Fintech Trends & Insights

Blog

NMI’s perspective on payments industry trends, innovative tech solutions, merchant management and operational best practices. 

Build vs. Buy: The Complexities of Building Underwriting Software Application and Underwriting Build vs. Buy: The Complexities of Building Underwriting Software By Darryl Cumming In our previous article on build vs. buy, we explored the “four C’s” of customer relationship management software — cost, completeness, compliance and cohesion. In this article, we’ll look at a different, but equally important type of software for companies taking on merchant risk: automated underwriting systems. There are certain aspects of the build vs. buy decision that are common to all software: Cost Completeness Compliance Cohesion All of the four C’s outlined above apply ... Read More
Feature-Rich Platforms Are Winning in Today's Software Market: Here's How Feature-Rich Platforms Are Winning in Today's Software Market: Here's How By Phillip Goericke The business-to-business (B2B) software space is getting more competitive. While there are more tools available than ever before, companies are increasingly looking to use fewer platforms — they want software that integrates a broad range of functionalities, centralizes tasks and maximizes their investment. That means software companies need to build more complete, one-stop products to stay competitive in a crowded market Offering a wider functionality: Simplifies workflows by reducing t... Read More
The Benefits of Getting MIDs Directly From Your Payments Technology Partner Payment Platform The Benefits of Getting MIDs From Your Payments Technology Partner By Michelle Kosir Every business accepting direct credit card payments has a merchant account and an associated merchant identification number (MID) — a 15-digit code that identifies them to their acquirer. Traditionally, a business would receive its merchant account and MID (or MIDs) from a payment service provider. Then, it would purchase payment gateway services from a separate company and value-added services like hardware, fraud prevention tools and more from someone else. It was an inefficient model tha... Read More
SoftPOS vs mPOS: Tap to pay solutions Contactless Payments SoftPOS: The Next Evolution in Convenient Mobile Payment Systems By Kanan Keeney Convenience and affordability are two of the most important factors merchants look for in payment systems. Software point-of-sale (SoftPOS) applications — an emerging mobile payment solution — offer both. Like mobile point-of-sale (mPOS) systems, SoftPOS systems turn any phone or Android tablet into a fully secure payment acceptance terminal. But, unlike mPOS systems, which require a phone or tablet and a specialized card reader, SoftPOS eliminates the extra hardware, using just an app and a... Read More
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