Packaging Group Selects VersaPay for Electronic Invoice Presentment

Toronto, Ontario--(Newsfile Corp. - December 12, 2013) - VersaPay Corporation (TSXV: VPY) ("VersaPay"), a leading supplier of cloud-based payment solutions, announced today that Winpak Ltd.'s (TSX: WPK) Winnipeg Manufacturing Division, a provider of high-quality packaging materials, has selected VersaPay's eInvoice solution to automate their accounts receivable presentment processes. Under the terms of the agreement, Winpak plans to migrate participating customers to the VersaPay cloud platform.

VersaPay's eInvoice platform provides Winpak Ltd. with a manageable and easy to use solution that seamlessly integrates into their existing environment, handles complex workflows and delivers significant savings over their existing A/R processes.

"In our continuous efforts to exceed our customer expectations and continuously improve efficiencies, VersaPay's eInvoicing system was the solution that met our current needs as well as the requirements we expect to have in the future," commented Rod Degeus, Director of Finance at Winpak Ltd.'s Winnipeg Manufacturing Division. "We are very excited to work with VersaPay to improve how we collaborate with our customers."

"We are very pleased that Winpak has chosen VersaPay's electronic invoice presentment and payment platform," commented Craig O'Neill, CEO of VersaPay. "In using our cloud-based solution Winpak will be able to streamline their operations, increase visibility on payment trends and satisfy their customers' desire to receive and pay invoices electronically."

About VersaPay

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. In addition, the Company's cloud-based invoice presentment and payment platform facilitates the efficient exchange of documents and payments between suppliers and customers. VersaPay is headquartered in Toronto, Canada and has operations in Montreal and New York.

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

About Winpak

Winpak Ltd.'s Winnipeg Manufacturing Division is part of a North American packaging group that manufactures and distributes high-quality packaging materials and related innovative packaging machines. The Company's products are used primarily for the protection of perishable foods, beverages, and in health care applications.

Winpak operates ten production facilities in Canada, the United States and Mexico.

More information about Winpak can be found at www.winpak.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.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks relating 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 are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward looking statements if these beliefs, estimates and opinions or other circumstances should change.

For additional information please contact:

Craig O'Neill, CEO, VersaPay Corporation
craig.oneill@versapay.com Telephone: (647)-258-9378

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.

 
Copyright 2014 Newsfile Corp. All rights reserved.
Terms and Conditions of Use | Privacy Policy | Contact Us