FT. LAUDERDALE, Fla. — Segpay is reporting a strong close to 2018, with the company seeing a 35 percent boost in overall revenue, which it notes is the company’s 13th consecutive year of growth.
According to the company, its revenue increase is attributable to the growing market for cam sites, along with increased revenue from gateway services and direct merchant placement.
In addition to its revenue growth, Segpay had a number of other accomplishments in 2018, including becoming the first U.S.-based “high risk” processor to comply with the EU’s PSD2 regulation, via its re-certification as a U.K. Payment Institution.
Segpay also introduced new tools to help merchants grow their businesses, including Post Pay (for cam sites), Free Trial Validations and Single Use Promos; while an expanded operations and development team along with a partnership with AVSecure for age verification services, poised the company for more future success.
“Our increased investment in Segpay over the past two years has made us a stronger competitor in the growing cam market, and for subscription-based services in general,” Segpay CEO Cathy Beardsley says. “We now offer a total package of merchant services, and it shows in our accelerated growth during 2017 and 2018.”
Along with these investments and enhancements, Segpay expanded its operations, more than doubling its development team. In 2018, Segpay also launched its new brand identity and tagline, “All the Way to Paid,” reinforcing its exceptional customer care in the worldwide, online payment processing category.
“Investing in great people offers a bigger pay-out for our merchants, and together we will continue to grow in 2019,” Segpay VP of Operations Jeff Rosenzweig says. “In the coming year, we will develop more tools for our merchants in the fraud mitigation and customer retention categories.”
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