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NMI Review

Phillip Parker
Phillip Parker

I was tired of watching unethical merchant services companies take advantage of unsuspecting business owners, so I built this website and wrote hundreds of reviews to expose their shady business practices.

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NMI Overview

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Rating

5/5
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Website
(800) 617-4850

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  • Helpful Tech Group:
    "Hey there, I read your article... and am trying to understand how does this company have a A+ rating on the BBB, yet they are not even listed..." Read More
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Rating:
5/5
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View Rates & Fees
(800) 617-4850

Most Recent Comment

  • Helpful Tech Group:
    "Hey there, I read your article... and am trying to understand how does this company have a A+ rating on the BBB, yet they are not even listed..." Read More
    Reply Leave Your Own Comment
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Specializing in Payment Software and Hardware

Founded in 2000, NMI (nmi.com) is a payment gateway provider that offers payment processing hardware and software for most business types. The company is not a merchant account provider; rather, it primarily sells its suite of products to ISOs and value-added resellers. NMI is not partnered with any specific payment processor, but it does offer out-of-the-box integration with most major proprietary point-of-sale and e-commerce systems.

NMI Location and Ownership

NMI is headquartered at 1450 American Lane, Suite 1200, Schaumburg, Illinois 60173 and does not require an acquiring bank. Vijay Sondhi is the CEO of NMI.

NMI Review Table of Contents

  • Costs & Contract: NMI offers variable fees to ISOs.
  • Complaints & Service: NMI has received fewer than 10 public complaints.
  • BBB Rating: NMI currently has an “A+” rating with the Better Business Bureau and has received one complaint in the last three years.
  • Sales & Marketing: NMI does not hire independent sales agents and has not received any complaints about its sales practices.
  • Rates & Fees: How Merchants Got The Best Rates With NMI
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NMI Rates, Fees, and Costs

NMI Rates, Fees, and Costs

Cost Summary

Swiped Rate Variable
Keyed-In Rate Variable
Early Termination Fee Variable
PCI Compliance Fee Variable
Equipment Lease Terms Variable

NMI Contract Terms

There is no publicly available information about the standard NMI contract at this time. NMI does not market directly to merchants, so it is unlikely that a business owner would ever enter into a direct contract with NMI. NMI’s agreements with ISOs and other resellers should not ultimately impact the pricing that a merchant receives. Merchants will likely only interact with NMI’s hardware and software offerings, which should not come with any contractual obligations imposed by NMI.

No Red Flags

The total absence of complaints about the company’s contract terms merits an “A” in this category, but this is primarily due to the fact that it’s not a merchant-facing product. Merchants who believe that NMI’s products would be a good fit for them are encouraged to pair their NMI payment gateway with one of the cheapest merchant accounts.

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NMI BBB Rating Summary

BBB Summary

Product & Service Complaints 0
Billing & Collection Complaints 0
Advertising & Sales Complaints 0
Guarantee & Warranty Complaints 0
Delivery Complaints 1

Clean Complaint Record

NMI has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has received one complaint in the past three years, relating to a delivery issue. The complainant describes a failure to received a product ordered from a third-party merchant who utilizes NMI as their payment gateway. NMI has responded, clarifying that the issue is with the third-party vendor who has not delivered the item. The company also has not received any informal reviews.

An “A” Performance

Given the company’s clear complaint record, we agree with the BBB’s rating at this time. Merchants should note, however, that there are good reasons to be skeptical of the BBB’s rating system.

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Truth In Marketing & Advertising

Key Points

Employs Independent Resellers No
Advertises Deceptive Rates No
Discloses All Important Terms No

Inside Sales Team

NMI does not market directly to merchants and appears to rely on a combination of traditional advertising and strategic partnerships to market its services. There is no evidence at this time indicating that the company employs independent sales agents, and we are unable to locate any NMI complaints that report unethical behavior by the company’s sales staff.

No Misleading Quotes

NMI does not appear to engage in any deceptive advertising strategies in its official materials. If you suspect that NMI is charging you undisclosed fees, we recommend seeking a third-party statement audit to eliminate hidden charges.

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Sales & Marketing Example

Our Opinion Of NMI

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A Well-Regarded Payment Product Supplier

According to all available information, NMI rates as a dependable hardware and software provider. Merchants should not typically interact directly with NMI, so we do not expect to receive a large amount of merchant feedback regarding the company in the future. Even when dealing with companies that rate highly by our standards, we urge merchants to thoroughly examine the terms of any contract they are given and to compare their pricing to top-rated merchant account providers.

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Why I'm Qualified to Write About Credit Card Processing

I’m a small business owner who previously worked in the credit card processing industry. I started this blog in 2009 to help other business owners by exposing credit card processors that engage in unethical marketing, rate and fee trickery, and fine-print-contract schemes. Over the last decade, I’ve reviewed hundreds of merchant services providers which has helped to educate over 5 million businesses on the nuances of credit and debit card acceptance. I’ve appeared in the New York Times, Los Angeles Times, Inc. Magazine and a host of other publications to offer insight on the subject of card acceptance. 

I offer merchant account and credit card processing consultation for the following needs:

  • Selecting the right credit card processing services for your business.
  • Reducing credit card processing fees with your current merchant account provider.
  • Negotiating credit card processing fees when changing merchant accounts.
  • Strategies for reducing and recovering funding holds and chargebacks.

 

Schedule a call with me today!

 

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Hey there, I read your article… and am trying to understand how does this company have a A+ rating on the BBB, yet they are not even listed as a profile on the BBB.

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Hi there, the rating is link to the profile which can be found here: NMI BBB Rating.

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