CHICAGO, June 16, 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 Chicago-based Logistical Labs has adopted VersaPay's ARC solution. Logistical Labs provides cloud-based pricing solutions for the supply chain industry. Their flagship product, LoadDex, is an intuitive pricing platform that aggregates truckload, less-than-truckload, and intermodal shipping rates with a single search.
"As a fellow technology company, we recognize the value in automating a key function like accounts receivable," commented Chris Ricciardi, Chief Product Officer at Logistical Labs. "We also like that VersaPay is a PCI (Payment Card Industry) Level 1 Service Provider, allowing us to securely accept credit card payments online from our customers."
"We are delighted to be working with Logistical Labs, a technology company dedicated to the supply chain industry, as they help their customers to improve their business processes and performance. Trucking and logistics are target markets for us, and Logistical Labs' decision to use ARC to enhance their AR process is yet another sign of the value we deliver to these markets", commented VersaPay's Chief Executive Officer Craig O'Neill. "We are very pleased with the progress we are making in these markets with our intelligent AR solution, and we look forward to making additional new customer and partnership announcements in the future."
About Logistical Labs
Logistical Labs creates innovative technology that takes the complexity out of shipping and opens up new possibilities across the supply chain. Corporations collect massive amounts of highly valuable data every day, but many don't have the time or resources in place to do anything with it. We bring this data together, make it easy to analyze, and help customers gain insights and break through productivity barriers.
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.
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.
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SOURCE VersaPay Corporation
For further information: David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, [email protected]; John McLeod, Vice President, Marketing, VersaPay Corporation, 647-258-9406, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]