Paytechs NMI and Shift4 make acquisitions to boost offerings
US paytech NMI has acquired Agreement Express’ payments solutions as it looks to expand its commerce enablement offering to include underwriting and risk monitoring capabilities.
NMI says the deal, the financial details of which have not been disclosed, will “substantially enhance its merchant sign-up offering”, adding the new tech will enable the firm to provide independent software vendors (ISVs), independent sales organisations (ISOs) and fintechs with “customisable risk scoring, automated data collection, compliance monitoring, ongoing know your customer (KYC), anti-money laundering (AML) and fraud screenings”.
Vijay Sondhi, CEO of NMI, says: “Bringing together NMI with Agreement Express addresses market demand for simplifying underwriting and will allow us to deliver more value per merchant to our partners.”
Dave O’Brien, CEO of Agreement Express, adds: “As the payments landscape continues to evolve, companies are looking for new ways to scale with modular solutions and bringing together our solutions provides even more freedom of choice.”
NMI processes more than $203 billion in payments annually for over 3,500 partners and over 277,000 merchants around the world across the entire commerce ecosystem.
Elsewhere, paytech Shift4, which offers payments services to the events and hospitality industries, has acquired Swiss company Online Payments Group for $125.9 million, Payments Dive reports, in a combined stock and cash transaction.
The deal, closed in September, will see Shift4 bolster its global footprint. It will give the company the ability to process payments and enable it to offer e-commerce merchants across the US and Europe online checkout, recurring billing and fraud protection services.