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Veracity Payment Solutions Inc., an Atlanta-based merchant-services provider, has acquired QCR Holdings Inc.'s merchant-acquiring business, resulting in an after-tax third-quarter gain of roughly $3 million for QCR. The portfolio includes roughly 3,600 merchant relationships, according to QCR, a Moline, Ill.-based multibank holding company. "The escalating risk-management, compliance and technology requirements of the credit card industry have made it increasingly difficult for our company to generate appropriate operating margins in this business given the size of our merchant portfolio," Todd A. Gipple, QCR chief operating officer and chief financial officer, said in a statement. "By selling our merchant credit card acquiring business to Veracity," QCR's merchant clients can choose from among additional products, services and technology provided by Veracity Payment, he said. QSR says Veracity has hired its merchant-acquiring sales and servicing team. QCR and Veracity Payment representatives could not be reached for comment by CardLine deadline
