NMI Acquires IRIS CRM, Expanding Deeper in the Commerce Value-Chain
To meet increased demand for full commerce enablement solutions, NMI and IRIS CRM’s joint offerings better enable ISO, ISV, bank and fintech partners
SCHAUMBURG, IL – JANUARY 18, 2022 – NMI, a leading full commerce enablement technology company, today announced it has acquired IRIS CRM, a premier merchant services CRM and comprehensive merchant management platform servicing clients in the payments industry. Together, the duo will provide added value for partners by bringing together easy sign-up and onboarding for merchants with the ability to quickly monetize payments.
With the addition of IRIS CRM’s payments-centric customer relationship management system (CRM), NMI is uniquely positioned to create an even stronger commerce enablement strategy for its channel partners and merchants. Their joint offerings and capabilities will drive additional value by expanding NMI’s solution outside of gateway services and adding another layer to their full commerce offering through the addition of merchant prospecting and management and effortless onboarding capabilities.
“NMI believes in creating solutions that enable our partners far beyond the boundaries of traditional payments and focuses on the full commerce experience that they provide,” said Vijay Sondhi, CEO of NMI. “We define full commerce as providing a seamless solution from sign up to payout. By bringing these two companies together, it accelerates the former part of that vision by delivering a more seamless, swift onboarding experience and additional touchpoints through all stages of the commerce lifecycle through a merchant-centric CRM built specifically for the payments industry.”
Through this acquisition, IRIS CRM will expand NMI’s capabilities through sophisticated lead management, electronic signature capabilities, TurboApp direct-to-processor onboarding, integrated portfolio reporting across a growing list of acquirers and residuals income calculations – all of which are not possible with other CRMs. Dimitri Akhrin, president of IRIS CRM, will continue on in his role in the combined organization and remain a key stakeholder.
"We are excited to join forces with NMI and enter this next chapter by combining our expertise and teams to provide mutual clients with greater value amid the evolving payment processing technology landscape," said Dimitri Akhrin, president of IRIS CRM. “We worked hard to build a payments-centric CRM, and that expertise, combined with NMI’s depth and breadth of partners and solutions, will be incredibly powerful for our clients and their direct-merchant customers to scale.”
IRIS CRM is headquartered in Brooklyn, New York. NMI will retain the Brooklyn office and welcome the IRIS CRM employees into the NMI family. Wellesley Hills Financial acted as the financial advisor and Gibson, Dunn & Crutcher LLP acted as legal advisor to IRIS CRM. Terms of the acquisition are undisclosed. For more information about NMI’s expanded offerings, please visit www.nmi.com.
NMI is a leading global payment enablement platform, processing more than $180 billion in payments annually. We enable payments for over 3,200 partners and over 260,000 merchants around the world and across the entire commerce ecosystem: online, in-app, mobile, in-store, unattended and whatever’s next. We’re constantly innovating in order to power the next era of payments, building in the latest technology so ISVs, ISOs, banks and fintech innovators can focus on what they do best. NMI has offices in the US and UK and serves global customers.
About IRIS CRM
IRIS CRM is a leading merchant services CRM designed specifically for the unique needs and challenges of independent sales organizations (ISOs), payment facilitators, and their merchants. IRIS CRM provides reporting on more than 355,000 active merchants each month and offers payment processing organizations the ability to handle all of their merchant acquisition, onboarding, support, and residual income calculations through a single platform. By automating and streamlining the most repetitive and time-consuming tasks performed by payment processing organizations, IRIS CRM enables agents, support staff, and management to spend less time on manual processes and more time on generating new revenue.