As the world continues to shift towards cashless transactions, payment gateway providers have become an essential component of modern commerce. Among the top players in this field is NMI, which has been providing payment gateway solutions since 2001.
NMI was founded by Roy Banks, who had previously worked for Transaction Network Services (TNS). TNS was a pioneer in the payment gateway industry, having introduced the first electronic payment gateway in 1985. Banks worked for TNS for over a decade before founding NMI as a spin-off company.
NMI quickly established itself as a leading payment gateway provider, offering a range of services that catered to the needs of various merchants. The company’s focus on innovation and customer service helped it grow rapidly, and it soon became a preferred choice for many businesses.
Today, NMI is owned by Francisco Partners, a private equity firm that specializes in technology investments. Francisco Partners acquired NMI in 2017, and since then, the company has continued to expand its reach and capabilities.
NMI's Competition: ACI Worldwide and Fiserv
NMI operates in a highly competitive market, with several other payment gateway providers vying for market share. Two of its biggest competitors are ACI Worldwide and Fiserv.
ACI Worldwide was founded in 1975 and has since grown into a global provider of payment solutions. The company offers a range of services, including payment processing, fraud detection, and authentication. ACI Worldwide is known for its expertise in real-time payments and has partnerships with major financial institutions around the world.
Fiserv, on the other hand, is a leading provider of technology solutions for the financial industry. The company offers a range of services, including payment processing, digital banking, and risk management. Fiserv has a broad customer base, including banks, credit unions, and other financial institutions.
Despite the competition, NMI has managed to maintain its position as a leading payment gateway provider. The company’s focus on innovation and customer service has helped it differentiate itself from its competitors.
NMI's Key Features and Services
NMI offers a range of payment gateway services that cater to the needs of various businesses. Some of its key features include:
Multi-channel payment processing: NMI supports various payment methods, including credit/debit cards, ACH, eCheck, and digital wallets.
Advanced fraud prevention: NMI uses advanced fraud prevention tools, including AI and machine learning, to detect and prevent fraudulent transactions.
Developer-friendly APIs: NMI offers a range of APIs that developers can use to integrate payment processing into their applications.
White-label solutions: NMI offers white-label solutions that allow businesses to customize the payment gateway to match their branding.