VersaPay Adds Sporting Goods Giant Amer Sports to Growing Client List

SALT LAKE CITY and TORONTO, Feb. 21, 2019 /PRNewswire/ - VersaPay Corporation (TSXV: VPY) ("VersaPay"), 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 Amer Sports as the newest client to implement VersaPay ARC®.

Seeking an online 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, Louisville 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 Amer Sports

Amer Sports is a sporting goods company with internationally recognized brands including Salomon, Arc'teryx, Peak Performance, Atomic, Mavic, Suunto, Wilson and Precor.

The company's technically advanced sports equipment, footwear, apparel and accessories improve performance and increase the enjoyment of sports and outdoor activities. Amer Sports shares are listed on the Nasdaq Helsinki stock exchange.

Amer Sports' business is balanced through its broad portfolio of sports and products and a presence in all major markets. The offering of sports equipment, apparel, footwear, and accessories covers a wide range of sports, including tennis, badminton, golf, American football, soccer, baseball, basketball, alpine skiing, snowboarding, cross-country skiing, fitness training, cycling, running, hiking, and diving. In December 2017, Amer Sports own sales organization covered 34 countries.

In 2017, Amer Sports net sales totaled EUR 2,685.2 million. At the end of the year, the company's market capitalization was EUR 2,660.5 million and the Group employed 8,607 people. For more information visit www.amersports.com

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.

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SOURCE VersaPay Corporation

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