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by Irina Kings | Jul 26, 2018

Cathy Beardsley President and CEO Of Segpay

Cathy Beardsley  Owner, President, And CEO of Segpay. She is part of the industry for almost 20 years. Prior to Segpay, she worked for another payment processor…


Cathy Beardsley  Owner, President, And CEO of Segpay.

She is part of the industry for almost 20 years. Prior to Segpay, she worked for another payment processor in the space that fell into bad hands and was not treating merchant funds properly.

She decided to resign and on the same day she found out that she is pregnant. Had a few concerns but her former business partner had a solution.  Read on to find out more about Cathy and Segpay.

WCN: What did you do before Segpay and how did you decide to start on this project?

Cathy: Prior to Segpay, I worked for another payment processor in the space that fell into bad hands and was not treating merchant funds properly. I resigned, and on the same day found out I was pregnant with my daughter. I was very excited about leaving a bad company situation and having another baby. However, when I woke up the next day, I realized that no one was going to hire me if I was pregnant.

My former business partner asked if I would be willing to start an IPSP focused on the European market since there was really only one player in the space at that time. I said yes and let him know that I was pregnant. I assured him he wouldn’t notice any change in me, other than my belly getting bigger. That was 2005. We launched in April of 2005 as an EU IPSP/Payment Facilitator and earned our US license in 2006.

WCN:  What is your role in the company and what exactly are your day by day tasks?

Cathy: I am the owner, president, and CEO of Segpay. In 2015, I was able to buy out my partner.

Day to day tasks are varied but typically involve a focus on clients, compliance and licensing requirements, and marketing. We have added staff and strengthened our management team in the last two years, allowing me to be more visible in the market and spend more time on our relationships with clients, banks, and card brands.

WCN:  How does Segpay differentiate from other similar online payments?

Cathy: Among our primary competitors, Segpay is the only licensed Payment Institution in Europe. This re-assures merchant that we follow all regulatory requirements around protecting client funds and data.

We offer our clients more customization as well; we take the time to listen to what they need, and their feedback has often led to new products and services that benefit all of our clients. This kind of personalized client service has always helped set us apart from competitors.

WCN: Why should people choose Segpay?

Cathy: Along with our strong focus on regulatory compliance and data security, we offer merchants a full suite of services with a lot of flexibility. New clients can start on the Payment Facilitator model if they want simplicity, with Segpay handling virtually all billing tasks, including customer support; and then, as they grow, they have the flexibility to move to our gateway with their own merchant account, where they can handle more of the payments process on their own.

WCN: How does Segpay help protect online merchants?

Cathy: First of all, we protect merchants through proper licensing with the card brands, and through our license in Europe as a Payment Institution. Merchants can rest assured that they are working with a seasoned partner that is in good standing with our acquirers and the card brands. Segpay undergoes annual PCI security audits to ensure we are protecting merchant and consumer data; along with annual accounting audits in each of the jurisdictions where we operate.

Segpay recently achieved compliance with the EU Payment Service Directive 2 (PSD2) as well, through our reauthorization as a Payment Institution in Europe. We have also taken a major step toward compliance with the General Data Protection Regulation in Europe (GDPR) through our recent certification with Privacy Shield.

WCN: Do you send payments to models or collect them for the websites from customers, or both?

Cathy: We handle payments for merchants, and are looking to expand to model and affiliate payouts as well.

WCN: What makes Segpay special?

Cathy: Our people and our culture. The majority of the staff that started with me in 2005 are still here and many other team members have been with us for years. The company is like a family in many respects and I think that shows through to our clients. After all, they are part of the family, too, since, without them, Segpay would not exist.

WCN: Do you offer help with chargebacks

Cathy: Yes, managing risk and chargebacks represents a big component of our service. We combine our own proprietary risk system with Threatmetrix and 3D Secure. Our risk team works closely with each merchant to help create the proper risk protocols to protect their service. We know that each merchant is unique, with different business models and different sources of traffic, so customization is important.

WCN: Is Segpay compatible with the SESTA FOSTA new rules?

Cathy: Yes, both Segpay and our merchants are compliant with SESTA FOSTA.

WCN: Do you have any hobbies?

Cathy: I exercise every morning to start my day and like to play golf. I spend a lot of time at work and keeping up with three kids, so it can be hard to pick up new hobbies.

WCN: Do you have any volunteering projects?

Cathy: I recently joined the Board of the Free Speech Coalition. I also have three kids that are very active in sports and I volunteer on all their teams. My daughter participates on a local synchronized swimming team and I joined the team’s Board.

WCN:  Last but not least, where do you see yourself and Segpay in 5 years from now?

Cathy: Continuing to expand our market share in the adult space. To that end, we are pursuing an acquiring license in Europe, as well as Visa membership (we are currently Mastercard members).  We also plan to expand our services to more markets outside of adult.