6 November, 2023

In focus: Praxis Tech

Optimising transaction pathways - Gambling Insider spoke with CTO of Praxis Tech, Guy Karsenti, to discuss the company’s efforts in pioneering iGaming payment orchestration

Since its launch, Praxis Tech has provided solutions to the challenges faced in the payment sector. Through robust, innovative and effective products, we have enhanced our clients’ approved transaction rate while at the same time improving the user experience they offer their clients. As pioneers in payment orchestration, we’ve optimised transaction paths to align with the specific needs of the online gaming industry.  


Our three products  


We offer three key products that meet our clients at their point of need, granting access to our vast network of 540+ PSPs, 1000+ APMs and 200+ currencies based on level of integration: 

Cashier: Our flagship all-in-one solution that provides a holistic UI and UXexperience, ensuring seamless end-user journeys.  

Direct API: Allows companies to maintain their existing cashier systems while connecting to our extensive network through one simple integration.  

Hosted Payment Fields: Our latest and most customisable product, this allows businesses to integrate our advanced features into their existing credit card payment forms.  

Boosting retention and conversion by emphasising user experience.  

User experience is a priority in our product design philosophy. Recognising the direct correlation between transaction success and user convenience, our checkout experiences are streamlined with user-centric UI and UX. They ensure that from the transaction’s start to its finish, users find the process intuitive and straightforward. 


Connecting to Global PSP 


Worldwide reach and connections are at the heart of our mission. We boast an extensive ever-growing network that spans over five-hundred payment service providers and over a thousand alternative payment methods, which we see increasing demand for. Having pre-integrated support for cryptocurrency acceptance has also been a key feature our online gaming merchants have benefited from, as they see their customers increasingly use this method year-on-year.  

Going a step further, we have geo targeted payment methods to ensure end-users across the globe encounter familiar and localised checkouts, enhancing their transaction experience. Our platform’s intelligent design can also detect and reroute payments during gateway downtimes. This advanced cascading capability ensures that our service remains consistent, even during peak traffic times, and our clients always enjoy high-quality service. 


Security in safe transactions 


The importance in security of transaction data cannot be understated and we’ve utilised the very best of the industry’s standards to protect and tokenise this data. From integrating with the best third-party risk management engines in the market, to adhering to ISO27001 and PCI standards, we’ve fortified our platform against any potential fraud or security breaches. End-users see the front-end of this when engaging with 3DS 2.0 Protocol checkout’s, which require code or biometric authentication to verify their identity. These affiliations, combined with our comprehensive in-house tools, ensures our clients and their customers can transact with peace of mind.  


Maximising approval rates 


Our Decline Recovery suite is a testament to our commitment to increasing transaction approval rates for our clients. Features like Smart Routing for transactions, background currency conversion that kicks in even if the gateway doesn’t support a certain currency and recovery by cascading card transactions through open banking gateways underscore our pursuit to reduce transaction declines. This focus has led to an incredible 13% increase in approved transactions by our merchants. Figures and metrics such as these underscore how Praxis is pioneering advancements in payment orchestration for the iGaming industry, driven by the belief that our success is measured by the success of our clients.  


Seamless CRM integrations 


We understand the value of time and have prioritised creating seamless CRM integrations for our new clients, ensuring they can efficiently integrate with us regardless of which tools they are currently using; facilitating faster business operations. Praxis is now integrated with more than 60 industry specific CRMs and platforms that support a smooth onboarding process, ensuring our clients can quickly connect to our advanced systems.