VersaPay : Big 4 Accounting Firm Signs Agreement to use VersaPay’s AR Automation

Toronto, ON - January 23, 2018 - 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, is pleased to announce they have signed a 'Big 4' accounting firm to use ARC™ to automate their invoice-to-cash process.

As a thought-leader in accounting best practices, the firm recognized the benefits of providing customer self-service and process automation to increase customer satisfaction and streamline internal operations. As a leading audit firm, security was also a key consideration. It was crucial that the solution meet the highest standards of security and reliability.

'We are delighted to have won the confidence of one of the leading accounting, audit and advisory firms in the world,' stated Craig O'Neill, CEO of VersaPay. 'What better way to send a message to finance executives in all of the industries we serve that the time has come to deploy AR automation through ARC.'

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.

For additional information, please contact:

John McLeod Vice President, Marketing VersaPay Corporation 647-258-9406 [e-mail]

Babak Pedram Investor Relations Virtus Advisory Group Inc. 416-644-5081 [e-mail]

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. The specific metrics referenced in this release are non GAAP measures.

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.

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