VersaPay Announces Cargas Systems as Their First Gold Referral Partner

PITTSBURGH, PA and TORONTO, April 17, 2018 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that Cargas Systems, a Pennsylvania-based business software and consulting organization, is the first Gold Partner of VersaPay's new Partner Program.

Upon being introduced to VersaPay ARC^TM, Cargas immediately recognized how AR automation would be attractive to their clients. By addressing key challenges in the AR process and eliminating manual tasks, this solution will allow their clients to reduce DSO, improve cash flow, and increase working capital.

"We view VersaPay's intelligent AR solutions as part of a modern finance system, automating AR tasks and allowing forward looking finance professionals to focus on high-value analysis," said Mike Yeager, Vice President, Cargas Systems. "Our partnership with VersaPay will bring shared success to Cargas, VersaPay, and most importantly, our customers,"

"We're delighted that Cargas Systems has joined our partner program as a Gold Partner," said Craig O'Neill, CEO of VersaPay.  "As a member of the Intacct President's Club and with their impressive track record of success that includes over 1,000 software implementations and a 98% customer retention rate, Cargas is the kind of customer-focused company that we are proud to work with. We look forward to serving many of their customers."

VersaPay has launched its Partner Program as a key part of the Company's commitment to provide industry leaders in the technology services space with best in-class AR automation and collection tools for their clients, helping them drive new revenue opportunities while strengthening customer relationships. For more information on VersaPay Partnership Programs visit www.versapay.com/partnership or email [e-mail].   

About Cargas Systems

Cargas is an employee-owned business software and consulting company with over 100 employees. The company specializes in the following areas: Intacct® cloud accounting, Microsoft Dynamics™, custom software solutions, and Cargas Energy mobile and back office software for fuel delivery companies.

Established in 1988, Cargas fosters a unique culture of employee ownership, shared values, and a commitment to excellence. This is evident in the quality of service provided to customers, commitment to teamwork, and being recognized for the following achievements: 2016 Central Penn Business Journal Business of the Year, 2016 Samaritan Counseling Center Ethics in Business Award winner and one of the Best Places to Work in PA for twelve years.

For more information about Cargas, visit cargas.com.

About VersaPay

VersaPay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. VersaPay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. VersaPay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.

More information about VersaPay is available 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 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.

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

For further information: John McLeod, Vice President, Marketing, VersaPay Corporation, 647-258-9406, [e-mail]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [e-mail]

Related Links

www.versapay.com