Assurance Investment Partners Inc. has added merchant processing services to its offerings with its investment in Veritas Merchant Services LLC, an independent sales organization in Louisville, Ky.
Veritas will market its merchant services, including credit and debit card and check processing, to customers of Assurance's Arison Insurance Services Inc. unit, Assurance announced Dec. 8.
"We saw a need among our clients for quality card processing services, so we wanted to partner with an expert in the industry that could provide those services to our clients," Dan Needham, Assurance's managing director, said in an interview. "Veritas has a similar approach to serving clients, which made it the right fit for Arison."
Assurance's stake in Veritas is "significant," but not a majority share, Needham said. Assurance did not disclose terms of the deal.
