How Industry Leaders Rose to the Challenge of a Tumultuous Year

It’s hard to believe but we are nearing the one-year anniversary of the pandemic.  While it turbo-charged some industries it also decimated others.  Segpay is lucky to be one of those who has remained strong and continued to add to its offerings at a time when so many have turned to ecommerce.  In this month’s XBIZ World Magazine, Segpay CEO Cathy Beardsley and Segpay was selected as one of the highlighted businesses to share its success story in the edition’s Cover Story Storm Blazers.  

“Branding and hosting powerhouses supercharged clients with much-needed marketing muscle and heavyweight servers that would not buckle beneath the strain of socially distanced fans and partners,” said Alejandro Freixes XBIZ Managing Editor. “For Cathy Beardsley of Segpay, that meant finding ways to put merchants first with features that streamlined and simplified the checkout process.”

In 2020, Segpay made several enhancements and updated its cyber security practices.  It also added payment options with the integration of PayPal as a payment option and the addition of four local currencies to its Dynamic Multi-Currency for its U.S. Merchants.

“Offering multiple currencies helps to eliminate the fluctuation between the dollar and other local currencies,” Beardsley said. “We’ve also been preparing for the EU Revised Payment Services Directive for some time and this past year, the Segpay compliance team optimized the PSD2 workflow providing greater control for merchants and has reduced friction and cart abandonment by their customers.”

To read the full XBIZ Cover Story click here.

Cushioning the First Quarter Chargeback Blow

Did you know that the first quarter is one of the highest for chargeback or payment disputes?  This typically comes from consumers feeling buyer’s remorse after the holidays when their credit card statement comes in.  Chargebacks typically trail anywhere from 30 to 90 days, so its normal to see your first quarter rate 10% higher than the rest of the year.  These disputes can throw off your chargeback balance and potentially put you in breach of card brand thresholds leading to fines and penalties.

In her latest XBIZ Column, Cathy shares the latest tools and tips to preventing chargebacks up front and what to do if you exceed the threshold.

“First, don’t panic, Visa and Mastercard both typically allow a six-month workout period,” said Segpay CEO Cathy Beardsley.  “If you’re barely over the limit and not a habitual offender, the card brands sometimes suspend the fines giving a few additional months grace to work your way out.”

To read Cathy’s full column click here.

Segpay Wins Payment Services Company of The Year

XBIZ recently shined a spotlight on the online industry and announced the winners of the 2021 XBIZ Awards.  We are excited and thankful to share that Segpay is the winner of the Payment Services Company of The Year IPSP.  We want to give a big thank you to XBIZ voters and our peers for helping us receive this recognition of excellence. 

“It’s an honor to be recognized in this category,” said Cathy Beardsley.  “I want to thank all the merchants that have supported us over the years and, most importantly, to thank the Segpay team for its dedication to getting our clients paid.”

To read more about this year’s winners of the 2021 XBIZ Awards, you can see full coverage here or on XBIZ.com.

XBIZ 2021 Heats Up, Virtual Seminars You Won’t Want to Miss

As XBIZ 2021 heads into day two, we’re excited to be a part of and presenting during today’s seminar line up.  First, Segpay CEO Cathy Beardsley will be a part of the panel of Billing 2021: The Year Ahead talking about the recent upheaval in payment processing. This executive session will dive into recent developments and help merchants prepare for what’s ahead this year.  Joining Cathy in the discussion is Jonathan Corona from Mobiuspay, Wendy Nelson from Netbilling, Karen Campbell from Orbitalpay, Raja Roy-Choudhury from Chargebackhelp, Evil Chris from Payze and Jeff Adams from CCBill.  This tech track discussion takes place at 3 p.m. PST.

Segpay is also presenting Best Practices for Managing User Uploaded Content.  Cathy will lead an expert panel on the best ways to protect yourself in managing user-uploaded content as recent events now have the spotlight shining on tube sites.  Cathy will be joined by JustFor.Fans’ Dominic Ford, Corey Silverstein from Silverstein Law, QRush.com’s Jim Austin, Tim Henning from ASACP and Segpay’s own Chris Clark.  This discussion will take place at 5 p.m. PST.  

Segpay’s Cathy Beardsley will also join two panels tomorrow, January 13th; at 4 p.m. PST for The Town Hall 2021 where the Free Speech Coalition will be discussing the top issues facing the adult industry and at 5 p.m. PST for the State of the Industry where panelists will share their predictions for the year to come. 

Access to these virtual seminars and all of XBIZ 2020 will be granted by XBIZ.net.  Hope to see you there. 

What’s Ahead for Payments as 2020 Comes to an End

If there ever was a year filled with change, it was 2020.  As we embrace the new year to come, it is important to note that there are two additional changes hitting the payments industry across Europe on January 1st: Brexit and PSD2. 

In her latest XBIZ Column, Cathy shares what these changes mean to you and how you can best prepare for them.

“For most with these changes, processors will do the heavy lifting,” said Segpay CEO Cathy Beardsley.  “For example, with Brexit, we received our EU license opening our Ireland entity back in September and Segpay is in full compliance all our European merchants need to do is sign an agreement with our company in Ireland to continue processing seamlessly.”

To read Cathy’s full column click here.

Awards Season Shines Spotlight on Segpay

We are humbled and excited to announce Segpay is nominated for two 2021 XBIZ Awards and two XBIZ 2021 Exec Awards. We want to send out a big THANK YOU to everyone who nominated us.  This week, Segpay received nominations for: Payment Services Company of the Year- IPSP and Payment Services Company of the Year – Merchant Services. Last week CEO, Cathy Beardsley was nominated for Chief Executive of the Year and Kristi Greer for Brand Ambassador of the Year.  According to XBIZ, these annual awards honor the best of the best, celebrating outstanding company and career achievements across a wide variety of prominent industry roles.

“We started Segpay with a very simple premise, that our merchants would always get paid before we do.  That premise is now a promise and is how we operate every day.” said Segpay CEO Cathy Beardsley.

How and When to Vote 

  • Vote here for the XBIZ Exec Awards on XBIZ.net now through Wednesday, November 25th
  • Vote here for the 2021 XBIZ Awards which begins Monday, November 23rd for the XBIZ Awards.

The awards will be presented as part of the virtual edition of the XBIZ Show January 11 -14th 2021.  We are proud of these nominations and hope the XBIZ voters will consider us worthy of their votes.  We look forward to seeing you virtually at the party in January.

How to Thrive in the ‘Cancel Culture’

This year has tested everyone’s survival skills.  Many businesses are taking a hard look at their overall risk analysis.  As a company, Segpay goes through several different audit functions and explores multiple risk scenarios to investigate what could potentially put our company in harm’s way.  We look at things like security risks during our payment card industry compliance audits to make sure our systems are redundant and can’t be penetrated by outside intrusions.  It’s vital to make sure all our data is secure.  We also review our financial risk through annual accounting audits and our regulatory risk when preparing our annual updates to policies and procedures.

In Cathy’s latest XBIZ Column Cathy shares tips from the Segpay risk analysis team to reveal the top ways to conduct your company’s brand risk analysis.

“Many of us do all these risk assessments but leave one important area open: our company’s brand risk,” said Segpay CEO Cathy Beardsley.  “It’s an easy target and if you don’t have a detailed protection plan in place a worst-case scenario could bring your business down.”

To learn more about how to survive in this cancel culture read the full column here.

The Wake of the Wirecard Fallout

When one of the largest FinTech companies in Europe filed for insolvency last June, shockwaves were sent across the banking community.  Wirecard, once a darling of the industry, was put into the spotlight after it was unable to pay the money it owed and was in serious trouble after a group of outside auditors identified $1.9 billion in cash missing on its balance sheet.  This behavior comes with some serious consequences and the fallout will impact everyone.  In Cathy’s latest XBIZ column, Segpay’s compliance team identified the top ways Wirecard’s mistakes will impact businesses around the world. 

“Expect to see more scrutiny of operations,” said Segpay CEO Cathy Beardsley.  “For example merchants now need to provide proof of processing not only to show fraud and chargeback rates, but to also to show what volumes they truly are processing.”

Card brand and acquirers are now digging deeper into the finances of banks, processors and payment facilitators which is why it is so important for merchants to work with a regulated entity.  To learn more about what this could mean to you read the full column here.

Three Ways to Ensure You’re PCI Compliant

Keeping your online business inline with industry rules and regulations isn’t easy. It’s a time consuming, yearly process but one that is vital to staying in compliance.  The annual Level 1 Payment Card Industry (PCI) Audit is the deepest dive that a group of outside security auditors will do on a payment system to be sure its secure.  This weeklong, on-site audit is required for licensing in both the U.S. and the EU and can take a team up to an entire year to get ready.  In Cathy’s latest XBIZ Column, she and Segpay’s IT Director share the top three ways to help narrow down what to focus on for the 2021 PCI Audit. 

“Having processes like end-to-end monitoring and analytics, along with metrics and logs across the full stack, are extremely helpful to get a bird’s-eye view of what’s going on in your company,” said Segpay CEO Cathy Beardsley. 

One of the most important things to work on is cyber security and protecting yourself.  You must be proactive, not reactive especially mitigating issues before they have an impact on a business.  Learn more about the steps you can take to protect the health and safety of your business in the full column here.

The Adult Performer Independence Push

The adult industry is seeing a surge of growth from performers creating their own independence through self-management.  Growth of independent models managing their businesses on successful cam platforms spiked this spring when the Free Speech Coalition (FSC) announced a voluntary production hold to coincide with the Governor of California’s shutdown of all non-essential business.  With studio work frozen, studio performers scrambled to find steady income, moving to camming, fan sites and clip programs to survive.  In Cathy’s latest XBIZ Column, she shares the top three areas of entrepreneur support being built to help performers achieve business success.

“Registered payment facilitators in this space help direct funds on behalf of their merchants to their artists and there has been a critical need for a strong and rapid payout solution,” said Segpay CEO Cathy Beardsley. 

Segpay has worked to speed up settlements to merchants, while investing heavily into a payout platform to make it easier to direct payments on behalf of merchants to their artists.  Learn more about Segpay’s model and affiliate payout platform and other ways the industry is helping performers in the full column here.