Arison Expands Services to Include Payment Processing
Parent company becomes equity partner in Veritas Merchant Services
Louisville, Ky.—Assurance Investment Partners (AIP), the parent company of Louisville-based Arison Insurance Services, Inc., has purchased an equity stake in Veritas Merchant Services, also located in Louisville.
Veritas Merchant Services offers payment processing services including, credit card, gift card, check and online payment portals. The company’s clients include Toby Tours and Window World in Louisville, as well as clients in Alabama, Tennessee and throughout the southeast.
The agreement, which was finalized in November, creates yet another value-added service that Arison Insurance Services, a full service employee benefits brokerage, can offer its clients. The agency added financial services, including 401(k), 403 (b) and IRA products to its portfolio earlier this year.
“Arison services a large number of small to mid-size businesses from our eight offices throughout the state, some in remote locations in Kentucky,” said Dan Needham, Managing Director, AIP. “We found that many of our clients have merchant services needs that were not being met, so we began looking for a valuable partner to assist us in providing those needs. Veritas has a similar approach to serving clients, which made it the right fit for Arison.”
Veritas Merchant Services was founded by industry veteran Stephanie Clements in February 2010 and has experienced rapid growth. Clements remains chief executive officer of the company.
“We have a transparent and customer-oriented approach with the businesses we meet. Arison and Veritas are parallel markets, and touch the same customers, so it made sense to partner and offer a full service package.” Clements said. “We look forward to continuing our reputation of excellent service to our business partners.”
“We are trusted advisers to our clients,” said Needham. “Our investment in Veritas is one more way we can help them achieve their business goals.”
About Arison Insurance Services, Inc.
Arison Insurance Services, Inc. is a full service employee benefits brokerage offering a comprehensive array of insurance and financial products for individuals and businesses. Arison serves as a trusted adviser and trusted partner to thousands of clients across the eastern United States through six regional offices in Kentucky and one in southern Indiana. Formerly a wholly-owned subsidiary of Anthem Insurance Companies, Arison was purchased by Assurance Investment Partners in July 2008. AIP’s goal is to make Arison the premier regional insurance brokerage firm east of the Mississippi River. For more information, visit www.arisoninc.com.
About Assurance Investment Partners (AIP)
AIP was established by insurance and acquisition executives in 2008. Founded by John Koko, Daniel Needham, Christina Rashid and Joseph “Jude” Thompson, AIP’s strategic plan is to create a nationally-branded, top 50 independent agency offering a broad spectrum of insurance and benefit products and services.
About Veritas Merchant Services
Veritas Merchant Services offers payment processing products including credit and debit card processing, gift card solutions, check verification, internet and phone payments, payroll cards and more for businesses of all sizes. Founded in February 2010, Veritas is an advocate between business owners, banks and credit card processing companies. The Louisville, Ky.-based company offers educational classes and luncheons regularly to inform customers about payment processes and steps they can take to keep their cost of doing business low. For more information, visit www.VeritasMerchantServices.com.
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