VersaPay acquires control of Positive Inc., creating Canadian leader in wireless POS deployment

    VANCOUVER and MONTREAL, Feb. 14 /CNW/ - In a move aimed at providing
additional value-enhancing payment solutions to Canadian merchants,
VersaPay Corporation today announced today that it has acquired control of
Positive Inc. ("Positive"), a leading provider of wireless point of sale
terminals and merchant services in Canada.
    Following the closing of the transaction, Positive will operate as a
separate subsidiary of VersaPay Corporation.
    "We are very excited about working directly with Positive's team and
enhancing the suite of financial transaction products we can offer our
merchants," said Michael Gokturk, CEO of VersaPay Corporation. "Given the
tremendous expertise Positive has in the wireless terminal sector and their
exceptional credibility and integrity in the industry, we couldn't be happier
to find an acquisition that fits perfectly with our strategy of expanding our
service offerings and adding value to merchant relationships."
    "Positive has built an intense infrastructure unparalleled by many
competitors and financial institutions," says Anthony Stapenhurst, President
and CEO of Positive. "We have been able to do so by establishing relationships
with many vendors from which we are able to offer more products and services
to customers to better meet their individual needs. To attain a competitive
edge is to enhance the standard products in the market place by tying in more
value added programs and services that benefit not only the business owners
but the end users as well."


    Positive Inc. is one of Canada's leading credit and debit card processing
companies specializing in wireless POS terminal deployment and injection. With
over 1,500 terminals deployed to some of the largest taxi companies in Canada,
Positive has grown very quickly since its inception. The company also provides
standard merchant accounts to small and medium sized businesses across Canada.
The company was established by Anthony Stapenhurst, a CIBC veteran since 1998
and referred to as a pioneer in the deregulated private sector for offering
payment solutions to merchants.


    VersaPay provides the hardware, technology, infrastructure and support
services that businesses of all types and sizes require to accept credit,
debit cards from their consumers or clients. The company also provides
value-added payment solutions such as e-commerce solutions, loyalty & gift
cards as well as B2B payment platform integration and systems design. VersaPay
has offices in Vancouver, Montreal and Calgary. Learn more about VersaPay
Corporation at or by calling 1-866-999-VPAY (8729).

For further information:

For further information: Patrick MacDonald, President - VersaPay
Corporation, (514) 315-8595 or

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