FT. LAUDERDALE, Fla. (May 17, 2018) – Segpay, a global leader in digital payment processing, announced today its reauthorization as a Payment Institution (PI) in the United Kingdom. Under Passporting rules, the PI license puts Segpay in compliance with the EU’s updated Payment Card Industry Data Security Standard (PSD2), meaning the company meets the enhanced guidelines for protecting client payment and account data, and can continue providing payments services in the U.K. and the EU.
“Compliance with PSD2’s stronger requirements on data security and consumer protections maintains Segpay’s reputation as a secure, trusted provider,” said Cathy Beardsley, CEO of Segpay. “Our policies and procedures are ahead of our competitors and receiving this authorization demonstrates our continued commitment to go above and beyond to be a leader in compliance.”
Segpay is the only US-owned “high risk” processor certified as compliant with the new EU directive. Processors opting out of the certification process potentially expose themselves to the possibility of rejection from banks who in the future may not want to work with processors who aren’t certified as compliant.