When Network Merchants (NMI) first announced plans to release a global payment gateway, its CEO, Roy Banks, told PYMNTS that it would stand out from the crowd by offering a new way to tackle the complexity of companies’ payments processing needs — especially for SMEs.
To do so, it created FACenablement — FACe for short — which saw its debut at the Money20/20 conference in October. Now, FACe is entering the market on a broad scale, now ready for commercial release.
NMI announced Tuesday (Dec. 8) that FACe has reached its full market entrance for other payment companies to access its processing capabilities.
“FACe effectively negates any need for payment facilitators to build their own technology,” Banks said in a statement. “FACe saves payment facilitators the considerable time and capital required to engineer a payment platform from the ground up. Instead, they can leverage our platform’s ready-to-deploy features and value-added services to accelerate go-to-market timeframes.”
NMI Vice President of Product Development Nick Starai added that the company focused on “speed, simplicity and elegance” in its B2B service.
The solution uses NMI’s existing payment gateway to provide other businesses with payments capabilities. But the service also provides companies with real-time customer onboarding, compliance and accounting and billing capabilities, the firm said.
The company highlighted the agnostic nature of its gateway; according to Banks in his November interview with PYMNTS, the company will be working to ink new partnerships with FACe to fuel adoption.
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