NMI Acquires IRIS CRM

NMI, a commerce enablement technology company, has acquired IRIS CRM, a merchant services CRM and comprehensive merchant management platform provider, bringing together sign-up and onboarding for merchants with the ability to quickly monetize payments. Financial terms of the deal were not disclosed.

With the addition of IRIS CRM, NMI is expanding its offerings outside of gateway services and adding another layer to its full commerce offering through the addition of merchant prospecting, management, and onboarding capabilities. IRIS CRM also brings lead management, electronic signature capabilities, TurboApp direct-to-processor onboarding, integrated portfolio reporting across a growing list of acquirers, and residuals income calculations.

"NMI believes in creating solutions that enable our partners far beyond the boundaries of traditional payments and focuses on the full commerce experience that they provide," said Vijay Sondhi, CEO of NMI, in a statement. "We define full commerce as providing a seamless solution from sign up to payout. By bringing these two companies together, it accelerates the former part of that vision by delivering a more seamless, swift onboarding experience and additional touchpoints through all stages of the commerce lifecycle through a merchant-centric CRM built specifically for the payments industry."

"We are excited to join forces with NMI and enter this next chapter by combining our expertise and teams to provide mutual clients with greater value amid the evolving payment processing technology landscape," said Dimitri Akhrin, president of IRIS CRM, in a statement. "We worked hard to build a payments-centric CRM, and that expertise, combined with NMI's depth and breadth of partners and solutions, will be incredibly powerful for our clients and their direct-merchant customers to scale."