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Press release from Marketwire

VersaPay and Chase Paymentech Renew Partnership

Tuesday, October 02, 2012

VersaPay and Chase Paymentech Renew Partnership09:15 EDT Tuesday, October 02, 2012TORONTO, ONTARIO--(Marketwire - Oct. 2, 2012) - VersaPay Corporation (TSX VENTURE:VPY) ("VersaPay" or the "Company"), a leading Canadian financial technology company, today announced that it has renewed its payment processing partnership with Chase Paymentech.VersaPay CEO Bill McGill said, "We have enjoyed a strong partnership with Chase Paymentech since VersaPay's inception and we are pleased to be extending our relationship for four more years."About VersaPayVersaPay 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 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 www.versapay.com.About Chase PaymentechChase Paymentech, a subsidiary of JPMorgan Chase (JPMC), is a leading provider of payment processing and merchant acquiring. The company's proprietary platforms enable integrated solutions for all payment types, including credit, debit, prepaid stored value and electronic check processing; as well as digital, alternative and mobile payment options. Chase Paymentech has uniquely combined proven payment technology with a long legacy of merchant advocacy that creates quantifiable value for companies large and small. In 2011, Chase Paymentech processed 24.4 billion transactions with a value of $553.7 billion, including an estimated half of all global Internet transactions. In addition to the ability to authorize transactions in more than 130 currencies, the company provides business analytics and information services, fraud detection and data security solutions. In Canada, Chase Paymentech Solutions is headquartered in Toronto, Ontario. For additional information, visit www.chasepaymentech.ca.Forward-Looking and Other Cautionary StatementsThis 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 FURTHER INFORMATION PLEASE CONTACT: Bill McGillVersaPay CorporationCEO1-647-258-9378bill.mcgill@versapay.comwww.versapay.comNeither 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.