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VersaPay Corp
Symbol VPY
Shares Issued 43,340,851
Close 2019-02-20 C$ 1.44
Market Cap C$ 62,410,825
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VersaPay adds Amer Sports as VersaPay ARC client

2019-02-21 07:58 ET - News Release

Mr. Craig O'Neill reports

VERSAPAY ADDS SPORTING GOODS GIANT AMER SPORTS TO GROWING CLIENT LIST

Amer Sports is the newest client to implement VersaPay Corp.'s VersaPay ARC.

Seeking an on-line portal that would allow thousands of customers of all sizes to manage and pay invoices, Amer Sports has elected to implement VersaPay ARC as its central receivables management platform for its Wilson Sporting Goods Co. and the winter and outdoor brand. Initially, the company had planned to develop its own internal payment portal to integrate with clients, however found VersaPay's technology to allow for faster implementation at a fraction of the cost. Owning major brands including Salomon, Atomic, Lousville Slugger and Wilson, the company will initially roll out ARC across its North American and Canadian operations with plans for additional global expansion in the future.

"This was an important initiative for our company as we required a highly scalable solution that offered the payment portal but also had extensive functionality well beyond that to support the complexities of our business," said Scott Chase, director of credit at Amer Sports. "We evaluated three other solutions in the market, however, it became clear that VersaPay had already established a fully functional, PCI compliant and industry-leading solution."

"Amer Sports is a truly exciting opportunity for VersaPay as we expect it to become one of many global initiatives in the future," said Craig O'Neill, chief executive officer of VersaPay. "With a large number of brands under their umbrella, having a consistent and easy-to-use payment platform such as ARC is essential in creating an easy-to-use payment process for their staff and a one-stop shop for all customers."

About VersaPay Corp.

VersaPay is a financial technology 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 on-line, collaborate on inquiries and disputes, and facilitate secure on-line 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.

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