NMI

Embedded Payments

White-label embedded payments platform enabling ISOs, ISVs, and PayFacs to monetize payments and merchant lifecycle.

Overview

NMI (Network Merchants, LLC) is a global embedded payments enablement platform founded in 2001 and headquartered in Schaumburg, Illinois. The company provides a modular, white-label payments infrastructure that powers independent sales organizations (ISOs), independent software vendors (ISVs), payment facilitators (PayFacs), banks, and other payment professionals. NMI's platform processes over $502 billion in annual payments volume for more than 6,000 technology partners and over one million active merchants globally, with more than 235,000 connected devices and 300+ EMV device certifications. The platform is structured around four core products: (1) the NMI Payment Gateway, a feature-rich, white-label gateway supporting 150+ processor connections, omnichannel acceptance (online, in-store, mobile, unattended), tokenization, P2PE, and transaction routing; (2) NMI Payments, an all-in-one embedded payments solution that includes merchant acquisition, automated underwriting, onboarding, and revenue-sharing for ISVs and ISOs; (3) Merchant Central (formerly IRIS CRM), a purpose-built merchant CRM and lifecycle management platform featuring automated KYC/KYB/AML checks via ScanX (100+ risk checks), pipeline management, residuals, and reporting; and (4) NMI Business Capital, an embedded lending product powered by Parafin that delivers pre-approved working capital offers (no credit check required, funded in 1–2 business days) directly within merchant portals. NMI differentiates itself through processor agnosticism (200+ pre-certified acquirer connections), deep device coverage (300+ EMV certifications across Ingenico, ID TECH, Payter, FEIG, LANDI, and others), white-label branding at every layer, and its 'bring your own acquirer' model that allows partners to switch processors without re-integration. The company has pursued an acquisitive growth strategy: acquiring Creditcall (UK, 2018), USAePay (2021), IRIS CRM and Agreement Express (2022), and the Sphere Commercial Division (2023). Ownership is split among Francisco Partners (~40%), Insight Partners (~40%), and Great Hill Partners, with the company valued at approximately $1.55 billion as of the 2021 Insight Partners investment.

Key features

• White-label payment gateway (150+ processor connections)
• Automated merchant underwriting & KYC/KYB via ScanX
• Omnichannel acceptance (online, in-store, mobile, unattended)
• Embedded merchant financing via Parafin (NMI Business Capital)
• Merchant lifecycle CRM with residuals management (Merchant Central)
• 300+ EMV device certifications across major hardware vendors

Vertical focus

saas, b2b, retail, ecommerce, hospitality

Notable customers

Wind River Financial, ISVPay, Everyware, International Payment Solutions (IPS), Anovia Payments

At a glance

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