Network Merchants (NMI) vs. Authorize.net
Payment processing technology is a crucial aspect of any business operation, especially in today's digital world. When it comes to picking the right provider for your business, two names that often come up are Network Merchants (NMI) and Authorize.net. Both are popular options in the industry, offering similar services to customers. But how do they compare, and which one is the better choice for your business? Let's take a closer look.
Features
When comparing NMI and Authorize.net, it's important to consider their features. Both platforms offer a range of services including payment gateway, fraud detection, and recurring billing. However, NMI offers additional features like QuickBooks integration and support for multi-currency transactions, which can be a valuable asset for businesses operating internationally. Authorize.net offers tokenization, which allows merchants to store sensitive data with the service, further improving security.
Pricing
Pricing is a critical factor when considering payment processors. Networks Merchant, unlike Autherize.net, doesn't provide pricing information on their website for their platform. On the other hand, Authorize.net's pricing plans offer various options. Starting with a monthly fee of $25, the plan offers a per-transaction fee of 2.9% + $0.30, while a higher fee offers additional services-like fraud detection, invoicing, and recurring billing-that can be very useful for small- and mid-sized businesses.
Integration and User Experience
The ease of use and compatibility with different systems is a crucial factor in selecting a payment processing platform for any business. As such, both Authorize.net and NMI platforms offer integration with most major CMS, eCommerce platforms, and POS systems. Both providers have decent user interfaces to make it easy and quick for the user to perform various functions on their dashboard.
Support and Customer Service
Both NMI and Authorize.net offer impressive customer service and support. NMI provides a 24/7 email and phone assistance service, while Authorize.net provides an online knowledge base and email support alongside their telephone hotline. Additionally, Authorize.net offers a live chat service for inquiries.
Conclusion
In conclusion, both Authorize.net and Network Merchant offer solid payment processing platforms. They both have their distinct advantages and disadvantages. It's essential to analyze your business requirements and choose a provider that aligns with those. It is also worth considering the affordability versus the potential needed services for your business operations. By evaluating the differences between the two, you can choose the one that works best for your specific needs and ensures your business's financial success.
References
- Network Merchants (NMI): https://www.nmi.com/
- Authorize.net: https://www.authorize.net/