VersaPay Launches Newest Version of ARC Its Accounts Receivable Automation Platform

LAS VEGAS, NV, Oct. 27, 2015 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, has just announced the newest version of ARC, the Company's accounts receivable automation platform.

The enhancements introduced in this latest release reflect the experience and feedback of over 9,000 end customers that have signed up to use the platform, as well as VersaPay's strategy to continuously drive innovation and offer the best solution for online A/R in the market.

"I am very pleased to see the level of engagement our customers are exhibiting on the platform," said Craig O'Neill, CEO of VersaPay. "Much of the feedback we are receiving confirms that the system is indeed quick and easy to use, but we're also getting some great ideas to refine existing features and add new capabilities that solve real business problems. This latest version of ARC is a great example of both types of improvements: refinements that add speed and convenience, as well as some exciting new capabilities."

The newest version of the ARC platform will be demonstrated this week at Money2020 taking place in Las Vegas, Nevada. Money2020 is the largest global event focused on financial services innovation for connected commerce. Visit VersaPay in booth #2517 as part of the Ontario FinTech Pavilion. For more details on VersaPay's reception visit: http://www.versapay.com/category/events/.

The latest iteration of the ARC platform introduces a number of advancements including:

• New Payment Rules for managing incentives, discounts and restrictions
• Enhanced Collaboration and Dispute Management with an integrated email experience
• Expanded Notifications covering many new events
• New Invoice Views that make it easier than ever to find what you're looking for and quickly take action
• Enhanced AutoPay and Scheduled Payments that reduce time and effort for buyers
• Short Payments at the Invoice line item level to further enhance automatic reconciliation and dispute resolution

About VersaPay

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.

More information about VersaPay can be found on the Company's website 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

Image with caption: "VersaPay Corporation (CNW Group/VersaPay Corporation)". Image available at: http://photos.newswire.ca/images/download/20151027_C6535_PHOTO_EN_529828.jpg

David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, [email protected]; John McLeod, Vice President, Marketing, VersaPay Corporation, 647-258-9406, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]