SegPay Reports 30% Hike in Revenue

SegPay Reports 30% Hike in Revenue

FT. LAUDERDALE, Fla. — SegPay announced today that it finished 2017 on a strong note, reporting a 30 percent growth in revenue for its digital payment processing service. 

According to the company, 2017 marked its 12th consecutive year of revenue growth and brought a six percent lift year-over-year. SegPay implemented several new platforms and made significant upgrades in infrastructure throughout 2017 and expects even more robust growth in 2018. 

Among SegPay’s accomplishments in 2017 are the relocation of its corporate headquarters to Deerfield Beach, Fla.; the unveiling of an updated merchant portal; the development of its “Ideas Portal” allowing merchants to contribute to system enhancements; and the introduction of a robust affiliate marketing platform. 

“These infrastructure investments paid off by helping us streamline operations and improve efficiencies,” SegPay CEO Cathy Beardsley said. “We look forward to continuing to grow in the coming year.”

Along with system enhancements, SegPay also invested in talent and skillset by expanding its staff to support several new clients, technology advancements and additional resource growth. 

Additionally, SegPay has seen strong growth among cam sites, having captured 10 percent of the market share in that space.  he company also plans to continue growing beyond the high risk merchant category and will offer more alternative payment options to help merchants convert more sales in Europe and Latin America.  

“We look forward to building on the innovations we put in place in 2017, and can’t wait to see where 2018 takes us,” said Jeff Rosenzweig, SegPay's vice president of operations. “With our updated merchant portal and new affiliate marketing program in place, and our Ideas Portal giving merchants a strong voice about the tools and resources we build, we are better positioned than ever to grow our current business and attract more mainstream merchants who are looking for a reliable payment solution.”