Veracity Payment Solutions has formed a processing alliance with American Savings Bank (ASB). According to the alliance, Veracity will be purchasing the merchant acquiring portfolio of ASB. It has also entered into a multi-year marketing agreement to offer services to ASB’s entire commercial portfolio through its extensive branch network.
Tim Schools, president of American Savings Bank, said: “We continue to introduce many market-leading products and services to our business customers, both large and small. With our extended hours and our BizFree checking product, our goal is to provide our business customers with best in class products and services.”
Joseph Cohane, chief executive officer of Veracity Payment Solutions, said: “The vast international processing experience of our executive team was a key factor in understanding the potential of this unique growth opportunity. By combining ASB’s market knowledge, customer base and aggressive leadership with Veracity’s product innovation and payment expertise, we create the perfect climate for both organizations to succeed.”
