VersaPay Announces Addition of Payment Industry Veteran to Executive Team

ID: 1119922
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(businesspress24) - TORONTO, ONTARIO -- (Marketwire) -- 05/31/12 -- VersaPay Corporation (TSX VENTURE: VPY) ("VersaPay" or the "Company"), a leading provider of Electronic Invoice Presentment and Payment ("EIPP") solutions today announced that Todd S. Whiton has joined the Company. Mr. Whiton has been appointed to serve as President of VersaPay Payment Technology Solutions, Inc., a U.S. subsidiary that the Company recently established in order to introduce its EIPP product to the U.S. market.

Mr. Whiton has over 20 years of electronic payments experience in various executive and general management roles in environments ranging from start-up to Fortune 500 companies. Most recently, Mr. Whiton was co-founder of Capital Payments, a leading private equity backed merchant acquiror focused on the "Trusted Advisor" market.

"Todd's understanding of the electronic transaction industry, leadership experience and extensive relationships make him the ideal choice to lead our EIPP business in the U.S.," said Bill McGill, CEO of VersaPay. Mr. McGill continued, "We see a significant opportunity to grow our EIPP business in both Canada and the US and we are very fortunate to have someone of Todd's caliber on our team."

"I am excited to join VersaPay to help lead the growth of this innovative and timely business solution," added Mr. Whiton. "VersaPay has built and will continue to build a great team and platform which will help revolutionize how businesses throughout North America invoice more efficiently and get paid faster. There are millions of businesses in the U.S. and Canada that stand to benefit greatly by using our EIPP solution and we look forward to being of service to them in the months and years to come."

About VersaPay

VersaPay is a financial technology company that delivers payment solutions for businesses. VersaPay, together with its partners, provides the hardware, technology, infrastructure and support services to enable businesses of all types require to accept and process electronic payments.

In addition, the Company's proprietary Electronic Invoice Presentment and Payment platform facilitates the efficient exchange of documents and payments between suppliers and customers.

VersaPay has operations in Toronto, Montreal, Vancouver and Long Island, NY.

More information about VersaPay can be found at .

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.

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.


VersaPay Corporation
Bill McGill

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Date: 05/31/2012 - 14:23
Language: English
News-ID 1119922
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Firma: VersaPay Corporation
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