Small World Money Transfer Chooses NMI and Credorax for Electronic Payments
Bristol, UK, August 29, 2019 — Small World Money Transfer has chosen NMI, the unified commerce enablement company, and Credorax, the NextGen smart acquirer, to give its customers the convenience of money transfers via credit card.
Small World customers throughout Europe can now quickly and easily initiate cash pickup, account transfers, mobile wallet top-ups and home delivery with credit card transactions. Recipients can collect their payments in under 15 minutes or have funds credited to their bank accounts within hours.
Prior to using the NMI-Credorax solution, Small World customers primarily used cash at the company’s 6,000 agencies in 21 countries. Cash transactions, however, are inherently slower and less secure than electronic payments. Cash also requires more time and labour to manage and bank. It was preferable, however, to payment services provided by multiple vendors, which required rekeying transaction data at the point of sale and hours of administrative time to reconcile and manage numerous accounts.
Small World’s new payment solution, which leverages NMI’s ChipDNA Gateway and Credorax payment processing, standardizes payment card acceptance processes across all of Small World’s agencies, providing greater operational efficiencies. NMI’s gateway integrates with a wide variety of payment terminals, so each of Small World’s agencies can select the best fit for their operations and optimal customer service.
Additionally, Small World can rely on outstanding support from the two companies, which will help streamline electronic payments and vendor management processes. NMI and Credorax demonstrated their commitment to customer service by implementing the solution and enabling Small World to accept payments in only 10 days.
The NMI-Credorax solution gives Small World the option to fully integrate the payment solution with its software for greater efficiency — both at the point of sale and in the back office. Small World can also choose to take advantage of the solution’s omnichannel capabilities, using it for both card-present transactions at Small World agency locations and online money transfers. Data from a unified system can provide Small World with a deeper understanding of its customers and the services they use most often and allow the business to market more effectively.
NMI is driving transformation in the payment industry through the power of unified commerce enablement. By unifying every point of payment to deliver one view of the customer, NMI is enabling thousands of ISVs, ISOs and fintech innovators to finally break free from today’s payment crunch and unleash new sources of value to achieve disruptive results. Processing more than $50 billion in payments a year, NMI is the driving force behind more than 1,200 technology partners and 127,000 merchants across retail, transportation, hospitality, medical, non-profit, parking, and vending verticals who are shifting to a new unified commerce strategy to put their business first, gain new value and deliver a superior merchant and consumer experiences.