NMI and Paysafe Work to Bring Cross-Border Mobile Payments to Businesses

A shrinking world has made it more possible than ever to buy and sell things from and to those in other countries, but it can still be tough to get cash from one country to another. Leaving aside the issue of exchange rates, basic laws can get in the way. That’s led to one new collaborative effort between NMI and Paysafe, who dropped word our way about the new effort that will hopefully make payments easier between other countries.

The duo already had a partnership in place, the reports note, but the latest move is an expansion of that earlier partnership effort. The expansion has produced a new payment processing system that will allow for more ready use of digital and mobile payments systems, particularly for those users who are already using the NMI payment gateway system.

Since Paysafe is a member of both Mastercard and Visa in Europe, it’s well-positioned to offer cross-border support therein, which has a lot more borders than some might expect. The new system is said to be highly flexible, and sufficiently powerful to offer a wide range of options to its end users.

Todd Linden, Paysafe’s CEO of payment processing for North America, noted “Our ethos is that one size does not fit all and we need to be flexible and allow our merchants and partners to easily plug into our platform in order to grow their business. This expanded partnership with NMI reinforces this approach and our commitment to developing an unrivaled payments platform for our customers - something we continue to focus on and invest in.”

The only problem with this is that cross-border payments have a major new competitor in the field: cryptocurrency. Readily moved from one country to another—almost at the speed of a file transfer—it’s going to leave mobile payments options that focus on cross-border operations somewhat in the lurch. This will especially be true of cryptocurrencies ever go mainstream, a point that many mobile payments providers are likely sweating bullets about.

Still, for now, more standard payments solutions are necessary, and tools like those from NMI and Paysafe will help here. They may have a limited shelf life, but they will have a market. At least, for now.