TORONTO, Jan. 10 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or
the "Company"), a provider of merchant credit, debit and e-checking
solutions, today announced that it has signed agreements to provide
Corus Radio with VersaPay's Email Money Transfer ("EMT") and credit
card processing services for the CorusConnect client portal and
ecommerce solution developed by BlueNest Technologies (www.bluenest.ca).
"We are very excited to be entering into this relationship with Corus
Radio," said Bill McGill, CEO of VersaPay. "We look forward to
providing Corus' 37 radio stations with increased payment
efficiencies through our bundled, EMT and credit card processing
VersaPay's Email Money Transfer platform enables money transfers between
any Canadian bank accounts. VersaPay EMT can help businesses increase
profits, shorten accounts receivable cycles and improve payment
efficiency. More information about VersaPay EMT can be found at www.versapay.com
Specific terms of the deal were not disclosed.
VersaPay's financial technology enables businesses and consumers across
Canada to accept and process credit, debit and gift card transactions.
As a payment services and financial technology company serving more
than 2,500 Canadian businesses, VersaPay, in conjunction with its
partners, provides the hardware, technology, infrastructure and support
services that businesses of all types require to accept and process
electronic payments from their consumers and clients.
While its core business is payment processing services, VersaPay also
provides enhanced financial technology solutions such as VersaPay Email
Money Transfer - the Company's proprietary Electronic Bill Presentment
and Payment solution - which enables merchants and consumers to easily
transact with one another.
VersaPay is headquartered in Toronto, Canada and has operations in
Vancouver and Montreal.
Forward Looking and Other Cautionary Statements
This news release contains forward-looking statements and information
that are based on the beliefs of management and reflect the Company's
current expectations. When used in this news release, the words
"estimate", "project", "belief", "anticipate", "intend", "expect",
"plan", "predict", "may" or "should" and the negative of these words or
such variations thereon or comparable terminology, are intended to
identify forward-looking statements and information. Such statements
and information reflect the current view of the Company with respect to
risks and uncertainties that may cause actual results to differ
materially from those contemplated in those forward-looking statements
By their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual
results, performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
Such factors include, among others, risks relating 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 are made based on management's beliefs, estimates and
opinions on the date that statements are made and the Company
undertakes no obligation to update forward looking statements if these
beliefs, estimates and opinions or other circumstances should change.
Investors are cautioned against attributing undue certainty to
forward-looking statements. There are a number of important factors
that could cause the Company's actual results to differ materially from
those indicated or implied by forward-looking statements and
information. Such factors include, among others, risks related to
following: the Company's financial position and the potential need for
future financings, the ability of the Company to maintain its
relationship with its strategic partner for payment processing, the
efforts and abilities of the senior management team, the ability of the
Company to attract and retain skilled management, competition in the
payment processing industry, and the Company's ability to respond to
technological change and protect its intellectual property rights.
The Company cautions that the foregoing list of material factors is not
exhaustive. When relying on the Company's forward-looking statements
and information to make decisions, investors and others should
carefully consider the foregoing factors and other uncertainties and
potential events. The Company has assumed a certain progression, which
may not be realized. It has also assumed that the material factors
referred to in the previous paragraph will not cause such
forward-looking statements and information to differ materially from
actual results or events. There can be no assurance that such
assumptions will reflect the actual outcome of such items or factors.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND
SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE
COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION
AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
Neither 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
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