VersaPay Corporation
TSX VENTURE : VPY

VersaPay Corporation

September 23, 2014 09:00 ET

Teachers Life Becomes VersaPay ARC Customer

TORONTO, ONTARIO--(Marketwired - Sept. 23, 2014) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that Teachers Life, the foremost insurance provider for teachers throughout Ontario, has become a VersaPay ARC customer. ARC is VersaPay's cloud-based eCommerce platform that enables suppliers to collaborate with their customers, publish invoices online and securely accept electronic payments.

"We are very pleased to have our first ARC insurance customer in Teachers Life," commented Craig O'Neill, VersaPay's CEO. "We, along with our partners, have targeted the financial industry as one of the key verticals where we can drive significant value with the unique capabilities of ARC."

Doug Baker, President and CEO of Teachers Life, said, "We are delighted to have found a Canadian company that understands our needs and created a solution that not only provides our Members with quality service but confidence in the security of their information."

VersaPay's ARC solution for Teachers Life will be highlighted at the upcoming Management Data's FIMMAS User Group Meeting on September 24th in New Orleans. Mislav Majic, VersaPay's Vice President of Sales, along with representatives of Teachers Life, will be speaking at the conference about PCI compliance as it relates to the ARC software and the insurance industry.

"Presenting at Management Data's conference will provide exposure for our ARC solution to some of the biggest insurance companies in North America. We are honoured that Teachers Life has included us and look forward to sharing the stage with them," said Mr. Majic.

About Teachers Life

Teachers Life is a not for profit organization that provides insurance products and services specifically tailored for active and retired teachers and their families.

About VersaPay

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 or EFT payments and automatically reconcile payments to their ERP and accounting software.

VersaPay's is headquartered in Toronto, Canada, and has operations in Montreal and New York.

More information about VersaPay can be found at www.versapay.com.

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.

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