VersaPay Achieves New Standard Recently Set for PCI Level 1 Service Providers

TORONTO, June 9, 2015 /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 it has successfully completed its Payment Card Industry Data Security Standard (PCI DSS) version 3.0 compliance as a PCI Level 1 Service Provider.  

"We are very pleased to have completed our PCI version 3.0 compliance and for the 4th year running have achieved PCI DSS Level 1 Service Provider status, the highest level of PCI compliance," commented Kevin Short, CIO of VersaPay. "Security is of the utmost importance to Versapay and our customers, and we are constantly investing in our security technology and practices to be best in class."

PCI 3.0 compliance raises the bar in several important areas:

  • More comprehensive and in-depth penetration testing to ensure data segmentation
  • Evaluations of evolving malware threats
  • Inventory of all physical and virtual hardware to prevent unauthorized physical access
  • Education requirements for staff on security processes

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 and New York.

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.

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.

SOURCE VersaPay Corporation

For further information: David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, david.chan@versapay.com; 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

RELATED LINKS
www.versapay.com

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