Product and marketing strategies tend to get the most attention while running a business day-to-day – making it easy to lose sight of the little things that help sustain a successful operation. In her latest piece published on XBiz.com, SegPay’s CEO Cathy Beardsley lays out a list of 13 essential (if non-sexy) steps that some businesses overlook at their peril:
Please read XBiz.com’s informative look at best billing practices for merchants, published this week. We appreciate that they asked SegPay to participate and we (of course) highly recommend the article. There’s lots of helpful information in there, including the following quote from our CEO Cathy Beardsley about the importance of being prepared for audits:
“At any given time, we can be called for an audit by our acquiring or operating banks. We, as billers, are required to have all our KYC (Know Your Customer) documents up to date, and all sites in compliance, both in terms of content and website documentation (e.g. merchant address included on the website),” Beardsley explains. “As a merchant, it is crucial that you keep your business records up to date. How well organized SegPay is in the eyes of the card brands, acquirers and other banking institutions goes a long way in our success.”
Better late than never to share our article, “Best-Performing Affiliate Programs Rely on Mapped-Out Objectives,” written by Cathy and published in August by XBiz.
Please check out, Tips to Master Customer Subscription Retention, by Cathy, published on XBiz.com.
Churn of your subscription customers is one of the most important factors to look at when measuring the health and longevity of your business. Recurring billing models always see some regular churn, it’s just the nature of business with subscription programs. Merchants experiencing a higher-than-normal churn rate are losing out on potential profits, but the good news is they can implement marketing strategies to cut these rates and retain their base.
Check out Cam Merchants Should Be Wary of Fraud, by SegPay CEO Cathy Beardsley, published on XBiz.com. The article explains how Cam sites, or any business where customers can “feed the meter” by making multiple payments to extend a session, can limit risk. For example:
A huge thank you to XBiz for publishing “Billing Solutions that Best Suit a Merchant’s Needs,” authored by our CEO, Cathy Beardsley in the April issue. The article helps merchants choose the best payment processing solution for their business. Here’s an excerpt:
Most merchants in the high-risk space fall into one of three processing categories: They either need the assistance of a payment facilitator to help manage risk, a payment gateway to take control of their credit card processing internally or a combination of the two solutions. Each model fits a different stage of a company’s lifecycle.
Let me share some details around each option in hopes of helping you make the best decision for your business.
Read the full article on XBiz.com.
SegPay is in the news, and we wanted to share a few stories that recently appeared online:
SegPay, headquartered in South Florida for more than a decade, provides payment processing services for digital merchants in need of recurring billing solutions. Later this year, SegPay plans to expand further across Europe.
Digital processing company SegPay has relocated to Deerfield Beach from Coral Springs.
South Florida Business Journal (subscription required):
SegPay specializes in high-risk credit card processing for online merchants and has called South Florida home for more than a decade.
Digital payment processor SegPay tripled the size of its office floor space when the company relocated its headquarters from Coral Springs, Fla., to Deerfield Beach, Fla., Thursday. According to Chief Executive Officer Cathy Beardsley, the larger office space will allow SegPay to increase staff in preparation for a European expansion.
SegPay, a leader in digital payment processing, is relocating its corporate headquarters within South Florida, moving from Coral Springs to Deerfield Beach on Thursday, tripling the size of its office space to accommodate additional staff to support a growing client base.
Beardsley said that SegPay plans to continue to grow its workforce throughout 2017 and into 2018 to meet the needs of its merchants. This follows a year of investment in systems and staff that led to a 24 percent growth in overall revenue, she said.