New product offering will be available through NMI's payment platform marketplace
SCHAUMBURG, Ill., July 18, 2023 /PRNewswire-PRWeb/ -- NMI, a leading full commerce enablement technology company, has launched a product collaboration with Authvia, a platform that provides simple payment experiences via text, to provide its TXT2PAY® capability to NMI partners and the merchants they work with.
Through TXT2PAY, merchants can securely request and receive a payment via text, which can be up to 10 times faster than other payment methods. Merchants simply need to enable the service in NMI's Marketplace, and they can begin sending invoices and receiving payment immediately. Additionally, end-users will have a simple and convenient way to pay a bill or invoice with their mobile phones while allowing an additional means to accept payments for merchants. TXT2PAY's conversational commerce platform will help NMI's partners offer speed, convenience and security in the solutions they provide to their merchant clients.
"Payment support via text adds significant value for our partners by simplifying speed-to-payment and minimizing PCI and data security risk exposure." said Tiffany Johnson, Chief Product Officer at NMI. "Early adopters are using TXT2Pay across a wide variety of use cases ranging from invoicing, accepting donations, paying bills, sending reminders and more. It's exciting to see a product that solves such a wide variety of needs in the market in such a cost efficient and secure way."
NMI's platform leverages its integration with Authvia to manage the critical task of billing and payments for its partners and customers, removing the burden of investing in additional resources and infrastructure. Within NMI's Virtual Terminal, businesses can start conversations with customers, create payment requests with customizable instructions, see a text preview before it's sent to a customer, receive payment and receipts sent automatically and more.
"We have seen an increased demand from both merchants and consumers for quicker, more frictionless payment solutions, and TXT2PAY meets those needs through a device people use every day – their smartphone," said Chris Brunner, Founder and CEO at Authvia. "Additionally, TXT2PAY allows merchants to seamlessly handle billing and boost both compliance and security due to the nature of the transaction being on cardholders' own phones. We are proud to partner with NMI to provide TXT2PAY through NMI's Marketplace."
TXT2PAY is the latest offering in NMI's growing, diverse marketplace of apps. This product comes on the heels of NMI's November 2022 announcement of its product collaboration with Kount to add Kount's global database fraud prevention technology on top of NMI's proprietary Advanced Fraud Prevention solution.
For more information on NMI's marketplace of apps and Authvia TXT2PAY®, visit: https://www.nmi.com/solutions/marketplace-apps/
About NMI
NMI is a leading global full commerce enablement platform, processing more than $200 billion in payments annually. We enable over 3,500 partners that serve over 300,000 merchants around the world and across the commerce ecosystem: including merchant underwriting, onboarding and management, along with payments acceptance across online, in-store, mobile and unattended–and what's next. We're constantly innovating and building the latest technology so ISVs, ISOs and fintech innovators can power a seamless sign-up to payments experience, while focusing on what they do best. For more information, please visit nmi.com.
Media Contact
Maggie Crouch, Walker Sands, for NMI, 3122354318, nmi@walkersands.com
SOURCE NMI
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