Best for
ISOs searching for a payment gateway that offers processing services, hardware and software for various types of businesses.
Specializes in
NMI specializes in providing payment processing hardware and software to ISOs in need of their services. The company is not a merchant account provider, but it sells its products to ISOs as well as value-added resellers.
Pricing Summary
Setup Fee: NA
Monthly Fee: NA
Swipe Rate: Variable
Keyed-in Rate: Variable
Early Termination Fee : Variable
Contract Terms:
NMI was founded in 2000 and it is currently headquartered in Schaumburg, Illinois.
NMI does not require an acquiring bank because the company is not a merchant account provider.
Vijay Shondi is the current CEO of NMI. The company does not partner with specific payment processors, but it does offer integration with most major POS and ecommerce systems.
NMI is actually not an ISO or payment processor at all. Rather, it is a company that offers payment processing hardware and software to various ISO clients in need of their products and services. NMI is not restricted to only offering its products to certain ISOs. Any of them can acquire their services and products with quick and easy integration.
NMI was founded in 2000 and the company’s CEO is Vijay Shondi. NMI is located in Schaumburg, Illinois.
NMI has a full commerce enablement platform for processing payments through multiple channels, including mobile, online or in-store. The company offers white-label capabilities which allow ISOs and their merchants to display their own branding.
Head Quarters
Schaumburg, Illinois
Year Founded
2001
CEO
Vijay Sondhi
Employees
1-374
Merchant Provider Risk Tolerance
Integrating gateway for most major POS and eCommerce systems.
Diversity in POS hardware.
Cross-region compliance.
No high-pressure marketing.
Fast setup time.
No information about contracts.
Does not set pricing, so cannot disclose the information.
Payment acceptance can change based on hardware/software.
No value-added services.
Not a merchant account provider, can be misleading.
Hardware & Software
NMI offers many options for hardware and software in order to meet their ISO customers’ needs for their merchants. They include:
Mobile devices - Using Bluetooth technology mobile payment capabilities pair with smartphones and tablets to allow for secure merchant payments anywhere.
Multi-lane devices - These payment processing devices work well for high-volume retail merchants that may need to capture signatures or place advertisements.
Countertop devices - Countertop payment terminals are available for merchants in retail, restaurant, or one of many other industries.
NMI utilizes software that includes direct API, iOS/Android, Windows and Linux. The company also offers payment gateway services for unattended payments which might take place in parking garages, or kiosks.
Value Added Services
NMI does not offer any additional value added services for ISOs. However, the company does provide a vast array of payment options, including gateways, POS systems and more.
NMI has continuously maintained PCI DSS Level 1 certification since 2005. The company was one of the first organizations to have cross-region compliance that was not a banking institution.
Supported Payment Types & Services
NMI has the ability to process multiple types of payments online, in stores, through mobile devices and even through self-service kiosks and pay stations. This includes EMV and contactless payments.
The supported payment type may vary based on the type of hardware and software being used. But NMI offers support for:
All major credit cards (Visa, Mastercard, Discover and American Express)
Debit cards
ACH payments
Check and echeck payments
Mobile wallets (Google Pay and Apple Pay)
Diner’s Club
China UnionPay
JCB
Discloses All Important Terms
No
Public Pricing Available
No
NMI does not set its own pricing and fees for its services. Those are determined by the ISO once the hardware and software have been purchased and sold to individual merchants. Pricing and fees can vary based on risk factors for each individual merchant.
Pricing Model
Flat Rate
Swiped Rate
Variable
Keyed-in Rate
Variable
Mobile Payment Rate
N/A
Virtual Terminal Rate
N/A
Monthly Fee
NA
Payment Gateway Fee
N/A
Batch Fee
N/A
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
Variable
Address Verification Service (AVS)
Unknown
Application Fee
N/A
Account Setup Fee
NA
Gateway Setup Fee
N/A
Annual Fee
N/A
Monthly Minimum
N/A
Statement Fee
N/A
There is no information online regarding contracts and terms for NMI. It is possible that both are variable and based on agreements that are made between the company and its ISO customers.
Contract Length
Variable
Early Termination Fee
Variable
ISOs who utilize NMI’s services will be able to get their merchants up and running in minutes with NMI’s payment facilitator enablement. This is designed to decrease the time it takes to get merchants to market resulting in almost instant onboarding. ISOs can create merchant accounts and their payment processing platform in one single step.
For ISOs in need of customer service and support, NMI lists a dedicated customer service phone number as well as a general phone number on its website. There is also a sales email address and a Help & Support page that ISO customers can utilize to get answers to frequently asked questions.
BBB Rating
NMI is not accredited by the Better Business Bureau, but the company does have an A+ rating on the BBB website. There has been one complaint listed in the last three years, and this complaint was related to an equipment delivery issue. NMI responded to the complaint and it was resolved to the customer’s satisfaction.
Other Online Reviews
There are currently no complaints about NMI’s products or services listed on other websites. This indicates that they operate above board and the company’s ISO customers are satisfied with their products and services.
There are also no outstanding class-action lawsuits or FTC complaints that have been filed against NMI.
BBB
N/A
N/A
No Reviews
Yelp
No Reviews
Total Online Reviews
Unknown
Total Online Complaints
Unknown
Lawsuits
Unknown
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