NMI
“Can NMI become the full-stack embedded payments and financial services infrastructure layer powering every ISO, PayFac, and SaaS platform — from gateway through lending and multi-rail money movement?”
NMI began as a payment gateway provider serving ISOs and software companies, enabling white-label payment processing. Over time it expanded from a pure gateway to a full embedded payments infrastructure platform — adding merchant onboarding, CRM (Merchant Central / IRIS), fraud tools, and unattended/self-service payment support. The acquisition of Dwolla in 2025 marked a major pivot toward multi-rail money movement (ACH, RTP, card), and the launch of NMI Business Capital via Parafin extended the platform into embedded lending, positioning NMI as a broader embedded financial infrastructure provider for ISOs, PayFacs, and SaaS platforms.