Great news, we were re-certified as a licensed Payment Institution in the UK, which means Segpay complies with the new PSD2 directive in the EU, and can continue providing payment services in the UK and EU. From our official announcement:
Compliance with PSD2’s stronger requirements on data security and consumer protections maintains Segpay’s reputation as a secure, trusted provider,” said Cathy Beardsley, CEO of Segpay. “Our policies and procedures are ahead of our competitors and receiving this authorization demonstrates our continued commitment to go above and beyond to be a leader in compliance.
XBIZ has published another article by Segpay CEO Cathy Beardsley – this one based on some of the ideas for using retention offers to improve churn rates that we shared here earlier this year. Cathy expanded on those ideas for this article, titled “Burn the Churn” in XBIZ’s April issue.
In the March issue of XBIZ, Segpay CEO Cathy Beardsley authored a story on the legal complications of processing payments for cannabis-based businesses, even as more states clear the way for the legal consumption of these products.
Product and marketing strategies tend to get the most attention while running a business day-to-day – making it easy to lose sight of the little things that help sustain a successful operation. In her latest piece published on XBiz.com, SegPay’s CEO Cathy Beardsley lays out a list of 13 essential (if non-sexy) steps that some businesses overlook at their peril:
Please read XBiz.com’s informative look at best billing practices for merchants, published this week. We appreciate that they asked SegPay to participate and we (of course) highly recommend the article. There’s lots of helpful information in there, including the following quote from our CEO Cathy Beardsley about the importance of being prepared for audits:
“At any given time, we can be called for an audit by our acquiring or operating banks. We, as billers, are required to have all our KYC (Know Your Customer) documents up to date, and all sites in compliance, both in terms of content and website documentation (e.g. merchant address included on the website),” Beardsley explains. “As a merchant, it is crucial that you keep your business records up to date. How well organized SegPay is in the eyes of the card brands, acquirers and other banking institutions goes a long way in our success.”
Churn of your subscription customers is one of the most important factors to look at when measuring the health and longevity of your business. Recurring billing models always see some regular churn, it’s just the nature of business with subscription programs. Merchants experiencing a higher-than-normal churn rate are losing out on potential profits, but the good news is they can implement marketing strategies to cut these rates and retain their base.