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NMI Review

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. I've since appeared in INC Magazine, The Atlantic, The Los Angeles Times, Detroit Free Press, Computer World Magazine, and several others. Contact me if you want help getting their hands out of your pockets.

 

 

NMI Overview

Rating

5/5
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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 201 Main St, Roselle, Illinois 60172, 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 zero complaints 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
Our Top Pick For 2020
O% Markup + $0.08 per transaction, month-to-month, no contract, no PCI Compliance fees, no batch fees, no statement fees, no downgrade fees, no junk fees of any kind.
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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.

some processors suck
some processors rock

NMI BBB Rating Summary

BBB Summary

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

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.

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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.

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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  • Readers Choice of 2020

    Fattmerchant
    Why Fattmerchant
    Fattmerchant has passed our review with flying colors due to a highly-reviewed support, and rock-bottom fees, a month-to-month service agreement, no cancellation fees, no hidden fees, and having wide variety of processing solutions. See our full Fattmerchant review. You can also visit Fattmerchant’s website, or call (866) 397-9826 for all the details on their services.

    Getting Declined?
    Are you getting declined because of your business type or credit history? Check out PaymentCloud for hard-to-approve merchant accounts, or call  (888) 506-7859.

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    Our Top Pick For 2020
    O% Markup + $0.08 per transaction, month-to-month, no contract, no PCI Compliance fees, no batch fees, no statement fees, no downgrade fees, no junk fees of any kind.
    See Who It Is
    Don't Guess
    We've Vetted The Best
    No commitment, low fees, and great support.
    It's a no-brainer from our viewpoint.
    See Who It Is
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