Heartland, VersaPay Help Merchants Move to Electronic Invoicing

McDonough's Sewer Service Reduces Time to Send Invoices and Collect Payments via Heartland, VersaPay Cloud-Based Solution

PRINCETON, NJ, Aug. 13, 2015 /CNW/ - Heartland Payment Systems (NYSE: HPY), one of the nation's largest payment processors, and VersaPay Corporation (TSXV: VPY), a leading provider of cloud-based invoicing and accounts receivable management, today announced they are collaborating to help merchants improve their accounts receivable through a cloud-based software solution utilizing the Heartland Portico™ Gateway and VersaPay ARC® platform.

Heartland and VersaPay helped McDonough's Sewer Service, owner of unclogdrains.com, reduce the time it takes to invoice and collect payment for their services for residential and commercial clients in the twin cities of Minneapolis and St. Paul, Minn. and surrounding areas.

McDonough's Sewer Service has provided a variety of services for more than 20 years including drain cleaning, water jetting, industrial vacuuming, sewer video inspection, de-watering, hydro-excavating/potholing, ceiling and structure cleaning, high-pressure washing, production line cleaning and manufacturing facility cleaning.

Key Highlights/Facts

  • Fewer lost or missing invoices, quicker approval cycles, a reduction in labor/processing costs and increased on-time payments are reasons cited by merchants for moving their accounts payable system to an electronic invoicing and payment solution, according to the "2014 eInvoicing Benchmark Report" by PayStream Advisors.
  • With the Heartland Portico Gateway, merchants can use their Internet-enabled device to quickly and securely process credit, debit and prepaid commercial card transactions by manually keying in cardholder information or adding an end-to-end encryption personal identification number (PIN) pad that will encrypt all card information as it is swiped and key-entered.
  • Heartland Portico Gateway provides an inexpensive way for merchants to accept payments and replaces stand-alone payment terminals that require dedicated phone lines. The Heartland Portico Gateway can also be used to process card-present and card-not-present transactions.
  • VersaPay ARC is a highly secure, cloud-based accounts receivable solution that helps businesses eliminate costs, make customers happy and get paid faster. With VersaPay ARC businesses can:
    • Seamlessly connect to their enterprise resource planning (ERP) systems.
    • Publish invoices and supporting documents in a secure portal.
    • Collaborate with customers on discrepancies and questions.
    • Send customized reminders and notifications.
    • Match payments to invoices.
    • Accept payments, such as automated clearing house, electronic funds transfer and debit/credit card.
    • Track key business metrics.
    • Automatically reconcile back to their accounting and ERP systems.
  • The Heartland and VersaPay solution is available today for purchase. Merchants can contact their Heartland relationship manager or the Heartland eCommerce team at 1.866.802.9753 or clientservice@e-hps.com.

Supporting Quotes

  • Steve McDonough, president, McDonough's Sewer Service
    "We chose to work with Heartland and VersaPay because they offered the best option to help McDonough's gain back more time to service our existing business and less time to handle our accounts receivable through a secure, reliable electronic invoicing and payment solution. The savings of time and ability to collect funds faster are necessary in order to maintain our high standard of service."

  • Joe Wysocki, senior director of eCommerce, Heartland
    "Our collaboration with VersaPay allows companies like McDonough's Sewer Service to automate manual billing systems, improve cash flows, condense days outstanding, lower cost and improve the overall experience for the bill payment recipient. Savings from a reduction in total cost of payments acceptance can then be re-invested into the operation of the business."

  • John McLeod, vice president of marketing, VersaPay
    "We appreciate the opportunity to partner with Heartland and provide a secure, cloud-based accounts receivable solution to McDonough's Sewer Service, so they in turn can provide a superior experience for their customers while reducing costs. We look forward to working with many more of Heartland's valued customers."

Supporting Resources

Tags/Keywords: Heartland Payment Systems, Heartland, Heartland Portico Gateway, Portico Gateway, VersaPay, VersaPay ARC, McDonough's Sewer Service, Unclogdrains.com, Joe Wysocki, Steve McDonough, John McLeod

RSS Feed for Heartland news releases:  http://www.snl.com/irweblinkx/rss/prfeed.aspx?iid=4094417

About Heartland

Heartland Payment Systems, Inc. (NYSE: HPY), one of the largest payment processors in the United States, delivers credit/debit/prepaid card processing and security technology through Heartland Secure™ and its comprehensive Heartland breach warranty. Heartland also offers point of sale, mobile commerce, e-Commerce, marketing solutions, payroll solutions, and related business solutions and services to more than 300,000 business and educational locations nationwide.

A FORTUNE 1000 company, Heartland is the founding supporter of the Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. Heartland also established the Sales Professional Bill of Rights to advocate for the rights of sales professionals everywhere.

About VersaPay

VersaPay Corporation (TSXV: VPY), 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 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 VersaPay 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 VersaPay 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 VersaPay's business, VersaPay's formative stage of development and VersaPay's financial position.

Forward-looking statements contained herein are made as of the date of this news release and VersaPay 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/20150813_C5155_PHOTO_EN_477022.jpg

Image with caption: "Heartland Payment Systems (CNW Group/VersaPay Corporation)". Image available at: https://photos.newswire.ca/images/download/20150813_C5155_PHOTO_EN_477020.jpg

For further information: Kevin Petschow, Heartland, +1.312.205.1607, Kevin.Petschow@e-hps.com; Chandra Hayslett, G&S Business Communications, +1.212.697.2600, Ext. 1267, chayslett@gscommunications.com; John McLeod, VersaPay Corporation, +1.647.258.9406, John.mcleod@versapay.com; Babak Pedram, Virtus Advisory Group Inc., +1.416.644.5081, bpedram@virtusadvisory.com


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