SegPay stands for Segregated Payments. SegPay is a registered EU based Internet Payment Service Provider (IPSP) for online merchants of all kinds.
It is a whole new way for webmasters to view their payment security on the Internet. In the normal model of third party processing, the bank pays the processor, and then the processor distributes funds to the sub merchants. The traditional third party credit card processor typically held client funds for up to one month before releasing to their clients for payout, and if there is a problem, the processor has discretion as to which merchants get paid first. *Under the SegPay model, all client funds are held by the bank until the time of payout*.
SegPay has contracted with a third party auditor to provide a full audit on client funds owed as well as facilitate the release of these funds. This way, online merchants can sleep at night knowing that their funds are safe and will be paid. *The processor never touches your money, it is paid from the bank, through the auditor and direct to the sub merchant.*
This segregation of funds is standard in the financial services industry; indeed, any failure to do so would be highly illegal. SegPay brings this important security facility to the eCommerce world.
SegPay has a state of the art system that provides real time credit card and check authorization services, automated password management systems, marketing tools, affiliate tracking, 24X7 real time sales reporting, and an online web interface to make account changes on the fly.
We have WEEKLY payouts, extremely competitive rates, and a very experienced staff that understand the needs of the webmaster/web merchant.