NMI has been serving ISOs, independent software vendors (ISVs), value-added resellers (VARs), and other fintech innovators with payment enablement technology since the year 2000. Based in Roselle, Ill., the company now has branches in New York City; Pleasant Grove, Utah; and Bristol, U.K. The firm processes more than $50 billion in payments annually and supports more than 1,250 technology partners and 128,000 merchants across the retail, transportation, hospitality, medical, nonprofit, parking and vending verticals.
The company's website states NMI's mission is to use its expertise, "to enable more payments, in more ways, and more places." It further explains how NMI provides clients with, "the freedom to focus on what they do best, liberating them from restricted payment solutions, and giving them access to the latest payment technology now and in the future."
NMI prides itself on providing tools and technologies that help ISO, ISV, and VAR partners offer merchants a way to create a seamless payment experience for customers. The NMI product set includes everything for the merchant to offer payments across multiple points of engagement, including retail, ecommerce, mobile and unattended channels. In 2015, NMI also launched its FACe platform for the payment facilitator market. With FACe, payfacs can extend NMI's single-source processing, secure sign-up, gateway, accounting, reporting, security, redundancy, and chargeback management functionality to their own ISO, ISV, and VAR networks, the company noted.
In 2017, NMI announced that through separate private equity relationships with Great Hill Partners and Francisco Partners, new capital would enable the firm to continue expanding core capabilities and customer service levels. Accordingly, in 2018, NMI performed a strategic acquisition of omnichannel payment gateway and EMV solutions provider Creditcall. Following the acquisition, NMI also appointed Vijay Sondhi as the firm's new CEO.
Sondhi shared his enthusiasm about the opportunity in a formal release. "I am honored to become NMI's next CEO," he said. "With the core NMI platform now combined with Creditcall, we have a tremendous amount of opportunity in front of us to deliver true omnichannel solutions to our partners and continue to drive payment innovation more broadly." The acquisition set several more milestones into motion for NMI, including launch of a new brand
mark, which according to an NMI post, was "aimed to visually reflect the fusion of what used to be two separate payments powerhouses – NMI and Creditcall."
The company recounted how the new mark was designed to resemble an infinity symbol – incorporating the three letters of the parent name – and represented NMI's enablement services, "by unifying all payments channels: in-store, mobile, online and self-service." NMI also released its Unified Commerce Enablement Platform in 2018, describing it as a one-stop-shop of commerce capabilities. Sondhi said the platform, "places our partners in a league of their own" with the ability to offer "a plethora of payment device certifications, along with unmatched shopping cart integrations and processor connections."
In 2019, NMI launched Collect.js, a java script library, enabling NMI partners to help merchants collect sensitive payment information via websites using a simple, easy-to-install, PCI-compliant script. According to Sondhi, NMI's evolution has helped to set the company apart from other providers. "Over the past year, NMI has brought together the industry's leading ecommerce white-labeled payment gateway (NMI) and card-present gateway (Creditcall) to expand the breadth of solutions we offer, all on one platform, forming a unified commerce enablement solution that others in the industry simply don't have," he said.
Furthermore, Sondhi indicated NMI will continue to release technologies that help the company's ISO, ISV, VAR, and payfac partners ensure merchants are equipped for today's new era of commerce. "Our industry-leading technology provides our customers with a multifaceted platform for every point of payment, with one token stored on one database, all while giving them access to our unattended and payfac enablement solutions," Sondhi said.
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