Today is National Stress Awareness Day. We hope it’s a day that doesn’t apply to you because you’re stress-free, but the truth is that most of us do experience stress and today is a day to discuss, and hopefully try to resolve, whatever is causing stress in our lives.
What is Segpay’s Reporting Service (SRS)? In a nutshell, it’s just what the headline above says: a way to make your life easier – assuming, of course, you are a merchant processing payments with Segpay. SRS lets you automate and/or simplify consumer support tasks and the retrieval of key stats about your transactions, all via http requests from your system to Segpay’s.
Those involved in the cryptocurrency markets are familiar with the process for funding an exchange account to make trades. However, if you use a credit card to fund your account, chances are you will start seeing an additional transaction fee. Both Visa and MasterCard have clarified the Merchant Category (MCC) Codes used to classify these transactions, and the result is higher fees for consumers.
Back in July, SegPay CEO Cathy Beardsley wrote about customer retention strategies for subscription-based businesses, in particular how important it is to understand why customers are leaving (a.k.a., “churn”) before you can determine the best ways to retain them. Cathy defined a few different types of customer churn and suggested ways to combat each type:
For many years, SegPay has paired US merchants who do business in Europe with local acquirers that provide payouts in US Dollars. However, for various reasons the ability to find sufficient merchant settlement options for USD payouts has been getting more challenging. We expect this trend to continue, so we wanted you to be aware and let you know how we’re preparing.
When you think about growing your business beyond the borders of your home country, it probably feels like a daunting task: you have to consider language translations, currency conversions, cultural sensitivities, not to mention navigating a potential maze of local laws and regulations. However, depending on where you are located and how customizable your website is, taking the first step may not be as difficult as it seems.
None of us likes to think about disaster scenarios or imagine that they will affect us or our business. However, we all know that storms and other catastrophic events – natural or otherwise – are a fact of life, and it makes sense to be prepared, just in case.
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:
SegPay isn’t just a payments processor, we’re a customer support company too, handling consumer billing inquiries on behalf of merchants for more than a decade. This week we wanted to share a few lessons learned over the years; most are common sense but often overlooked.
Good customer service is a key to sustaining any successful business, but perhaps nowhere is this more true than in recurring revenue models, which depend on keeping customer memberships active over long periods of time; i.e., reducing churn. Of course, delivering the content or products customers want is the main way to keep them around. However, one could argue that it’s just as important to give them the type of support they want – namely, a chance to be heard; different ways to voice their thoughts and opinions; and a company that is responsive and caring in its communications. Do those things and you’ll keep your customers happy and loyal.
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.”