TORONTO, July 6, 2017 /CNW/ - VersaPay Corporation
(TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of
cloud-based invoice-to-cash solutions including electronic invoice
presentment and payment, automated accounts receivable, cash
application and collections management, today announced a strategic
relationship with Royal Bank of Canada RBC (TSX: RY). As part of
the agreement RBC will offer its business customers VersaPay
ARC™, an integrated accounts receivable solution, under
the RBC brand.
"RBC is always looking for new and innovative ways to help
clients use digital platforms to manage and grow their businesses,"
noted Greg Grice, EVP, Business
Financial Services at RBC. "The invoice-to-cash process is vital to
the success of all businesses. Integrating this offering into RBC's
leading cash management solutions, our business clients now have
another way to improve the customer experience and better manage
their receivables and cash flow."
RBC's relationship with VersaPay is unique amongst major banks
in Canada — the collaboration
between the Canadian Fintech and one of Canada's largest banks has provided commercial
businesses with a leading and robust cash management solution.
"We are delighted to collaborate with RBC to deliver this new
offering. With the bank's breadth and depth of banking and cash
management services, and an impressive roster of business
customers, RBC is in an ideal position to expand the use of ARC,"
commented Craig O'Neill, CEO of
VersaPay. "The RBC team has been a pleasure to work with as we
integrated our systems and prepared our market launch. We look
forward to serving many customers together."
As part of the agreement, RBC will offer the solution to its
business customers, with support from the VersaPay team. The bank
has already introduced the service to select clients with the first
RBC customer already signed. By signing up for the new service, RBC
clients can offer an enhanced customer experience, reduce manual
effort and operational costs, gain greater insight into their
customers' accounts, and get paid faster.
About VersaPay
VersaPay is a Fintech company and leading provider of
cloud-based invoice-to-cash solutions, enabling businesses to
provide a superior customer experience, get paid faster, streamline
financial operations, and dramatically reduce DSO and costs.
VersaPay ARC is the new standard in accounts receivable and
collections management with a customer self-service environment to
view invoices online, collaborate on inquiries and disputes, and
facilitate secure online payments (EFT/ACH and credit card).
Businesses gain access to a suite of powerful tools that enable
efficient collections, cash application and real-time insight into
accounts receivable. VersaPay ARC automatically reconciles payments
and account information through integrations with a wide range of
ERPs and accounting software providers.
More information about VersaPay is available 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