May 27, 2010

VersaPay announces management transition

TORONTO--VersaPay Corporation announces that the board of directors has appointed Bill McGill as Acting Chief Executive Officer. Mr. McGill was formerly the Chief Financial Officer of the Corporation.

He replaces former CEO Michael Gokturk, a founder of the corporation who has left the company after contributing to its strong growth and success, a release states.

Prior to joining VPY, Bill McGill was with TD Securities for 11 years, where he was a Managing Director in both investment banking and equity proprietary trading. Bill has an MBA from Queen's University and a BA (economics) from the University of Western Ontario. He is on the Advisory Board of the Power to Be Adventure Therapy Society and the Charitable Council of the Pediatric Oncology Group of Ontario.

VersaPay's financial technology enables businesses and consumers across Canada to accept and process credit, debit and gift card transactions. As a payment services and financial technology company serving more than 2,500 Canadian businesses, VersaPay, in conjunction with its partners, provides the hardware, technology, infrastructure and support services that businesses of all types require to accept and process electronic payments from their consumers and clients.

While its core business is payment processing services, VersaPay also provides enhanced financial technology solutions such as VersaEFT - the Company's proprietary Electronic Bill Presentment and Payment solution - which enables merchants and consumers to easily transact with one another.

The Company was recognized by PROFIT Magazine as Canada's Top Emerging Growth Company and was ranked Number 1 in Canada on the 2009 HOT 50 List. VersaPay is headquartered in Toronto, Canada and has operations in Vancouver and Montreal.



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