Payment processors are behind-the-scenes players in the world of ecommerce, yet their role is critical. Ensuring secure, seamless transactions while navigating a rapidly changing regulatory landscape requires both technological expertise and business acumen.
Over the past 20 years, Segpay has demonstrated both in abundance.
When you have a strong company culture, people want to stay and grow with you. That continuity helps us deliver exceptional service. Our people are the heart of Segpay.
From being an early pioneer in high-risk payment processing to becoming a major payment processor for the adult industry and continuously expanding into new global markets, Segpay has consistently stayed ahead of the curve. The company has played a crucial role in providing secure and reliable transaction services to high-risk merchants, ensuring compliance in an industry often disproportionately saddled with regulatory challenges. This has made Segpay a driving force in online payment processing, hailed as a beacon of innovation, compliance and unwavering customer service.
The two-decade journey from a small startup to a globally recognized financial technology company that processes over $60 million in transactions each month has been marked by major regulatory shifts, evolving fraud challenges and the constantly shifting landscape of digital payments. Now, as Segpay celebrates its 20th anniversary, a look back along the road to this milestone reveals a company that has never stopped evolving, demonstrating that success is not just about growth — it’s about sustaining innovation and meeting challenges with resilience, adaptability and strategic foresight.
A Leap of Faith
In 2005, Cathy Beardsley founded Segpay in response to the shifting regulatory landscape in Europe. At the time, Visa and Mastercard had begun requiring EU-based merchants to process payments through an EU acquirer. Sensing an opportunity, Beardsley launched Segpay as one of the first internet payment service providers (IPSPs) focused on high-risk industries in the European market.
“There was a business need, but also a personal need,” Beardsley recalls. “When I resigned from my previous company, I found out I was pregnant with my daughter the same day. I felt that most companies wouldn’t hire someone who was pregnant, so starting Segpay was an opportunity to strike out on my own. In hindsight, it seems like a crazy idea! But luckily, everything worked out.”
By 2007, Segpay had expanded to the U.S., securing IPSP status and opening its doors to a broader client base. The company quickly made a name for itself by prioritizing compliance and consumer security, setting a high standard in an industry that was still finding its footing.
“Building a payments company takes patience, resilience and a commitment to compliance,” Beardsley says. “The early years were a grind, but sticking with it, growing with a great team and doing things the right way has been worth it. Segpay has always been my baby — but now, it feels like we’ve sent it off to college, ready to grow even more.”
“Wow, We Did It!” Moments
In 2006, Segpay became the first payment processor in the adult space to offer 24/7 consumer support, a commitment to service that remains a cornerstone of its operations today.
“Segpay stands out because of our relentless focus on compliance, security and 24/7 customer support,” says Beardsley. “We put our merchants first with fast, reliable payments and proactive fraud protection. Winning awards like XMA Payment Services Company of the Year reflects the trust our partners place in us, and our commitment to delivering the best payment solutions in the industry.”
By 2013, Segpay became the only processor in the space to receive certification from the U.K.’s Financial Conduct Authority, further cementing its reputation as a leader in compliance and financial security. In 2015, the company launched live chat customer support, and earned the Cybersocket Best Alternative Billing Company award.
That same year, to celebrate its 10th anniversary, Segpay sponsored a NASCAR racer. The sponsorship served as a bold statement, symbolizing the company’s growth and reinforcing its brand recognition beyond the fintech world. Photos from the event show Segpay’s branding proudly displayed on the car, an achievement that Beardsley and her team still fondly recall.
By 2017, Segpay had outgrown its original headquarters and relocated to a larger office in Deerfield Beach, Florida, tripling its office space to accommodate its expanding team and operations.
“Every time we’ve expanded, it’s been a reflection of our success and growth,” Beardsley affirms. “But more importantly, it’s been about making sure we can continue to support our clients at the highest level.”
In 2020, the company took another significant leap forward by opening its European Union office in Dublin, Ireland, while simultaneously securing a strategic partnership with PayPal, which helped broaden its reach and strengthen its global presence.
“That partnership was a game changer,” Beardsley notes. “It opened the door to new merchants and helped our business skyrocket.”
Always looking toward the future, Segpay embraced cryptocurrency payments in 2023, enhanced its data centers and introduced new chargeback and compliance tools to protect both merchants and consumers. Most recently, in 2025, Segpay expanded into bank-to-bank payments with the launch of SEPA for European transactions and extended its services to the Australian market with the introduction of Segpay Australia, further establishing itself as a global leader in payment processing.
“Earning our U.S. IPSP status allowed us to compete in the U.S., but we didn’t stop there,” Beardsley explains. “We became the first payment provider in our space to secure a U.K. Payment Institution License, followed by our EU Payment Institution License — ensuring we were prepared ahead of Brexit.”
Another of Segpay’s proudest achievements is its workplace culture, which led the South Florida Sun Sentinel to list the company among South Florida’s top places to work. Two employees, Kristi Greer and Brenda Mathias, have been with Segpay since its inception, a testament to the company’s employee-first philosophy.
“They have been with us since day one, and that’s something I’m really proud of,” Beardsley says. “When you have a strong company culture, people want to stay and grow with you. That continuity helps us deliver exceptional service. Our people are the heart of Segpay.”
The Future of Payments: Crypto, SEPA and Beyond
Staying ahead of the curve has been one of Segpay’s secrets to success. With the financial world rapidly evolving, the company has taken proactive steps to integrate emerging technologies while keeping security and compliance at the forefront.
“We’ve always been a client-driven company — listening, adapting and turning needs into real solutions,” says Beardsley. “That’s how we approach new system features and why we keep a close eye on the changing payment landscape.”
One example of this forward-thinking approach is Segpay’s adoption of cryptocurrency in 2023. While digital currency transactions hadn’t yet become mainstream in online commerce, Segpay saw the potential and ensured it was prepared for future adoption.
In addition, Segpay has made significant investments in bank-to-bank payments, expanding its services to include SEPA payments for European merchants.
“As the world shifts toward bank-to-bank payments, we’re making sure those options are available,” Beardsley notes. “And as we look to expand our geographical reach in the adult space, we’re excited to launch Segpay Australia this year, opening new doors for merchants in the region.”
Segpay is equally focused on refining its fraud prevention and chargeback management systems. As cyber threats continue to evolve, the company is committed to staying one step ahead by implementing new fraud detection technologies and compliance solutions.
“Security has been our top priority since day one,” Beardsley emphasizes. “We’ve continuously upgraded our infrastructure, implemented the latest fraud prevention tools and maintained full compliance with evolving PCI standards to keep businesses and consumers safe.”
Compliance plays a central role in Segpay’s operations, as the company ensures its merchants meet regulatory and card brand requirements while keeping fraud and chargeback rates under control.
“Our Risk and Compliance team is the second largest at Segpay for a reason: we work around the clock to block fraud, manually review flagged transactions and ensure our merchants stay compliant,” Beardsley adds. “Our merchants, partners and I sleep well at night knowing we have these controls in place.”
Hard-Earned Wisdom
Running a company for two decades comes with invaluable lessons, both professional and personal. For Beardsley, the journey has been filled with learning curves, pivotal moments and a deep understanding of what it takes to build something lasting.
“If I could go back and give 2005 Cathy one piece of advice, it would be to have the confidence I have now,” Beardsley reflects. “But I think part of our success was driven by the journey itself and the hills we had to climb.”
One of the biggest challenges Segpay faced came in 2011, when its sole EU acquiring bank decided to exit the space. The sudden change left Segpay scrambling to secure new banking partners.
“I barely slept trying to solve the problem,” Beardsley recalls. “But thanks to our strong card brand relationships, a new acquirer took a leap of faith, and we’ve been partners ever since. That experience taught me a valuable lesson. Today, Segpay is backed by multiple acquiring partners, ensuring we’re never in that position again.”
A Mission to Empower Women in Fintech
As a leader in the male-dominated fintech industry, Beardsley has carved out a space for herself through perseverance, strategic thinking and an ability to adapt. She has been recognized on Forbes’ “50 Over 50” list and has made American Banker’s “Most Influential Women in Payments” list multiple times.
Throughout her career, Beardsley has championed the importance of women in leadership roles, and she emphasizes the need for more female representation in fintech, especially within the adult industry.
“I think sometimes as women, we feel we need to trade off being a mother or wife over having a robust career,” Beardsley observes. “As someone who filled all those roles without the help of a nanny or any at-home help, there were challenging days. As a female leader, I am empathetic to my team members’ daily challenges as I have gone through many of them too.
“Women have a knack for managing multiple challenges at once, which helps us become successful leaders,” she adds. “There are fewer female leaders in the workplace, so we stand out. That can be a big plus.”
For aspiring female leaders, Beardsley’s advice is simple: Believe in yourself, embrace challenges and don’t be afraid to take risks.
Entering its third decade, Segpay is poised to continue pushing forward, maintaining its focus on global expansion, payment security and innovative financial solutions while staying ready for whatever new surprises and challenges may lie ahead.
“It has gone fast,” Beardsley reflects. “But I enjoy the challenge of making the company more successful each year. I still have big plans for Segpay.”
