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Versapay Adds Regency Centers—a Leading U.S. REIT—to Growing Customer List

Published on 4 min read

Jacksonville, FL ; Toronto, ON – April 24, 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 it has added Regency Centers as the latest organization to implement ARCTM.

With nearly 430 locations, Regency Centers is one of the largest grocery-anchored shopping REITs, based in the U.S. Regency was seeking an innovative solution that would help them proactively manage their growing list of tenants by offering account transparency and industry-leading reporting tools. Furthermore, Regency wanted a platform that would drive higher engagement rates among tenants and lead to a higher recovery rate of outstanding accounts receivable claims.

“In seeking a solution, we used a detailed due diligence approach and compared a number of technology providers and banks that could potentially meet our needs,” said Dale Johnston, Chief Information Officer for Regency Centers. “As part of our process, we found Versapay had the most comprehensive technology available on the market, and were able to fulfil the solution requirements as we envisioned moving us to the next level. Part of our company’s mandate is to be an industry leader in the integration of technology solutions to enhance and increase efficiency in our relationships with tenants, and we believe that VersaPay helps us achieve that goal.”

“With a consistent track record of wins over the past year ARC has become the new standard in AR automation for commercial REITs,” said Craig O’Neill, CEO of Versapay. “We are very pleased to have been selected by Regency after such a thorough evaluation process, and we are excited to work with them to enhance their tenants’ experience while streamlining Regency’s internal processes.”

About Regency Centers Corporation (NYSE: REG)

Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit regencycenters.com.

About Versapay Corporation (TSXV: VPY)

Versapay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. Versapay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.

More information about Versapay is available 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.

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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