TORONTO, Dec. 1, 2014 /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 The Beer Store, a Molson / Labatts joint-venture company, has gone live on VersaPay's ARCPay platform to increase payment acceptance. This represents one of VersaPay's largest customer acquisitions to-date.
"We are excited to announce that The Beer Store has selected VersaPay to support its initiative to increase electronic payments from its business customers," commented Craig O'Neill, VersaPay's CEO. "The distribution industry is an attractive market for us and The Beer Store provides a strong case study for the value proposition VersaPay offers to distributors."
Additionally, Brewers Distributor Ltd. (BDL) – the sister distribution company of The Beer Store in Western Canada, has renewed its service contract with VersaPay. BDL has been one of the longest standing customers of VersaPay.
About The Beer Store
Founded in 1927, The Beer Store is the trading name for Brewers Retail – a joint-venture between Molson-Coors Brewing Company and the Labatt arm of Anheuser-Busch InBev of Belgium. With over 441 retail stores in Ontario, it is the largest distributor of domestic beer to over 16,000 Ontario licensees.
About Brewers Distributor
Brewers Distributor Ltd (BDL) is a private joint venture company owned by Labatt Breweries of Canada and Molson Breweries for the wholesale distribution of beer and the collection of returnable, refillable and recyclable beer containers within the four Western Canadian Provinces, as well as Northwest Territories and the Yukon.
VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay's ARC and ARCPay software-as-a-service offerings allow businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT / ACH 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 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 and information.
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.
Neither the TSX Venture Exchange nor its Regulations 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
For further information: For additional information about this news release, please contact: David C.W. Chan, Chief Financial Officer, VersaPay Corporation, Telephone: (647) 258-9475, Email: [email protected], More information about VersaPay can be found at www.versapay.com.