Awards season is coming up and we are excited to be nominated in two categories of the 2020 YNOT Awards: Segpay is nominated for Best Billing Company and Segpay’s CEO, Cathy Beardsley is nominated for Businesswoman of the Year. We pride ourselves on putting our merchants first and are humbled by this recognition. Thank you YNOT and everyone who nominated us!
“The YNOT Awards recognizes excellence in the adult entertainment industry specifically in the business to business space.”
Voting is taking place now through November 25th and the winners will be announced at the 10th Annual YNOT Awards Show as it commences virtually on December 3rd, 2020. All voters must be registered, you can set up your account here.
We are proud of these nominations and hope the YNOT voters will consider us worthy of their votes. We look forward to seeing you virtually at the party.
Segpay is pleased to announce the expansion of its Multi-Currency options adding Dynamic Multi-Currency (DMC) for U.S. Merchants and the addition of four local currencies: Russian Rubles, Czech Koruna, Indian Rupees and Israeli Shekels. These additions bring Segpay’s total number of supported local currencies to sixteen, assisting merchants marketing abroad by simplifying the conversion process. The expansion also allows merchants to offer these local currencies in four additional regions of the world ahead of the busiest shopping season of the year.
“This year it’s predicted that ecommerce holiday sales are expected to surge between 25 to 35 percent,” said Cathy Beardsley, Segpay President and CEO. “By using DMC our merchants and their consumers don’t have to worry about exchange rates and unpredictable dollar fluctuations allowing them to concentrate on their business while we continue to get them paid.”
Offering multiple currencies eliminates the fluctuation between the dollar and the other local currencies. Merchants with Segpay’s DMC enabled in their payment package(s) will automatically have access to the new currencies. To learn more about Segpay’s Dynamic Multicurrency enabled payment packages please contact firstname.lastname@example.org. Read more on the additions in Segpay’s recent media coverage in YNOT.
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.
Damage related to cybercrime is projected to hit $6 trillion annually by 2021. No matter how careful you are, everyone is vulnerable to a cybersecurity attack.
“Preventing cyber-attacks isn’t easy, as a company we go through a stringent Level 1 Payment Card Industry (PCI) compliance audit in the U.S. and EU,” said Segpay CEO Cathy Beardsley. “This audit helps us protect merchants who use our services and is required by our major credit partners.”
Attacks against e-commerce applications are by far the leading cause of breaches in the retail industry. Now that the entire world is using credit more for contactless payments, it’s very important to make security one of your top priorities. In Cathy’s latest column Three Tips to Increase Your Subscription Site’s Security she offers advice on what merchants can do to protect their business by prioritizing security. You can read the entire column here.
Just weeks after opening an office in Dublin, Ireland Segpay, a global leader in digital payment processing, announced an expansion of its employee base in South Florida.
Segpay has added two fulltime Sales Support Representatives to its team and promoted a long-term company veteran to lead the group. Kristi Greer, who has been with Segpay for 15 years has been promoted to the role of Director of Sales. She will also continue to oversee Segpay’s Merchant Services Group. Ruben Perez and Patricia Ucros join Segpay and will report to Greer.
“Kristi is a dedicated, high performing member of Segpay’s sales team and a key part of our overall success, we’re excited to promote her to this important position,” said Segpay CEO Cathy Beardsley.
Segpay also hired Raphael Rattray-Morris as its new Customer Service Manager and promoted Caroline Karolinko to Marketing and Sales Support Manager and Sastra Maharaj to Accountant.
“As we continue to grow our business, it’s just as important that we nurture and recognize employee excellence,” said Beardsley. “We felt it was necessary to acknowledge these key individuals who show up and step up each and every day at Segpay.”
Segpay is pleased to announce system-wide enhancements to its merchant services platform, improving the suite of solutions offered to merchants in several areas from real-time reporting to more simplified client management pages.
Segpay’s new Systems Status Page reports any issue in real-time going back over the past seven days. It’s designed as a performance tracker of all systems and will describe any incidents as well as if and how it was resolved. Merchants can subscribe to receive text and email alerts from the System Status page managed by Segpay’s IT department.
“We are the first company in the space to offer this real-time reporting tool for our merchants furthering our missing of being transparent with our clients throughout the payment process,” said Jeff Rosenzweig, Segpay VP of Operations.
Also included in the enhancements is Segpay’s new Merchant Portal, and an updated API process. To read more follow Segpay’s recent media coverage in YNOT, AVN and XBIZ.
Segpay is pleased to announce the opening of its European Union office based in Dublin, Ireland. Segpay recently received its EU Payment Institution license from the Central Bank of Ireland ahead of BREXIT. This will cover all Segpay payment and merchant services in the EU and it will also maintain licenses in the UK for all UK based merchants.
“We’ve spent countless hours preparing for Brexit because it was so important to have our merchants remain on solid ground when Brexit officially goes into motion,” said Cathy Beardsley, Segpay President and CEO. “Now that we have an office and license in place, our merchants can continue to focus on their business as we work with acquirers to keep processing running smoothly during this transition period.”
With the opening of its subsidiary in Ireland, Segpay now has offices and outposts in six countries around the world. Read more about the opening of Segpay Ireland featured in YNOT and XBIZ.
We are excited to announce the Segpay’s new merchant portal is officially open to all merchants and is now our default merchant portal. We want to give a big shout out and heartfelt thanks to all our beta merchants who have been giving us feedback as we went through the testing phase. We are so pleased and excited about the performance improvements. Users will find it easier to navigate with a modern look showcasing Segpay’s powerful functionality. As we mentioned in a previous blog, the most noticeable change is the additional space found at the top of the pages which will allow for more room for search results to be displayed.
Segpay’s documents are also being updated to add screen shots to reflect the new design. Keep an eye on the recently edited section for the most recent changes. If for any reason you have any challenges with the new portal you can always use the button at the top right of your browser to return to the old portal. The old portal will open a new tab. If you find that some of your bookmarks to individual pages in the old portal break and direct you to the new portal, you can just use the top menu to navigate back to the page you had bookmarked and create a new one.
Try it out and let us know how you like it. We want to hear from you. Please reach out to us and share your experiences. You can use the bug reporting icon at the top left corner of the merchant portal or speak to someone at Sales@Segpay.com.
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.
We’re always on the lookout for changes that will impact our merchants. Visa recently announced it’s updating the guidelines for its High Brand Risk (HBR) program. The program sets the global acquiring standards for reducing exposure associated with high-risk transactions. These changes will be implemented by early next year and here are a few things you should expect:
Visa will require high-risk merchants processing card not present transactions to be registered.
There will be a $500 registration fee charged once the program begins along with an annual $500 renewal fee.
Registrations will be completed by April 17, 2021 and you’ll be charged on this date even if your actual registration was earlier.
The annual renewal feel will be charged in September of each year starting September 2022.