they realized that ARC would dramatically improve collections through a combination of automation and customer self-service, plus it would address many other challenges in their invoice to cash process as well.”

About VersaPay

VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay’s ARC software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software.

More information about VersaPay can be found on the Company’s website at www.versapay.com or under the Company’s profile on SEDAR at www.sedar.com

For additional information, please contact:

John McLeod
Vice President, Marketing
VersaPay Corporation
647-258-9406
[email protected]
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.
416-644-5081
[email protected]

Forward Looking and Other Cautionary Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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