Nelnet Payment Services
Nelnet Payment Services, a Nelnet Inc. subsidiary, provides secure ACH and credit card payment processing via the PaymentSpring platform for education, nonprofit, faith, small business, enterprise, and technology partner clients, processing billions of dollars in transactions annually.
- Company typePrivate
- Founded2012
- HeadquartersLincoln, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
What Nelnet Payment Services does
Nelnet Payment Services, LLC is a US-based payment processor and wholly-owned subsidiary of Nelnet, Inc. (NYSE: NNI), operating from Lincoln, Nebraska. The company provides secure electronic payment processing for organizations of all sizes, supporting both ACH/direct debit and credit card transactions. Its core product is the PaymentSpring platform, which delivers PCI-compliant payment infrastructure with tokenization, encryption, and card vaulting capabilities. The platform is offered through two primary surfaces: a self-serve merchant dashboard for direct signup, and a developer-facing API for technology partners who embed payment processing into their own software products.
The business serves four primary verticals — education (tuition and enrollment payments), nonprofit (donations and membership), faith/church (tithes and offerings), and small business (point-of-sale and recurring billing) — plus enterprise and embedded technology partner segments. Revenue is generated primarily through transaction fees on processed volume and subscription/recurring fees for gateway and API services. Pricing is quote-based and not publicly disclosed, with a pay-as-you-go model for small merchants and custom pricing for enterprise. Distribution spans self-serve onboarding, direct enterprise sales, an embedded partner channel, and a reseller network.
As a registered Independent Sales Organization of PNC Bank, N.A., Nelnet Payment Services processes transactions through PNC's banking rails, providing the regulatory and banking-rail foundation for its operations. The company reports processing billions of dollars in transactions annually and serves organizations globally. Leadership includes President Becky Pollock (former CFO of Nelnet Business Services), supported by directors across product development, IT, client services, compliance, and finance, with multiple team members holding Accredited ACH Professional, Accredited Payments Risk Professional, and Certified Payments Professional credentials.
Nelnet Payment Services firmographics
Firmographics- Name
- Nelnet Payment Services
- Legal name
- Nelnet Payment Services, LLC
- Website
- https://nelnetpaymentservices.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Nelnet Payment Services, a Nelnet Inc. subsidiary, provides secure ACH and credit card payment processing via the PaymentSpring platform for education, nonprofit, faith, small business, enterprise, and technology partner clients, processing billions of dollars in transactions annually.
- Ownership category
- akta.pro rank
Nelnet Payment Services industry classification
Industry- Product category
- Payment Processing Services
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
- akta.pro primary industry
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
- akta.pro secondary industries
- Tokenization & Secure Payment Vaults (Card-on-File) (FSAMACAC), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)
Keywords
Where Nelnet Payment Services is headquartered
LocationHeadquarters
- HQ city
- Lincoln
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Nelnet Payment Services business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales
Revenue model
- Payment Processing Transaction Fees: Revenue generated from processing credit card and ACH/direct debit transactions for merchants. The company processes billions of dollars in transactions annually, with fees typically charged as a percentage of transaction value or flat fee per transaction.
- Payment Gateway Services: Revenue from providing merchant gateway access and API-based payment services to technology partners integrating payment capabilities into their software platforms.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Small organization pricing for mom-and-pop shops, small nonprofits, and churches |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Nelnet Payment Services product offering
Product offeringCore offering
Nelnet Payment Services provides secure electronic payment processing for organizations, supporting ACH/direct debit and credit card transactions through its proprietary PaymentSpring platform. The company serves merchants (businesses, schools, churches, and nonprofits) directly and offers an API/embedded commerce channel for technology partners integrating payment capabilities into their software products. It also provides PCI-compliant security features including tokenization, encryption, and card vaulting.
Product overview
Nelnet Payment Services is a payment processing platform offering a comprehensive suite of secure payment solutions for organizations of all sizes. The portfolio includes Payment Processing Solutions for ACH/direct debit and credit card transactions, complemented by Security & Compliance tools (PCI compliance, tokenization, encryption, card vaulting). The company serves two primary segments: Merchants (businesses, schools, churches, nonprofits) who use direct payment services, and Technology Partners who integrate payment capabilities via the PaymentSpring API. Additional offerings include Easy Merchant Signup for streamlined onboarding and Partnership Services for ongoing consultation. The platform processes billions of dollars of transactions annually and serves education, nonprofit, and business industries.
Differentiator
Problem solved
Functional benefit
Products and services
- Payment Processing Solutions
- Merchant Services
- PaymentSpring Technology Partner Integration
Companies that use Nelnet Payment Services
Customer profileSegments6 records
Ideal customer profiles5 records
Nelnet Payment Services technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Nelnet Payment Services partnerships and signals
Strategic signalScale indicators2 records
Recent moves5 records
Expansion highlights5 records
Nelnet Payment Services competitors and assessment
Company assessmentBroad incumbents
- PayPal: PayPal is a global incumbent in online payments, serving consumers, merchants, and developers with checkout, gateway, and Braintree APIs. It competes broadly with Nelnet Payment Services across SMB, nonprofit, and platform/ISV integrations.
- Authorize.Net (Visa): Authorize.Net, owned by Visa, is a long-established payment gateway serving SMBs and developers with hosted checkout and API integrations. It overlaps with PaymentSpring's gateway and developer-focused offerings.
- Heartland Payment Systems (Global Payments): Heartland, part of Global Payments, is a large established payment processor and ISO serving SMB through enterprise merchants across verticals. It is a broader incumbent competing with Nelnet Payment Services for SMB and mid-market merchant acquiring.
Direct peers
- Helcim: Helcim is a payment processor and gateway serving small-to-mid-sized merchants with transparent interchange-plus pricing. It competes with Nelnet Payment Services for SMB merchants seeking ACH and card processing with self-serve onboarding.
- Stax (formerly Fattmerchant): Stax is a subscription-based payment processor targeting SMBs and SaaS platforms with API integrations. Its technology-partner distribution model directly parallels Nelnet Payment Services' PaymentSpring OEM/embedded channel.
- PaymentCloud: PaymentCloud is an ISO/ payment processor focused on high-risk and SMB merchants across multiple verticals. It competes with Nelnet Payment Services for the same SMB merchant onboarding funnel and ISO sponsorship model.
- Stripe: Stripe is a leading API-first payment processor and gateway serving merchants, SaaS platforms, and marketplaces globally. It competes directly with Nelnet Payment Services for technology partner integrations and merchant acquiring relationships across SMB and enterprise segments.
- Block (Square): Block's Square provides integrated payment processing for small businesses, nonprofits, and churches — directly overlapping Nelnet's SMB, nonprofit, and faith-based merchant segments with comparable transaction-based pricing models.
- Transact (Instructure): Transact Campus provides integrated campus commerce and payment solutions for higher education, including tuition management and payment plans — directly comparable to Nelnet's education payment offerings including Nelnet Campus Commerce and FACTS.
- TouchNet Information Networks: TouchNet specializes in payment processing for higher education institutions, including tuition, fees, and campus commerce — directly competing with Nelnet's education-vertical focus and Nelnet Campus Commerce integration.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks4 records
Key highlights7 records
Customer concentration
Nelnet Payment Services social profiles
Digital presenceNelnet Payment Services compliance and trust
Trust signalCompliance1 record
Nelnet Payment Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
Nelnet Payment Services leadership team
Management profileNumber of profiles
Profiles6 records
Nelnet Payment Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Nelnet Payment Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Nelnet Payment Services
What does Nelnet Payment Services do?
Nelnet Payment Services provides secure electronic payment processing for organizations, supporting ACH/direct debit and credit card transactions through its proprietary PaymentSpring platform. The company serves merchants (businesses, schools, churches, and nonprofits) directly and offers an API/embedded commerce channel for technology partners integrating payment capabilities into their software products. It also provides PCI-compliant security features including tokenization, encryption, and card vaulting.
Is Nelnet Payment Services a public or private company?
Nelnet Payment Services is a private company. It is classified as corporate owned and is currently operating.
When was Nelnet Payment Services founded?
Nelnet Payment Services was founded in 2012. It employs 51 to 100 people.
Where is Nelnet Payment Services based?
Nelnet Payment Services is headquartered in Lincoln, United States, in the North America region.
How does Nelnet Payment Services make money?
Two revenue lines are on record. Payment Processing Transaction Fees are the primary driver. The others are payment Gateway Services.
Who are Nelnet Payment Services's main competitors?
Broad incumbents on record are PayPal, Authorize.Net (Visa) and Heartland Payment Systems (Global Payments). Direct peers are Helcim, Stax (formerly Fattmerchant), PaymentCloud, Stripe, Block (Square), Transact (Instructure) and TouchNet Information Networks.
Does Nelnet Payment Services have an API?
Yes. Nelnet Payment Services offers a developer API (PaymentSpring) that enables technology partners to build software that seamlessly integrates into any technology product, creating a secure payment experience. The API supports payment processing including ACH/direct debit and credit card transactions. Developer documentation is at docs.paymentspring.com.
What industry is Nelnet Payment Services in?
Nelnet Payment Services's product category is Payment Processing Services. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of FSAMACAC, Tokenization & Secure Payment Vaults (Card-on-File). Its NAICS code is 522320.