Founded in 2005, VersaPay (versapay.com) is a Canadian merchant account provider specializing in electronic invoicing. The company’s primary service is a proprietary accounts receivable management system, but it also offers payment processing for U.S. and Canadian merchants. 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 is headquartered at 214 King St W, #210, Toronto, Ontario M5H 3S6, Canada, and Craig O’Neill is listed as the CEO and director of VersaPay.

Key Points

  • Sales & Marketing: VersaPay does not appear to hire independently contracted sales agents and has received very few complaints about its sales team.
  • Costs & Contract: VersaPay appears to offer variable contract terms through BluePay.
  • Complaints & Service: VersaPay has received fewer than 10 public complaints.
  • BBB Rating: VersaPay has an “A+” rating with the Better Business Bureau and has received one complaint in the past three years.
  • Rates & Fees: How Merchants Got The Best Rates With VersaPay

VersaPay Products and Services

  • Debit and credit card processing
  • Virtual terminal
  • Online invoicing
  • Recurring billing
  • Accounting software integration
  • POS equipment


  • Retail
  • Mobile
  • E-commerce
  • MOTO
  • B2B

Response from VersaPay

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Sales & Marketing

Key Points - Sales & Marketing

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

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. As a point in its favor, the company does not appear to engage in deceptive advertising strategies in its official materials. Given this low number of complaints, we are awarding VersaPay an “A” in this category for the time being.

Response from VersaPay

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VersaPay Marketing Example


Costs & Contract

Key Points - Costs & Contract

Swiped Rate Variable
Keyed-in Rate Variable
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

The standard VersaPay terms and conditions detail a payment processing agreement that can be cancelled at any time without an early termination fee. It is likely that the merchant account referred to therein is a BluePay contract, but the pricing and other fees (including PCI Compliance fees and monthly minimum fees) of this contract are unknown at this time. It is probable, however, that rates and fees may be subject to variation depending on a merchant’s size, business type, and time in business. The page for VersaPay’s mobile payment solution advertises a per-transaction fee of 2.59% plus $0.15 per transaction but does not elaborate on any other costs or contract terms.

In addition to its mobile products, VersaPay does offer POS equipment, so merchants should be aware that any equipment leases that accompany their merchant services may have unique contract terms. At this time, there are no online complaints about VersaPay’s costs, indicating that most of the company’s clients are satisfied with the service they receive. If you have any specific knowledge of the standard VersaPay contract, please share that information in the comment section of this review.

Response from VersaPay

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Complaints & Service

Key Points - Complaints & Service

Total Online Complaints <10
Live Customer Support Yes
Most Common Complaint N/A

We are currently able to locate four VersaPay negative reviews, none of which accuse the company of being a ripoff or a scam. One complaint was posted in 2010 and mentioned difficulty with setup and undesirable pricing. The remaining three complaints have been posted by current or former employees and cite a disorganized, unsupportive work environment. Given the general lack of merchant complaints about the company, these internal issues do not appear to affect the service offered by VersaPay, and they are not being counted against the company. The VersaPay website offers email support and an FAQ section as well as phone numbers for different locations, and these channels seem to be successful at resolving merchant complaints in-house.

Response from VersaPay

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Key Points - BBB

Product & Service Complaints 0
Billing & Collection Complaints 1
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 0

VersaPay is not accredited with the Better Business Bureau and is currently showing a grade of “A+” based on one complaint in the last three years. This complaint was filed in relation to a billing or collection dispute and was successfully resolved. Given the company’s complaint total, we agree with the BBB‘s rating at this time.

Response from VersaPay

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versapay logo

VersaPay Bottom Line

VersaPay rates as a reliable merchant services provider according to our standards. The company is showing a very low complaint volume and does not appear to engage in deceptive advertising, although little specific information is currently available about its contract terms. VersaPay’s overall rating may be subject to change once more information is known about its pricing.

Phillip Parker is a former merchant services sales agent who believes the industry has been overrun by people who engage in fraud and deception in order to steal from hard working business owners. He created this website to help you avoid the bad players, save money on fees, and to get peace of mind with your merchant account. If you would like to help support his work, learn more about our cost reduction service. We can evaluate your statement, tell you exactly how much you're overpaying, and then help you dramatically reduce your fees with your current credit card processor. Looking to switch instead? See our list of the best merchant account providers.

Schedule a Consultation with Phillip

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