FT. LAUDERDALE, FL — SegPay internet payment processing services is growing among numerous international markets because of new offerings, expanded service and a greater emphasis on security. New services for clients in the European Union highlight these efforts. In particular, a new payout structure that was launched today makes SegPay the only IPSP in the EU to convert payouts directly through the acquiring bank, making the process more secure. This model mirrors the payout process for its U.S. clients.
Over the past year, SegPay increased its EU client base by nearly 18 percent. SegPay has also seen an increase in number of transaction and the volume of transactions coming from the EU.
“International markets have proved a major growth area for SegPay,” said Cathy Beardsley, CEO of SegPay. “We ensure that we are not only compliant with all regulations, but provide industry leading service to make sure our clients get paid before we do. The strategy has paid off with more clients picking SegPay for their IPSP needs.”
Previously, SegPay used a third party trust to convert EU payouts. By switching payouts to come directly from the bank, SegPay furthers its mission of keeping client funds secure. Other benefits of the new service include:
- Client funds are always held by SegPay’s acquirer
- New service helps maintain compliance with MasterCard’s Payment Facilitator Model
- Conforms to the EU Payment Services Directive for safe guarding client funds
SegPay began moving EU payouts to its acquirer in August and has now completed the transition for all EU IPSP clients.
