Oct 27 , 2010

VersaPay signs five-year EFT contract renewal with Brewers Distributor

TORONTO--VersaPay Corporation, a provider of merchant credit, debit, gift and loyalty card payment processing solutions, has signed a five-year contract renewal to provide Brewers Distributor Ltd with VersaPay EFT, VersaPay's proprietary Electronic Funds Transfer (EFT) platform.

Under the terms of the contract, VersaPay will provide BDL, a joint venture company owned by Labatt Breweries of Canada and Molson Breweries, with the Company's business-to-business EFT payment solution for BDL customers. BDL provides wholesale distribution of beer and the collection of returnable, refillable and recyclable beer containers. Its customer base is composed of restaurants, bars and hotels located within the four Western Canadian Provinces, Northwest Territories and the Yukon.

"Extending our relationship with BDL, our longest standing VersaPay EFT customer, validates the strength of our EFT platform and the high-quality of customer service we are committed to providing," said Bill McGill, CEO of VersaPay. "We look forward to working with BDL to further extend our EFT service to more of the 9,000 customers they serve across Western Canada."

VersaPay's electronic funds transfer (EFT) platform enables money transfers between any Canadian bank accounts.  VersaPay EFT can help businesses increase profits, shorten accounts receivable cycles, and improve payment efficiency.

Specific terms of the deal were not disclosed.

VersaPay 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 over 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.






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