Assurance Investment Partners (AIP), the parent company of Louisville-headquartered Arison Insurance Services Inc., has acquired an equity stake in Veritas Merchant Services LLC, also of Louisville.
Veritas delivers a broad range of financial services for use by merchants and businesses, including credit and debit card payment processing and check authorization services. Veritas also provides and consults on a number of point-of-sale hardware, software and integrated solutions.
“Arison’s client base includes thousands of small to mid-size businesses throughout the state, some in remote locations in Kentucky,” said Dan Needham, AIP managing director. “As we spent time with our clients, it became apparent that there was a rather large gap in the quality of card processing services they were receiving, so we began looking for a partner to help deliver the level of service, support and price they were looking for.”
Veritas Merchant Services was founded in February 2010 by Stephanie Clements, who will remain CEO of the company.
Financial details have not been released.