NMI Acquires USAePay to Expand Omnichannel Payment Offering
NMI, a leading global payments enablement technology company, today announced it has acquired USAePay, a payment solutions company. Bringing together the NMI and USAePay solution sets allows the combined entity to better serve its joint partners and the market by expanding NMI’s technical capabilities, offering more choice and further establishing its leadership in global omnichannel payments.
As merchants continue adapting their payment strategies to meet consumers where they are during COVID-19, omnichannel solutions have cemented their role as the leading payment processing method across industries. NMI’s acquisition of USAePay will create an even stronger global omnichannel offering, pairing each company’s leading solutions across e-commerce, unattended, retail and mobile payments. Its joint offerings and capabilities will drive more value for partners and developers, and enable more modularity to create unique payment solutions for consumers. The acquisition will also strengthen NMI’s coverage in several key verticals, including retail and restaurant where USAePay has established footprints due to their card-present point-of-sale offerings.
“NMI has a history of continuously innovating to provide payment solutions that reflect changing market conditions,” said Vijay Sondhi, CEO of NMI. “We’re committed to providing our ISO, ISV, bank and fintech innovator partners with the choice and flexibility they need to meet shifting consumer preferences across channels through our white-labeled platform. The addition of USAePay to the NMI family will complement our existing products and bring additional expertise to our team. It will further establish our commitment to offering greater scale, breadth and depth in our solutions and resources to better serve the market. Our combination reinforces our position as the main independent player of scale delivering flexible white-labeled solution agnostic of acquirer or merchant account provider."
“This is an exciting move by NMI and USAePay. If there’s anything 2020 taught us, it’s the importance of omnichannel,” said Mike Strawhecker, President of The Strawhecker Group (TSG), an analytics and consulting firm focused on the payments acceptance industry. “The restaurant and retail industries are prominent examples of this, but it’s true across the board. With nearly a half-century between the two companies of transacting payments, they should be able to reliably innovate at a rapid pace.”
The combined company accounts for $100+ billion in payment volume and 1.5+ billion in payment transactions in 2020.
“The combination of USAePay with NMI will benefit the broader payment enablement market including USAePay customers,” said Ben Goretsky, CEO of USAePay. “We’re thrilled to become part of NMI’s growth story and join their global footprint. We’re proud of the success we’ve had as an independent payments solutions provider and look forward to enjoying even greater success by combining our complementary capabilities and market coverage with NMI to support a wider range of partners and their merchants with a stronger set of omnichannel solutions.”
USAePay is headquartered in Glendale, Calif. NMI will maintain the Glendale office and welcome the USAePay employees into the NMI family. Terms of the acquisition are undisclosed. For more information about NMI, visit www.nmi.com.
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