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U.S. Commercial Real Estate Firm Brixmor Property Group Goes Live on Versapay’s Cloud-Based Accounts Receivable Solution

Published on 4 min read

Toronto, ON; New York, NY – December 8, 2015 – 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 Brixmor Property Group Inc. (NYSE: BRX) (“Brixmor”), a leading U.S. retail commercial real estate investment trust (REIT), has become an ARC customer. Brixmor owns and operates America’s largest wholly-owned portfolio of grocery-anchored community and neighborhood shopping centers, with more than 500 properties strategically located across 38 states.

“We were looking for a platform that would enhance communications with our customers as well as provide more payment options for our tenants,” said Dennis Hanifan, Vice President, Application Systems with Brixmor. “Given the scale of our company, we also wanted to simplify how we receive and reconcile payments from our tenants, and found Versapay’s ARCTM solution was a good fit for our needs.”

“Earning Brixmor’s business demonstrates our ability to successfully deploy ARC into large companies in key vertical markets,” commented Craig O’Neill, Versapay’s CEO. “We now have lead customers in key verticals including media, transportation and logistics, manufacturing and commercial real estate. Once we have a significant customer in a target vertical our ability to win more business within that vertical increases dramatically and the sales cycle is reduced.”

“The best part of the Versapay Tenant Portal is that our tenants can view invoices, obtain backup and make payments any time with the press of a button,” said Grace Bellino, Brixmor’s Vice President of Collections. “Additionally, it is easy for tenants to sign up for the online service which is very intuitive, saving them time.”

About Brixmor Property Group

Brixmor owns and operates the nation's largest wholly owned portfolio of grocery-anchored community and neighborhood shopping centers, with 519 properties aggregating approximately 87 million square feet of gross leasable area located primarily across the top 50 U.S. metro markets. Brixmor leverages its national footprint, local market knowledge and operational expertise to support the growth of its retail tenants. The Company is focused on maximizing the value of its portfolio through its ongoing “Raising the Bar” program which involves strategic leasing and anchor space repositioning / redevelopment initiatives. Headquartered in New York City, the Company is the largest landlord to The TJX Companies and The Kroger Company. For additional information, please visit www.brixmor.com; follow Brixmor on Twitter at www.twitter.com/Brixmor and find Brixmor on LinkedIn at www.linkedin.com/company/brixmor.

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. Versapay is headquartered in Toronto, Canada and has operations in Montreal.

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
Babak Pedram
Investor Relations
Virtus Advisory Group Inc.

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. The specific metrics referenced in this release are non GAAP measures.

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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