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Versapay Reaches New Milestones With Invoicing and Accounts Receivable Automation Platform

Published on 3 min read

Toronto, ON – April 4, 2016 – Versapay Corporation (TSXV: VPY) ("Versapay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced the latest milestones the Company has achieved with ARCTM, its accounts receivable automation platform.

Versapay now has 43 suppliers signed, including 33 that are currently live with 17,700 of their end-customers using the platform. This represents growth of 51% in the number of end-users in the past 3 months. Invoices received by customers have almost doubled over the period, to 396,000, and payments are up just over 2 times, to $23.1 million. The latest metrics reflect Versapay’s continued focus on a number of target markets including the media industry.

Most recently the Company signed a media ERP platform provider as a new customer, which in turn provides visibility of ARC to hundreds of other companies in the media industry. Additionally, VersaPay has secured contracts with an ERP vendor in trucking and logistics as well as a number of other companies in that vertical market.

“We continue to see steady growth in sales to new suppliers and adoption by end-customers,” stated Craig O’Neill, CEO of Versapay. “Between SPARC, our recently launched end-customer adoption program and the unveiling of new features and partnerships that help companies transition away from paper, we expect the growth in counterparties on the platform to accelerate quarter over quarter throughout the year.”

About Versapay

Versapay is a leading cloud-based payment and A/R solution provider for businesses of all sizes. VersaPay PayPort gives companies an integrated solution for transacting securely in the cloud. VersaPay ARC allows businesses to deliver customized electronic invoices to their customers, to accept credit card and electronic check payments and automatically reconcile to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and also 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 647-258-9406 john.mcleod@versapay.com Babak Pedram Investor Relations Virtus Advisory Group Inc. 416-644-5081 bpedram@virtusadvisory.com

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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