The payment processor Segpay recorded significant growth in revenue in 2018. The company was able to increase its turnover by 35%. No concrete figures were made public.
Segpay, the payment processor specialising in processing credit card payments, has published some key figures about its business. The company was able to report sales growth of 35%. According to Segpay, the rapid sales growth is mainly due to continued growth within the cam sector. Sales for gateway services and direct sales sites have also increased.
In the past fiscal year, the company was also able to secure renewed certification for the EU. Segpay has also launched the new Post Pay, Free Trial Validations and Single Use Promos tools, which are particularly useful for cam and direct sales sites. In addition, Segpay also signed a cooperation agreement with AVSecure, which means that the processor is prepared for the increased age verification requirements in the UK market.
Segpay’s CEO Cathy Beardsley comments: »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. 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 additions to the product range, Segpay has increased its workforce, particularly in development. In conjunction with the new slogan »All the Way to Paid«, the company believes it is well equipped for the future.
Jeff Rosenzweig is VP for Operations at Segpay. He too commented on the business development: »Investing in great people offers a bigger pay-out for our merchants, and together we will continue to grow in 2019. In the coming year, we will develop more tools for our merchants in the fraud mitigation and customer retention categories.«
More information can be found on the company’s website. To access it, click here.