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.

Virtual Terminal Pricing

In addition to its storefront payment processing services, NMI also dedicates a portion of its website that advertises its virtual terminal service. However, pricing on either of those services is not disclosed. Additional rates and fees, including gateway fees, technical support fees, and batch fees may apply to these e-commerce services. The company also provides merchants with shopping cart integrations with over 175 different options.

Level 2 and Level 3 Processing Services

In addition to its traditional merchant services, NMI also advertises that it provides level 2 and level 3 processing for b2b and b2g transactions. Level 2 and level 3 processing rely upon different interchange rates than traditional consumer credit transactions. Accommodating those rates requires different payment processing technology from a merchant account provider to transmit the amount of data required to facilitate the transactions. These services are reserved for b2b and b2g purchases that utilize corporate credit cards.

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.

No Public Complaints

We are currently unable to locate any NMI complaints that accuse the company of being a ripoff or a scam. This seems to indicate that NMI employs a proactive and available customer support team. However, we would not expect the company to have many complaints because it does not sell to small business owners.

NMI Lawsuits

We have not found any outstanding class-action lawsuits or FTC complaints filed against NMI. Dissatisfied merchants who wish to pursue a non-litigious course of action against the company should consider reporting it to the relevant supervisory organizations.

NMI Customer Support Options

The NMI website provides a dedicated customer support phone number in addition to general phone and email options. We will award NMI an “A” rating in this category, and the company’s current customer support options are on par with top-rated customer service processors.

Clean Complaint Record

NMI has an “A+” rating with the Better Business Bureau and is not BBB accredited. The company has not received any complaints in the past three years. It 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.

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.