VersaPay Signs Partnership Agreement With Katipult To Bring Secure Investment Crowdfunding Software To The Canadian Market

TORONTO, March 30, 2016 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based payment and accounts receivable management solutions, today announced that it has signed a partnership agreement with Katipult Software to bring a disruptive Crowdfunding solution for investment firms to the Canadian market. VersaPay's gateway technology enables Katipult to provide clients using its crowdfunding software product with an integrated secure payment capability.

"Katipult is thrilled to offer VersaPay as a payment solution and further bolster its leading software product. This is a game changing relationship for the Canadian investment community," says Brock Murray, CEO of Katipult. "We're bringing a product to the Canadian market that benefits everyone from investors to issuers as well as regulators, by creating a high standard for processing investment transactions. We're acting as technology partners and building an ecosystem to help firms grow their investor networks, efficiently manage investors, and streamline deal administration."

"We are continuously looking for partners to extend our offering throughout the financial services ecosystem and partnering with Katipult provides an excellent opportunity to do that," noted Craig O'Neill, VersaPay's CEO. "As private market participants move toward investment crowdfunding portals and real estate crowdfunding portals, they want to know that there is a flexible transaction environment to hold funds securely and ensure they are processed according to funding commitments. As a PCI Level 1 compliant solution, VersaPay enables Katipult to provide an integrated payment capability that delivers on these requirements."

About Katipult

Katipult is a crowdfunding software solution for private placements, investment crowdfunding, investor management, and listings. Katipult allows companies to design, setup, and manage an investment crowdfunding platform across multiple distribution channels including web, mobile, and social media. Katipult is being used in over 20 unique regulatory environments to grow investor networks, efficiently manage investors, and streamline deal flow administration.

For further information, please visit  www.katipult.com

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.

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

Image with caption: "VersaPay Corporation (CNW Group/VersaPay Corporation) (CNW Group/VersaPay Corporation)". Image available at: http://photos.newswire.ca/images/download/20160330_C4332_PHOTO_EN_653279.jpg

For further information: 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

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