FT. LAUDERDALE, Fla. (July 5, 2018) – Segpay, a global leader in digital payment processing, has been named the 2018 AW Awards Payment Company of the Year. Segpay was given the honor at the 5th annual AW Summit in Mamaia, Romania during the AW Awards Gala in June. The AW Summit is Europe’s largest cam industry conference, bringing together professionals in the adult live cam space.
Votes from the adult cam community-supported Segpay in winning this year’s title, which recognizes the company’s large commitment to the fast-growing cam industry. Segpay’s efforts to develop targeted products and processes have helped its cam business grow by 41%.
“We understand the unique challenges the cam market faces, in particular when it comes to managing risk,” said Cathy Beardsley, CEO of Segpay. “We are comfortable in the high-risk space and will continue to intensify our focus in this area to benefit both cam merchants and consumers.”
“Segpay’s tailored risk management solution helped us grow quickly and mitigate the unique risks associated with the cam market,” said Alexandra Lee, Press Secretary of Bonga Cams. “They worked with us hand in hand, and together we were able to fine-tune Bonga Cams’ risk profiles. In the process, Segpay gained knowledge that benefited their entire merchant base.”
Segpay has several offerings focused on the risk side of the cam industry, such as 3-D Secure (3DS) authentication – a.k.a., Verified by Visa, and Mastercard SecureCode – a tool that is increasing conversions for its merchants while reducing chargebacks substantially. Merchants can also set up customizable velocity checks on spending limits, geography, and/or the age of the consumer. Segpay also helps its merchants bolster approval rates by routing U.S. and E.U. traffic through acquiring banks in their home region – and by allowing merchants to settle funds in the currencies paid (for USD, Euro, and GBP), helping merchants avoid the costs associated with converting those specific currencies.
“We are a global company and with Segpay we are no longer losing money on currency conversions costs,” said Ela Darling, creator of CAM4VR. “We are able to offer payment in dollars, euros, or pounds and settle in the currencies paid.”
Post Pay is another new initiative, designed specifically for cam sites and similar services, allowing a merchant to authorize a specific dollar amount upfront, ensuring that a credit card is valid and has the funds available. After the initial authorization, the merchant tracks how much the consumer has spent on their smaller purchases, and when the consumer is either finished buying or has spent the entire amount authorized, the merchant can capture the total amount and finalize the transaction.