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VersaPay Grants Options to Employees

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^{Published in Business and Finance on Thursday, August 26th 2010 at 6:16 GMT by Market Wire}  

TORONTO, Aug. 26 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a provider of merchant credit, debit, gift and loyalty card payment processing and electronic funds transfer solutions, today announced that it has granted an aggregate of 550,000 stock options to Bill McGill in connection with his recent confirmation as CEO and appointment to the Company's board of directors, as well as certain other employees of the Company, pursuant to VersaPay's employee stock option plan. Each option is exercisable to acquire one common share at a price of $0.66 per option until August 25, 2015.

About VersaPay

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.

VersaPay is headquartered in Vancouver, Canada and has operations in Toronto and Montreal. To learn more about VersaPay, visit [ http://www.versapay.com ].

Neither 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.

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