VersaPay Ranks 8th on the 11th Annual PROFIT HOT 50

TORONTO, Sept. 23 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a provider of merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions, is pleased to announce that it has ranked 8th on the 11th annual PROFIT HOT 50 ranking, after achieving annual revenue growth of 1,107% from 2007 to 2009.

"We are thrilled to have been named one of Canada's top Emerging Growth Companies, placing in the top 10 of the PROFIT HOT 50 ranking for the second year in a row," said Bill McGill, CEO of VersaPay. "This is a strong testament to the success we have had in rapidly expanding our merchant customer base since 2007."

"Creativity, foresight and focus are just some of the traits required to launch a successful business in today's volatile marketplace," says PROFIT editor Ian Portsmouth. "This year's PROFIT HOT 50 leaders have these qualities in abundance, plus many effective management ideas that other business owners would do well to borrow."

The PROFIT HOT 50 is the definitive ranking of Canada's Emerging Growth Companies. Published in the October issue of PROFIT magazine and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth.

About VersaPay

VersaPay's financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions. As a payment services and financial technology company serving more than 2,500 Canadian businesses, VersaPay, in conjunction with its partners, provides the hardware, technology, infrastructure and support services that businesses of all types require to accept and process electronic payments from their consumers and clients.

While its core business is payment processing services, VersaPay also provides enhanced financial technology solutions such as VersaEFT - the Company's proprietary Electronic Bill Presentment and Payment solution - which enables merchants and consumers to easily transact with one another.

VersaPay is headquartered in Vancouver, Canada and has operations in Toronto and Montreal. To learn more about VersaPay, visit http://www.versapay.com.

About PROFIT Magazine

PROFIT: Your Guide to Business Success is Canada's preeminent publication dedicated to the management issues and opportunities facing small and mid-sized businesses. For 28 years, Canadian entrepreneurs and senior managers across a vast array of economic sectors have remained loyal to PROFIT because it's a timely and reliable source of actionable information that helps them achieve business success and get the recognition they deserve for generating positive economic and social change. Visit PROFIT online at www.PROFITguide.com.

Neither 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.

For further information: Bill McGill, CEO, VersaPay Corporation, [email protected], 1-647-258-9378; Kristen Dickson, Investor Relations, The Equicom Group, [email protected], 1-416-815-0700 ext. 273