PRINCETON, NEW JERSEY--(Marketwired - April 28, 2014) - Heartland Payment Systems (NYSE:HPY), one of the nation's largest payments processors, is now offering its customers the innovative, cost-effective VersaPay ARC eInvoicing system as a means of eliminating the time, cost and cash flow challenges associated with paper invoices delivered by mail. Under a reseller agreement between Heartland and VersaPay Corporation's (TSX VENTURE:VPY) U.S. subsidiary, Heartland is providing U.S. small and mid-size businesses with the capability to transform their manual invoicing operations into an efficient electronic system that delivers invoices online in a secure merchant-branded portal and provides their customers with the option to pay using credit or debit cards.
"The VersaPay ARC eInvoicing platform is a particularly useful solution for any business that traditionally sends customers paper invoices, especially small to mid-size businesses such as accounting, law, insurance, manufacturing, distribution and many others," said Kris Herrin, chief of emerging products, Heartland Payment Systems. "Paper invoices typically cost a few dollars to process from end to end, and it can take thirty to ninety days to receive payment. With VersaPay ARC eInvoicing, each invoice costs less than a postage stamp to process and payments are received days or even weeks earlier."
Accessible through Heartland's Portico ecommerce gateway with enterprise-grade security, the VersaPay ARC eInvoicing platform enables merchants to either import invoices through their accounting software or create them using VersaPay's software. Merchant-branded invoices are delivered instantly to the portal and customers are notified via email. Fully integrated with a merchant's payment processing system, the merchant's customers have the option to pay using credit or debit cards. Merchants can easily track when an invoice was sent, when their customer received and viewed the invoice, and when payment was made.
"Heartland is uniquely positioned to deliver all the benefits of our ARC eInvoicing system nationwide with its world-class reputation and sales distribution network," said Todd Whiton, president of VersaPay Payment Technology Solutions, VersaPay's U.S. subsidiary. "The opportunity to change the way invoices are issued and paid between U.S. businesses is enormous, and we believe this strategic partnership with Heartland will broaden the acceptance of our technology."
For more information about the VersaPay ARC eInvoicing system, visit www.versapay.com.
VersaPay is a financial technology company that delivers payment solutions for businesses. Serving more than 2,500 customers, VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types to accept and process electronic payments. The Company's cloud-based invoice presentment and payment platform facilitates the efficient exchange of documents and payments between suppliers and customers. VersaPay has operations in New York, Toronto and Montreal.
About Heartland Payment Systems
Heartland Payment Systems, Inc., the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, mobile commerce, e-commerce, marketing solutions, security technology, payroll solutions, and related business solutions and services to more than 275,000 business and educational locations nationwide. A FORTUNE 1000 company, Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. Heartland also established The Sales Professional Bill of Rights to advocate for the rights of sales professionals everywhere. More detailed information can be found at HeartlandPaymentSystems.com, HeartlandPaymentSystems.com/Careers, Heartlandpaymentsystems.com/Blog or follow the company on Twitter @HeartlandHPY and Facebook at facebook.com/HeartlandHPY.
This press release contains statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors, including risks and additional factors that are described in the Company's Securities and Exchange Commission filings, including but not limited to the Company's annual report on Form 10-K for the year ended December 31, 2013. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.