NMI Launches New Mobile Card Reader to Enable Fast, Seamless Payments for Partners

SCHAUMBURG, Ill.--(BUSINESS WIRE)--Apr 17, 2024--

NMI, a global leader in embedded payments, today announced it has certified the ID TECH VP3350 mobile card reader, adding to the range of devices supported on its gateway. The device is designed to connect directly with smartphones and tablets to provide quick, seamless and cost-effective mobile payment acceptance. This allows our partners to offer small and medium-sized businesses, who previously could only take cash or were unable to afford a costly card reader, the ability to accept credit cards with a user-friendly device.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240417595493/en/

This new device comes at a time when speed and convenience largely dictate consumer payment preferences, and the ability of merchants to offer these types of payments can make or break the customer experience. In fact, 84% of consumers say convenience is the number one reason why they use their preferred payment methods, and just under half (49%) use these methods because they’re the fastest.

The ID TECH VP3350 connects to any iOS or Android mobile device physically or via Bluetooth and is fully certified for EMV contact and contactless payments, making it the simplest way to accept fully EMV-compliant card-present transactions. The device also maintains full EMV security and encrypts card data at the point the contact or contactless card is read.

The new device works seamlessly with the NMI iProcess mobile payment app and the NMI payment device SDKs for Android and iOS, which can be found on the new NMI developer portal. The ID TECH VP3350 authorizes transactions within seconds, and with its optional hard-wired connection, no pairing or configuration is required. Additionally, full reporting is available both on the app as well as on the NMI merchant portal, so merchants can keep track of sales and refunds as they manage their business.

Kanan Keeney, Senior Product Manager at NMI, said:

“NMI chose to launch this new device so our ISO and ISV partners would have a low-cost payment solution to offer to their merchants. In partnership with ID TECH, NMI prioritized a convenient and seamless payment experience with easy setup, long battery life and fast payment acceptance. This supports our partners in creating tailored payment experiences and enhances the services they provide to their merchants.”

To learn more about NMI and its card-present payment device offerings, visit: https://www.nmi.com/.

About NMI

NMI is a global leader in embedded payments, powering more than $200 billion in payment volumes every year. From our industry-leading payment gateway technology to our seamless merchant acquiring, underwriting, onboarding and management platform, we enable our partners across the entire payments ecosystem. We help our partners deliver frictionless payment solutions to their customers, offering modularity, flexibility and choice, wherever and however consumers want to pay – online, in-store, in-app, mobile and unattended. And we’re constantly innovating, empowering ISOs, software vendors and payment professionals as they embrace the future of fintech.

About ID TECH

ID TECH is a world-recognized leader in the design and manufacture of secure payment solutions, ranging from state-of-the-art contactless/NFC payment devices to EMV and Magstripe readers. For more than 30 years, ID TECH has built a reputation based on technical excellence, innovation, and a commitment to superior customer service. Headquartered in Cypress, California, USA (with additional engineering centers in Rocklin, California, Shanghai, China, and Taoyuan City, Taiwan), ID TECH is an industry leader in delivering payment solutions across the globe.

For more information about ID TECH, please visit http://www.idtechproducts.com.

The ID TECH VP3350 mobile card reader is the newest device supported by NMI's gateway (Photo: Business Wire)

MILAN (AP) — Energy and environment ministers of the Group of Seven leading industrialized nations committed Tuesday to phase out coal power by 2035, marking the first time the G7 has explicitly referenced a phase-out, but left flexibility for countries heavily reliant on coal.

The final communique of the meeting in the Italian city of Turin included language that could extend the 2035 deadline to a “timeframe consistent with limiting the rise in global temperatures to 1.5 degrees Celsius” above pre-industrialized levels.

Italy’s environment and energy security minister, Gilberto Picchetto Fratin, emphasized the significance of targeting coal, “the source of most emissions.”

The communique puts a timeline to countries' commitments made at the COP 28 conference last year in Dubai, which called for accelerating the phase-down of so-called unabated coal power, where emissions have not been captured.

“This is the first time that a pathway and a goal has been indicated,’’ Picchetto Fratin told a news conference.

Environmental campaigners said the commitment fell short of the goal of decarbonizing power sectors in the G7 nations by 2035, recommended by both the Intergovernmental Panel on Climate Change and the International Energy Agency, which would require phasing out coal by 2030 and gas power by 2035.

The Beyond Fossils Fuel campaign called the coal power phase-out commitment vague, “likely in a bid to coax a coal exit commitment from Japan.”

Japan is the only G7 country without a coal phase-out date. Britain, France, Italy and Canada are committed to phasing out coal no later than 2030, while the United States and Germany “are taking major steps toward this date,’’ said Pieter de Pous, program lead at E3G’s Coal to Clean program.

“G7 ministers need to lead by example and align their commitments with reality and the urgency of the climate crisis,” said Claire Smith with Beyond Fossil Fuels.

Italy's Environment and Energy Security Minister Gilberto Pichetto Fratin talks during the G7 Climate, energy and environment press conference at Venaria Reale in Turin, Italy, Tuesday April 30, 2024. (Alberto Gandolfo/LaPresse via AP)

Canada's Environment Minister Steven Guilbeault speaks during the G7 Climate, energy and environment press conference at Venaria Reale in Turin, Italy, Tuesday April 30, 2024. (Alberto Gandolfo/LaPresse via AP)

Japan's Minister of Economy Ken Saito, left, and Japan's State Minister of the Environment Tetsuya Yagi take part in the G7 Climate, energy and environment press conference at Venaria Reale in Turin, Italy, Tuesday April 30, 2024. (Alberto Gandolfo/LaPresse via AP)

Italy's Environment and Energy Security Minister Gilberto Pichetto Fratin talks during the G7 Climate, energy and environment press conference at Venaria Reale in Turin, Italy, Tuesday April 30, 2024. (Alberto Gandolfo/LaPresse via AP)