FT. LAUDERDALE — Segpay closed out 2020 "significantly up in overall revenue" despite the global challenge of the novel coronavirus, and attributes the record growth largely to camming, the company has announced.
"Cam merchants outperformed all other market niches representing more than half of Segpay’s transaction volume, growing 55% year-over-year," a rep noted. "Subscription-based merchants also powered Segpay’s growth, up 33% year-over-year."
"This year commemorated Segpay’s 15 years in business and despite the challenges of the pandemic, it overcame and thrived adding dozens of new clients along with integrating PayPal into its payment processing platform," added the rep. "Segpay’s continued compliance commitment throughout the payments industry helped it obtain its E.U. Payment Institution license from the Central Bank of Ireland months before the Brexit transition deadline allowing it to open its European Union office in Dublin, Ireland. With the opening of this branch, Segpay has offices and outposts in six countries around the world."
The rep detailed Segpay's additional accomplishments in the past year:
- Implementation of Strong Customer Authentication (SCA) and 3D secure 2.0 making it fully compliant ahead of PSD2
- Launching system-wide enhancements to its Merchant Services Platform including the addition of its real-time reporting tool, System Status Page and new Merchant Portal
- Expansion of its Multi-Currency payment options with new local currencies in four additional regions of the world
- Performed updates to its API process providing advanced transaction information ahead of upcoming French age verification laws
- Grew the Segpay employee base in South Florida
“We made cams our focus five years ago and modified our system, streamlining and simplifying the checkout process to best support this segment,” Segpay CEO Cathy Beardsley said. "Our risk tools are configurable by merchant, country and user level bringing flexibility to serve each merchant’s unique needs and requirements."
"Investing in additional payment options has been a great way to offer more value to our clients and we continue to work towards expanding those offering in 2021,” Beardsley added. "No matter what lies ahead, we plan to release new solutions from our amazing team continuing to be there with our clients 'All the Way to Paid.'"
For more information, contact sales@segpay.com.
