Best for
Mid to large-sized eCommerce, B2B, and POS-based businesses
Specializes in
Account receivable (AR) management, online and mobile payment processing, POS solutions
Pricing Summary
Setup Fee: $0
Monthly Fee: Undisclosed
Swipe Rate: 2.39% + $0.25
Keyed-in Rate: 2.99% + $0.20
Early Termination Fee : None
Contract Terms:
VersaPay is a Canadian-based financial tech company and merchant account provider that was founded in 2005.
The firm provides POS solutions and, more prominently, a comprehensive ARC software that’s designed to process a wide variety of customer payment methods virtually.
VersaPay Corporation is a Canadian financial tech company that provides electronic invoicing and merchant account services.
The primary service offered by VersaPay is its accounts receivable management software, which is intended to make it easier for a merchant’s clients to receive and pay bills online.
Payment processing company BluePay acquired VersaPay’s merchant services department in 2017 and currently administers the services and products provided to merchants by VersaPay. These payment processing services are only available for merchants based in the USA and Canada.
Head Quarters
Toronto, Ontario
Year Founded
2005
CEO
Craig O'Neill
Employees
130
Merchant Provider Risk Tolerance
Zero setup fee.
No early termination fee.
Month to month contract.
Best for mid size ecommerce, B2B, and point of sale businesses.
Domestic telephone support.
Does not disclose all important terms.
Public pricing is not available.
PCI compliance fee.
Customers must use ARC software.
Has a swiped rate and keyed in rate.
VersaPay offers its ARC software as a comprehensive solution for merchants to process customer payments electronically. Among the payment types accepted are credit and debit cards, virtual cards, ACH payments, checks, bank wire transfers, as well as Apple Pay and PayPal.
The ARC software is advertised to automatically integrate payment and sales data with a merchant’s ERP.
Onboarding your paying customers to the ARC software is required but advertised to be quick and simple.
Discloses All Important Terms
No
Public Pricing Available
No
VersaPay does not directly disclose its full pricing structure but we can consider Bluepay’s pricing structure since it is the provider of VersaPay’s payment processing.
It is likely that VersaPay charges a 2.39% plus $0.25 per transaction. Keyed-in transactions require a fee of 2.99% plus $0.20 per transaction.
VersaPay’s mobile payment solution is advertised to charge a 2.59% plus $0.15 fee per transaction.
If VersaPay takes on Bluepay’s PCI compliance fee then this would entail an additional annual fee of $99.
Pricing Model
Interchange PlusTiered PricingFlat Rate
Swiped Rate
2.39% + $0.25
Keyed-in Rate
2.99% + $0.20
Mobile Payment Rate
2.59% + $0.15
Virtual Terminal Rate
2.99% + $0.20
Monthly Fee
Undisclosed
Payment Gateway Fee
Undisclosed
Batch Fee
Undisclosed
Early Termination Fee
None
PCI Compliance Fee
$99
Equipment Lease Terms
Undisclosed
Address Verification Service (AVS)
Application Fee
Account Setup Fee
$0
Gateway Setup Fee
Undisclosed
Annual Fee
Undisclosed
Monthly Minimum
Undisclosed
Statement Fee
A standard contract with VersaPay is actually a month-to-month agreement that can be terminated at any time with no ETF.
This flexibility in VersaPay’s contracts is not too common among other merchant account providers and could serve to be very beneficial for some merchants.
VersaPay also offers POS equipment leases but rates and fees can vary significantly depending on the merchant’s size and industry.
Contract Length
Month-to-month
Early Termination Fee
None
VersaPay is not accredited with the Better Business Bureau but it maintains an “A+” rating on its profile with the BBB. The firm has received 0 complaints over the last 36 months.
Outside of its BBB profile, we were able to locate four negative reviews against VersaPay. Interestingly enough, three of those four reviews were cited as being written by former employees of the firm. Those three reviews criticize VersaPay for having a “disorganized” work environment.
The lack of negative reviews from merchant clients could indicate that the firm has a strong customer support team and/or a transparent sales process despite having potential internal complications.
BBB
NR
4.1 Stars / 9 Reviews
N/A
Yelp
No Reviews yet
Total Online Reviews
80+
Total Online Complaints
Lawsuits
None
If you're in the market for a merchant account provider, be sure to check out our user reviews, our merchant accounts guide and our top popular merchant provider picks