Veracity Payment Solutions Continues Momentum Implementing Payment Solutions For Small And Medium-Sized Merchants

ATLANTA, July 9, 2013 /PRNewswire/ -- Veracity Payment Solutions, a leading privately held merchant acquirer and provider of payment transaction processing services, today announced it has seen continued growth and momentum over the past year as the company remains one of the fastest growing acquirers in North America, providing businesses nationwide with full service payment technology and solutions.

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Operating for six years, Veracity now processes more than $2.3 billion annually and has more than 15,000 merchant locations. The company also ended 2012 with a 30 percent year-over-year revenue increase, fueled in part by a $42 million round of funding from private equity firm Great Hill Partners, secured in the first quarter of 2012. In addition, Veracity acquired Lift Network Marketing, a mobile marketing platform and solutions company, in February 2013.

"The tremendous growth Veracity has seen over the past year validates that the market needs a solution like ours, servicing small and medium-sized merchants in the most customized and flexible way possible," said Joseph Cohane, CEO of Veracity. "Our success and growth results from having a strong leadership team at the helm, as well as the honest approach we bring to the marketplace with excellent customer service and fair pricing."

To support this growth, Veracity has expanded, opening up its sixth sales office location in Honolulu. The company is also planning to move its corporate headquarters by the end of 2013 due to expansion. With more than 110 employees nationwide, Veracity saw its employee headcount increase 54 percent from 2011 to 2012. Recent key executive appointments include Matt Thatcher, Executive Vice President of Businesses Development, Randy Siebold, Vice President of Associations and Integrated Partner Channel and Brian Merena, Senior Vice President of Bank Channel Sales, strengthening Veracity's leadership team.

Additionally, Veracity received industry recognition for its strong leadership team and commitment to customer service excellence, including the following:

• Stevie Award Contact Center of the Year – On February 25, 2013, Veracity's contact center organization was named Bronze winner for its customer service commitment and success.
• Hawaii Better Business Bureau Torch Awards – Veracity was honored on April 18, 2013 as the winner in the Large Business Category for cultivating a transparent organization, built within an integrity and ethical-based framework.
• Atlanta Business Chronicle CFO of the Year Awards – On May 31, 2013, Veracity's CFO Stephanie Sharp was named a finalist in the awards program, which recognizes the achievements of the very best CFOs in Atlanta.

About Veracity Payment Solutions
Veracity is a merchant acquirer and provider of payment transaction processing services, related software applications and other value-added products to primarily small and medium-sized merchants. The Company's vision is to devise and deliver emerging payment solutions that have traditionally been available to only larger financial institutions and businesses. Veracity processes more than $2 billion in payment volume annually for over 15,000 merchant locations nationwide. For more information, please visit www.veracitypayments.com.

SOURCE Veracity Payment Solutions