SegPay Called out for suspicious activity

[gonzo]

The Financial Services Commission has today issued a warning to the public regarding the above-named entities and associated websites.

During the course of its investigations, the FSC has noted online references that indicate that SegPay is a trading name used by Segregated Payments Limited, a Gibraltar company, which describe it as an Internet Payment Service Provider (IPSP).

The SegPay websites also appear to have been configured in such a way that these are also associated with the word ‘Gibraltar’ although the word itself does not feature on the web domains themselves.

Segregated Payments Limited may therefore be carrying on payment services activities in or from within Gibraltar.

Segregated Payments Limited is not regulated by the FSC, nor licensed under the Financial Services (EEA) (Payment Services) Regulations 2010, to carry on payment services activities in or from within Gibraltar.

The FSC therefore urges the public to exercise appropriate caution in respect of these entities, whilst it continues its investigations. People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities Search" section on our website at http://www.fsc.gi/fsclists/Search.aspx.

Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi

http://www.fsc.gi/enforcement/fscwarning0040.htm

[will76]

Originally Posted by gonzo

The Financial Services Commission has today issued a warning to the public regarding the above-named entities and associated websites.

During the course of its investigations, the FSC has noted online references that indicate that SegPay is a trading name used by Segregated Payments Limited, a Gibraltar company, which describe it as an Internet Payment Service Provider (IPSP).

The SegPay websites also appear to have been configured in such a way that these are also associated with the word ‘Gibraltar’ although the word itself does not feature on the web domains themselves.

Segregated Payments Limited may therefore be carrying on payment services activities in or from within Gibraltar.

Segregated Payments Limited is not regulated by the FSC, nor licensed under the Financial Services (EEA) (Payment Services) Regulations 2010, to carry on payment services activities in or from within Gibraltar.

The FSC therefore urges the public to exercise appropriate caution in respect of these entities, whilst it continues its investigations. People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities Search" section on our website at http://www.fsc.gi/fsclists/Search.aspx.

Any persons who are already involved in any dealings with the above entity and have concerns, should contact the Manager, Enforcement on +350 200 40283 or by e-mail to enforcement@fsc.gi

http://www.fsc.gi/enforcement/fscwarning0040.htm

TMM John success story. He said Segpay was a top notch stand up company and defended them, well until he sold a short time later.

Seapay, their slogan should be " the new ibill".

[RawAlex]

There has been a pretty endless parade of odd billing companies out there. You can find them with addresses that point to mailbox rental places, small homes in the UK, and all over the place. It's been a favorite technique of the cross billing crowd to not only have the most merchant accounts possible, but also to insulate themselves from problems as much as possible by owning not only the paysites and programs, but also the billing companies and the IPSPs as a result.

It's actually a bit like ESTdomains in this manner - try to control as many of the places that people will go to complain, and try to minimize the risk to your core business by wrapping yourself like an onion.

[gonzo]

Originally Posted by RawAlex

There has been a pretty endless parade of odd billing companies out there. You can find them with addresses that point to mailbox rental places, small homes in the UK, and all over the place. It's been a favorite technique of the cross billing crowd to not only have the most merchant accounts possible, but also to insulate themselves from problems as much as possible by owning not only the paysites and programs, but also the billing companies and the IPSPs as a result.

It's actually a bit like ESTdomains in this manner - try to control as many of the places that people will go to complain, and try to minimize the risk to your core business by wrapping yourself like an onion.

Kinda like Paxum the company that owns the dickpill scam wants to process your money instead of Chris Mallick.
Im guessing how it will end.

[will76]

Originally Posted by gonzo

Kinda like Paxum the company that owns the dickpill scam wants to process your money instead of Chris Mallick.
Im guessing how it will end.

Who in their right fucking mind would use Paxum. I know, just use it as a pass through and withdraw the money as soon as you get it. But, they are a penis pill company. They sell snake oil. None of them have experience with wallet type sites / credit card processing stuff. There is a 100% chance they will crash and burn. It might take a little longer, but as soon as they actually get big enough to fuck up on a large scale, their shit is going to implode.

[2muchmark2]

Originally Posted by will76

TMM John success story. He said Segpay was a top notch stand up company and defended them, well until he sold a short time later.

Seapay, their slogan should be " the new ibill".

We have been using Segpay for years now without a single problem, ever. They pay on time, and they are 4 and a half points cheaper per transaction than CCBill on top of that. Cathy, Jakub and the rest have gone out of their way to make sure we're happy, and have addressed every question promptly. You should give them a chance, at least as a secondary processor on a cascade.

[Evil Chris]

Originally Posted by 2muchmark2

We have been using Segpay for years now without a single problem, ever. They pay on time, and they are 4 and a half points cheaper per transaction than CCBill on top of that. Cathy, Jakub and the rest have gone out of their way to make sure we're happy, and have addressed every question promptly. You should give them a chance, at least as a secondary processor on a cascade.

Forget it Mark. Didn't you know this is the "tinfoil hat" gang?

[softball]

Originally Posted by Evil Chris

Forget it Mark. Didn't you know this is the "tinfoil hat" gang?

a swing and a miss

[gonzo]

Originally Posted by rhetorical

a swing and a miss

A brother has to get paid . . .

[softball]

Originally Posted by gonzo

A brother has to get paid . . .

Chris gets paid?

[2muchmark2]

Originally Posted by Evil Chris

Forget it Mark. Didn't you know this is the "tinfoil hat" gang?

Cathy & Crew have always been great to us and we've never had a single problem in all the years we have been working with them. Same for Epoch, Same for CCBill.

[will76]

Originally Posted by gonzo

Kinda like Paxum the company that owns the dickpill scam wants to process your money instead of Chris Mallick.
Im guessing how it will end.

Yeah the Paxum shit was hilarious when they launched. First they listed a mail box etc address as their business address. Then after receiving heat for not having a business location the guy lists a "rent by the month" office address in some crappy building as their physical location. Shortly after they started using the address to their physical location where they sell the dick pill snake oil as tbe physical address for paxum, the company that wants to handle millions of dollars of other people's money.

Im waiting for this one to implode, surprised they made it this long to be honest. It should be any day now.

[will76]

Originally Posted by 2muchmark2

We have been using Segpay for years now without a single problem, ever. They pay on time, and they are 4 and a half points cheaper per transaction than CCBill on top of that. Cathy, Jakub and the rest have gone out of their way to make sure we're happy, and have addressed every question promptly. You should give them a chance, at least as a secondary processor on a cascade.

No thanks, I will stay away from Ibill v2.0. Cathy was the CEO of ibill went it went to shit. She was also the one giving false promises to people to be paid. Segway was started with ibill ex top level employee's and even an ex ibill owner, all of which who were part of the ibill debacle that caused them to lose their processing and go out of business. When you burn me once (for 10's of thousands of dollars at that) that is the last time you will ever burn me because I will never give you another chance again. i'd rather go with a new start up before doing business with people who have already fucked me once.