It's no secret the payment industry can be difficult to navigate. Merchants in particular, who lack industry expertise, are overwhelmed and undereducated. NMI recognized this dilemma early on when it introduced its fraud detection software in 2001. Without proper guidance, Merchants mistakenly set fraud thresholds too high and inadvertently removed good transactions with bad ones. Or they set thresholds too low which resulted in fraudulent transactions and chargebacks.
Either way, NMI knew merchants needed proper guidance to make intelligent decisions. Who better to provide that support than payment professionals? So instead of marketing products directly to merchants, NMI decided to work exclusively with payment professionals, who in turn would train merchants how to use NMI products. The most logical choice for this partnership was the Independent Sales Organization, or ISO.
NMI believes ISOs are the necessary professional component to help support merchants. They are the backbone of the payment industry and are well-suited to solve most merchants' challenges. Because ISOs work with merchants directly, they study the industry, its new technologies, and provide valuable insight which allows merchants to make better-informed payment processing decisions. They are hard-working professionals dedicated to their craft.
More than a decade later, NMI's business philosophy is a huge success. Over 65,000 merchants benefit because they are able to efficiently process transactions in a secure environment and have a greater understanding of the industry's products and services. ISOs benefit because they can rely on NMI for its dedicated support and are able to promote and maintain personal relationships with merchants all while generating additional revenue. And, NMI benefits because it spends less time having to assist merchants and more time developing innovative quality products and services.
It's a win-win-win for everyone.