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VersaPay Review: Is It the Right AR Platform for Your Company?

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Maintained Since: November 18, 2013

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All mentions of rate and fee costs are estimations based on publicly available information and client feedback. Actual costs may vary based on a variety of factors unique to your business.

VersaPay
Rating
A
4.5/5
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Pros

User-friendly interface
Customer payment portal
Real-time tracking
Cloud-based platform
Improved cash flow

Cons

Payment limits
Learning curve
Limited customization
Reporting limitations
Integration issues

Overview

In this VersaPay review, we’ll take a clear look at their payment processing and accounts receivable solutions, including point-of-sale (POS) systems, mobile payment tools, and e-commerce features. We’ll highlight which types of businesses may benefit most, while also examining customer reviews to show common trends and concerns. In addition, we’ll cover pricing, contract terms, and service details so you know what to expect. By the end, you’ll have the insights needed to decide whether VersaPay is the right fit for your company’s payment processing and AR automation needs.

About VersaPay

Screen Capture of VersaPay Homepage
VersaPay Homepage

Founded in 2005, VersaPay is a Canadian merchant account provider specializing in electronic invoicing services. In February 2017, BluePay acquired VersaPay’s entire merchant services portfolio, meaning that VersaPay merchants will use BluePay’s products and services to accept credit card payments. VersaPay itself was acquired in 2020 by Great Hill Partners, though the company is still operating under its own brand. VersaPay then acquired fintech company DadeSystems in 2022.

Products & Merchant Services

Payment Processing

VersaPay primarily offers an accounts receivable management system but also provides payment processing services for U.S. and Canadian merchants. Their system integrates with POS systems, e-commerce platforms, phone payments, and mobile payment options.

Mobile Payment Solutions

VersaPay offers mobile payment services to support businesses requiring transaction flexibility. This service allows for card transactions via mobile devices.

E-Commerce Services

VersaPay provides secure online payment processing services to address the increasing importance of e-commerce.

Virtual Terminal Services

For businesses processing transactions via mail or phone, VersaPay offers a virtual terminal service. This feature allows secure manual entry of card details into an online system.

Integrated Business Management Tools

Beyond payment processing, VersaPay offers integrated software solutions to streamline business operations. These tools include functionalities for payment processing, inventory management, CRM, and data analytics.

Customer Reviews & Sentiment

Low Complaint Total

We have located only a handful of negative VersaPay reviews, with no allegations suggesting the company is a scam or ripoff. One older complaint from 2010 highlighted setup difficulties and pricing concerns. Other criticisms, primarily from past or present employees, revolved around a disorganized and unsupportive work environment. However, these internal issues do not seem to impact VersaPay’s services to merchants, which maintains a strong reputation. Your experiences and reviews of VersaPay are valuable to us; please feel free to share them in the comments below.

Versapay Services Lawsuits

Our research reveals no current class-action lawsuits or Federal Trade Commission (FTC) complaints against Versapay. Clients who are dissatisfied and prefer a non-litigious resolution should consider reporting their concerns to the appropriate supervisory organizations.

Industry Scores & User Ratings

Online Ratings Summary
PaymentPop1
BBB RatingN/A

PaymentPop Rating for VersaPay

Negative Feedback

We are having trouble with VersaPay. Through the automated payments, they have charged us three times for our annual service with OnSolve. We have attempted to connect with VersaPay through their website, chat and phone number to no avail.

Positive Feedback

There are no positive reviews published about VersaPay on the PaymentPop website.

VersaPay BBB Rating

VersaPay is not accredited with the Better Business Bureau and is currently showing a grade of no rating based on 0 complaints in the last 36 months, though it previously had an “A+”. It appears the main issue for the BBB is that they have the company’s old address and VersaPay did not respond to correspondence. Because of that, we believe the former grade of “A+” is still valid. VersaPay has not received any negative informal reviews either.

An “A” Performance

Given the company’s complaint total, we agree with the BBB‘s rating at this time. Business owners should note, however, that there are reasons to be skeptical of BBB ratings.

Processing Rates & Fees

Month-to-Month Contract

VersaPay offers a payment processing agreement that allows for cancellation at any time without incurring an early termination fee, highlighting a flexible approach to service commitment. This agreement potentially aligns with a BluePay contract, as client feedback on BluePay indicates a fee structure of 2.39% plus $0.25 per transaction for standard payments and 2.99% plus $0.20 for keyed-in transactions, alongside an annual PCI compliance fee of $99.

VersaPay’s mobile payment solution is advertised with a transaction fee of 2.59% plus $0.15, though detailed information on additional costs or terms is not provided. It’s important for merchants to note that rates and fees might vary based on the business’s size, industry, and operational history.

Comprehensive Payment Solutions

Beyond online invoicing and mobile payment solutions, VersaPay also supplies POS equipment. Business owners should consider the terms associated with any equipment leases integrated with their merchant services, as these may have distinct conditions. The absence of online complaints regarding VersaPay’s pricing suggests that the company’s rates are potentially competitive with some of the most affordable merchant accounts available. If you possess detailed knowledge regarding VersaPay’s standard contract terms, you are encouraged to share this information in the comments section below.

VersaPay point of sale
VersaPay’s diverse range of payment processing services includes point-of-sale systems

Employee Reviews & Sales Practices

Outside Sales Team

VersaPay appears to rely on strategic partnerships and a team of outside sales agents to market its services. We have found only one negative VersaPay review that mentions unethical tactics by the company’s sales team, and in this case, the merchant experienced unexpected difficulties with setup and an undisclosed termination fee in 2010.

No Deceptive Quotes

As a point in its favor, the company does not appear to engage in deceptive advertising strategies in its official materials. Given VersaPay’s low number of complaints, we are awarding VersaPay an “A” in this category for the time being. If you are concerned that VersaPay is overcharging you, we recommend seeking a third-party statement audit to eliminate hidden fees.

VersaPay Competitors

Compare VersaPay to competitors that earned top marks.

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Bottom Line

VersaPay rates as a reliable credit card processing provider according to our standards. The company maintains a very low complaint volume and does not appear to engage in deceptive advertising practices. However, there is limited specific information available regarding its contract terms, which leaves some aspects of its service in question. As more information about VersaPay’s pricing becomes available, its overall rating may be subject to change.

For businesses seeking QuickBooks-integrated merchant accounts, VersaPay may be an appealing option. To ensure they are getting the best deal, we encourage business owners to compare VersaPay’s offerings with those of other top-rated providers. By conducting thorough research and evaluating multiple options, businesses can make well-informed decisions that align with their financial and operational needs, ultimately securing a reliable and effective credit card processing solution.

Read Actual User Reviews

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All user reviews have been moved to our partner, PaymentPop.com

Contact VersaPay

Contact & Customer Support
CEOCarey O'Connor Kolaja
Headquarters18 King Street East Toronto, ON, M5C 1C4
Sales(866) 999-8729
Solupay(888) 765-8729
2CP(800) 325-4021
ChargeLogic(877) 292-2520
Additional Support ChannelsOnline Contact Form
Websiteversapay.com