TORONTO, Aug. 28, 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 a major U.S. print media company has signed on to use the Company's ARC solution to automate their accounts receivable process. Under the agreement, the Company will receive a monthly software subscription fee and credit card transaction fees.
"We are delighted that this mid-west U.S. firm with over 1,000,000 readers across 30 newspapers and 24 print publications has decided to adopt our ARC technology to reinvent their account receivables process and improve their customers' experience," said Craig O'Neill, CEO of VersaPay. "This firm will deploy ARC to deliver several thousand invoices to their advertisers every month and to receive payments online. This new win is a great example of how we are leveraging existing customer relationships with satisfied clients like Metroland Media to expand our reach into our target verticals like Media."
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.
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SOURCE VersaPay Corporation
For further information: David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, firstname.lastname@example.org; John McLeod, Vice President, Marketing, VersaPay Corporation,647-258-9406, email@example.com; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, firstname.lastname@example.org