VersaPay Signs Up Sihl Incorporated as 25th Customer On ARC Platform

TORONTO, Nov. 3, 2015 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, has just announced the Company's newest customer to sign up for its accounts receivable automation platform. Sihl Incorporated is an amalgamation of coatings companies specializing in coatings for a wide range of applications.

"We selected VersaPay to help us reinvent the way we manage our invoicing and accounts receivable processes," commented Stephanie Provost, CFO of Sihl Incorporated. "VersaPay's solution eliminates many of the challenges we faced, from the preparation of invoices through to the manual matching of payments to invoices. We continually seek for ways to further enhance our customer experience, while driving improvements in their business operations. We expect to see a marked improvement in our financial operations while making it easier for our customers to conduct business with us as a result of working with VersaPay."

"We are very happy to see Sihl become a customer as they hold a significant position in the coatings and manufacturing sector, and it is clear early in the process that they will realize major benefits by using the VersaPay ARC platform," commented Craig O'Neill, CEO of VersaPay. "We look forward to having many more manufacturing businesses leverage the platform in the near future."

About Sihl Incorporated

Sihl Incorporated is a Sihl - global leader for digital print substrates. We produce an unparalleled range of films, papers, and specialty materials for inkjet, solvent, UV curable, latex and toner-receptive wide format plotters, printers, and presses.

We are a group of companies with legacies that tie us to the start of nearly all of the important technologies that put ink on paper. Our name, Sihl, is from the river in Switzerland on which the founders built a paper mill in 1478 to fill demand that followed Gutenberg's invention of mechanical movable type. Across the next five centuries, Sihl, and the companies that became part of today's enterprise, started as pioneers and became champions in their fields.

At the start of digital printing, we were there … Pen-plotter, electrostatic, dry-toner, liquid-toner, inkjet. As the leaders in technology development for digital printing (HP, Canon, Epson, Xerox and a host of others) put more intelligence, higher resolution, and faster speed into their printer hardware, we maintained an unwavering commitment to develop print medias optimized for each technology advancement.

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.

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)". Image available at: http://photos.newswire.ca/images/download/20151103_C5518_PHOTO_EN_535010.jpg

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

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