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NMI Review

Phillip Parker

I built this website to expose unethical credit card processors who charge excessive fees and trap unsuspecting people into absurd contracts. I support it by teaching business owners how to stop wasting money on processing fees. Contact me if you would like help permanently cutting your fees.

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NMI Overview

NMI Logo
5/5

Industries Served

  • ISOs
  • VARs/ISVs
  • Payment facilitators

Products & Services Offered

5/5
NMI Logo

Industries Served

  • ISOs
  • VARs/ISVs
  • Payment facilitators

Products & Services Offered

*Earning your trust is our highest priority. We live by the same values we expect to see from the companies we review: Honesty, transparency and respect. With this in mind we wish to inform you that we may in some cases, but not all, receive referral income if you choose a provider that we recommend. This income does not influence our strict editorial standards or our recommendations. Our mission is to provide you with the best information regardless of generating income.

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

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Find out how to successfully dispute customer chargebacks. You can contest chargebacks by supplying evidence that counters the customer’s chargeback claim and then submitting the following evidence to your merchant account provider. Learn more about how to fight chargebacks in this article.

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NMI Rates, Fees, and Costs

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.

NMI Rates, Fees, and Costs

Key Points

Swiped Rate
Variable
Keyed-In Rate
Variable
Early Termination Fee
Variable
PCI Compliance Fee
Variable
Equipment Lease Terms
Variable
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NMI Complaints & Customer Reviews

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.

NMI Complaints & Customer Reviews

Key Points

Total Online Complaints

<10

Live Customer Support

Yes

Most Common Complaint

N/A

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NMI BBB Rating Summary

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.

NMI BBB Rating Summary

Key Points

Product & Service Complaints

0

Billing & Collection Complaints

0

Advertising & Sales Complaints

0

Guarantee & Warranty Complaints

0

Delivery Complaints

0

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Truth In Marketing & Advertising

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

Truth In Marketing & Advertising

Key Points

Employs Independent Resellers

No

Advertises Deceptive Rates

No

Discloses All Important Terms

No

Our Opinion Of NMI

NMI Logo

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.

Phillip Parker - Creator of CardPaymentOptions.com
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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. 

We 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.
If your business processes over $20,000 per month, on average, in credit and debit card transactions, schedule a free introduction call by filling out the form below:

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    O% Markup + $0.08
    Per Transaction
    The highest rated processor on CPO. 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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