Network Merchants Incorporated (NMI) is a leading payment processor that provides merchants with secure and reliable online payment solutions. With its vast network of partners, NMI can help businesses process payments from customers in more than 150 countries worldwide.
For online subscription businesses, integrating NMI can provide numerous benefits, such as increased security and scalability for their business operations. But before taking the plunge and integrating NMI with SubscriptionFlow, there are several factors to consider carefully. We will dig deeper into it for your knowledge and convenience.
Payment Options
Some customers may have certain preferences when it comes to paying for subscription services. It’s important to make sure your chosen NMI integration supports all major credit card brands as well as alternative payment methods like PayPal, Apple Pay and Google Wallet.
Fraud Protection
NMI offers features that help protect merchants from fraudulent activities, such as Advanced Fraud Detection System (AFDS) which offers customizable rules-based fraud detection for credit card transactions. As a merchant, you should make sure your chosen NMI integration supports AFDS and other anti-fraud measures to ensure the safety of your customers’ transactions.
Security Protocols
It is important to consider the security protocols that are used when processing payments with NMI. Make sure your chosen integration uses industry standard protocols such as HTTPS/TLS or SSL encryption so customers can rest assured their data is safe while making purchases online.
Scalability
In order to ensure your NMI integration is able to handle the growth of your subscription business, it’s important to consider how scalable it is. Make sure that you have enough capacity for processing transactions and check if the integration provides tools such as batch processing or automatic settlement.
Customer Support
It’s necessary to be aware of the support systems provided by your chosen NMI integration in case something goes wrong with a customer transaction or you encounter any other issues. A good merchant provider should offer 24/7 technical support and live chat options so you can quickly get help if something doesn’t go as planned.
Transaction Fees
Before selecting an NMI solution, make sure you understand all the fees associated with processing transactions. Some providers may charge different rates for different types of payment methods or certain high-risk purchases, while others offer flat fees regardless of transaction size and type.
Compatibility
Make sure your chosen NMI integration is compatible with your existing eCommerce platform so that you don’t have to worry about additional development costs down the line. It’s best to research and test the integration before committing to it in order to avoid any compatibility issues in the future.
Regulatory Compliance
Different countries, states or regions may have their own regulatory requirements when it comes to processing customer payments online. Your chosen NMI solution should be compliant with all relevant payment regulations, such as PCI DSS, so you can rest assured your business is operating legally.
Documentation
Make sure the NMI integration you choose provides comprehensive documentation in case you need to troubleshoot any problems or make changes to your setup. Having a detailed and up-to-date manual can save you time and money in the long run.
Testing
Finally, test your NMI integration thoroughly before putting it into production to make sure that everything is functioning properly. This includes checking all payment options, verifying the security protocols and making sure there are no compatibility issues with your existing eCommerce platform.
The Bottom Line
By carefully considering these factors when selecting an NMI integration for your subscription business, you can make sure that you have the right payment platform to meet both customers’ needs and the requirements of your own business. With a subscription management system, you get all of these features and more, making it an ideal choice for online subscription businesses. It provides an end-to-end solution with integrated fraud protection, secure data encryption technology and extensive customer support. It also supports multiple payment options including credit cards, direct debit and alternative payments like PayPal or Apple Pay. Additionally, it offers flexible pricing plans to accommodate businesses of any size or complexity. All of these features make the subscription management platform an ideal choice for businesses looking to take their subscription services to the next level.
Have a rocking year ahead!