Net­work Mer­chants (NMI)

NMI pro­vides pay­ments en­able­ment tech­nol­ogy that em­pow­ers ISOS, VARS, ISVS and pay­ment fa­cil­i­ta­tors to of­fer their own branded pay­ment gate­way ser­vices, all with­out hav­ing to build and main­tain the tech­nol­ogy or pay­ment plat­form them­selves. Our omni-chann

ISO & Agent - - PAYMENT GATEWAY | VISIONARIES AND Q&A - By Roy Banks, CEO, NMI

What’s the dif­fer­ence be­tween a tra­di­tional pay­ment gate­way and NMI’S pay­ments en­able­ment tech­nol­ogy?

The big­gest dif­fer­ence be­tween work­ing with a tra­di­tional pay­ment gate­way and us­ing NMI’S pay­ments en­able­ment tech­nol­ogy is con­trol. When an ISO en­ters into a re­seller agree­ment with a tra­di­tional pay­ment gate­way, they give up con­trol over their mer­chant re­la­tion­ships. This is be­cause the pay­ment gate­way owns the con­trac­tual re­la­tion­ship with the mer­chant, which leaves the ISO, who brought the re­la­tion­ship, out of the pic­ture. Also, be­cause the ISO is forced to pro­mote the pay­ment gate­way’s brand, they lose the op­por­tu­nity to pro­mote their own brand and ser­vice value to their cus­tomers.

When an ISO uses NMI’S pay­ments en­able­ment tech­nol­ogy, they have an en­tirely dif­fer­ent ex­pe­ri­ence. The ISO has to­tal con­trol and own­er­ship over their mer­chant re­la­tion­ships, as well as the abil­ity to pro­mote and build their brand’s eq­uity. NMI is fo­cused on build­ing se­cure, in­dus­trylead­ing pay­ments tech­nol­ogy that ISOS can brand and sell to their mer­chant cus­tomers as their own, all with­out the bur­den and ex­pense of build­ing, op­er­at­ing and main­tain­ing the plat­form. This frees them to do what they do best—pro­vide top-notch pay­ment ser­vices to their mer­chants. This is also a gamechanger for ISOS who want to be the gate­way them­selves, but don’t want to shoul­der the fi­nan­cial and tech­no­log­i­cal de­mands that come along with it.

Why would any ISO want to be a re­seller of a gate­way when they could be the gate­way them­selves with pay­ments en­able­ment tech­nol­ogy?

We ask our­selves this same ques­tion ev­ery­day. Most ISOS in­vest a con­sid­er­able amount of time, money and re­sources into build­ing their busi­ness, so why would they want to re­sell and help build the brand, and busi­ness, of some­one else’s pay­ment gate­way? Es­pe­cially when that pay­ment gate­way is com­pet­ing against them by sell­ing di­rect to mer­chants, and in some cases, even poach­ing the ISO’S mer­chants. NMI has a long-stand­ing pol­icy that we do not com­pete with our ISO part­ners and we do not sell di­rect to mer­chants. In­stead, we fo­cus on en­abling our part­ners to of­fer their own branded pay­ment gate­way ser­vices to their mer­chants.

What are the ben­e­fits of pay­ments en­able­ment tech­nol­ogy?

Once again, we don’t sell di­rect to mer­chants. So un­like work­ing with a tra­di­tional pay­ment gate­way, us­ing pay­ments en­able­ment tech­nol­ogy means you’ll never have to worry about us com­pet­ing against you for mer­chant or gate­way ser­vices. This is our com­mit­ment to our part­ners and a long-stand­ing phi­los­o­phy at NMI. Our fo­cus is on build­ing in­dus­trylead­ing pay­ment tech­nol­ogy that en­ables our ISO part­ners to pro­mote and sell their own branded pay­ment gate­way.

Our ISO part­ners also ben­e­fit from our R&D and un­re­lent­ing fo­cus on se­cu­rity and in­no­va­tion that we con­tin­u­ally in­vest into our pay­ments en­able­ment plat­form. This in turn em­pow­ers our part­ners to con­fi­dently pro­mote their own pay­ment gate­way

as be­ing highly se­cure, re­li­able and fea­ture rich. Some of the key ben­e­fits of the NMI pay­ments en­able­ment plat­form are its PCI-DSS com­pli­ance, geo­graphic re­dun­dancy, sup­port for more than 150 pro­ces­sors and in­te­gra­tions to hun­dreds of shop­ping carts and third-party so­lu­tions.

An­other large ben­e­fit is hav­ing the abil­ity to set the mar­gins for the prod­ucts and ser­vices of­fered to mer­chants. Ad­di­tion­ally, when it comes time for the mer­chants to pay, our flex­i­ble billing plat­form helps col­lect pay­ments. The ISO just needs to de­cide if they want to debit their mer­chants di­rectly, or if they want to bun­dle their ser­vices, in which case we can debit their ac­count in­stead.

Why is brand­ing my pay­ment gate­way so im­por­tant?

Brand­ing your pay­ment gate­way pro­vides you with an op­por­tu­nity to strengthen your mer­chant re­la­tion­ships and re­in­force your own brand. It ul­ti­mately al­lows you to ex­pand your prod­uct of­fer­ing to your mer­chant cus­tomers and elim­i­nates the need to bring a con­fus­ing 3rd party into the mix. By do­ing this, you can dif­fer­en­ti­ate your busi­ness, win more mer­chants and cre­ate loy­alty across your mer­chant base.

What brand­ing op­tions are avail­able on the pay­ments en­able­ment plat­form?

There are only a few gate­ways out there that of­fer par­tial brand­ing op­tions, but in or­der to be wor­thy of the name pay­ments en­able­ment, we knew that our tech­nol­ogy had to be com­pletely brand­able. We rec­og­nize that the pay­ment gate­way is an ex­ten­sion of the ISO’S brand, which is why our brand­ing op­tions cover ev­ery as­pect of the gate­way—from up­load­ing your logo, to chang­ing the color scheme and font to cus­tomiz­ing the URL to match your busi­ness—we know that these are ab­so­lute musthaves. Be­yond that, we also pro­vide brand­ing con­trol over the lo­gin por­tal, APIS, billing state­ments and sys­tem-gen­er­ated emails.

Aside from brand­ing the tech­nol­ogy it­self, we pro­vide our part­ners with un­branded mar­ket­ing col­lat­eral that they can eas­ily in­sert their logo into and change the color schemes on and pass on to cur­rent or prospec­tive mer­chants.

How do I choose the right pay­ment gate­way part­ner for my busi­ness?

Not all ISOS are cre­ated equal, so it’s im­por­tant to find a pay­ment gate­way part­ner that’s the right fit for your busi­ness. Maybe you’re an ISO who’s look­ing for a part­ner that en­ables you to sup­port not only your mer­chants, but also your sales agents and sub-isos. Or maybe you’re an ISO whose mer­chant base is go­ing to need a lot of hand­hold­ing to get them off the ground. What­ever your pain points are, make sure your part­ner is able to han­dle them.

NMI’S pay­ments en­able­ment plat­form for in­stance, is one of the only plat­forms out there that is built on a multi-tiered hi­er­ar­chy, which en­ables ISOS to man­age all of their sales agents or sub-isos un­der one ac­count and also al­lows mer­chants to board mul­ti­ple MIDS on a sin­gle gate­way ac­count.

In ad­di­tion, NMI part­ners are as­signed a ded­i­cated Part­ner De­vel­op­ment Manger that is there to help them get up and run­ning and are a re­source for any­thing that comes up along the way. Our Part­ner De­vel­op­ment Man­agers cou­pled with our amaz­ing sup­port team and our in-depth train­ing ma­te­ri­als, rang­ing from video tu­to­ri­als to de­tailed guides, en­sures they have the sup­port and ex­per­tise they need to suc­ceed as a pay­ment gate­way provider.

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