Praxis Tech, founded in 2014, has emerged as a leader in the payment technology space with its innovative Payment Orchestration Platform, which is redefining how businesses manage their global payment operations. Born from the recognition that relying on a single Payment Service Provider (PSP) was limiting and managing multiple PSPs was complex, Praxis Tech set out to create a comprehensive solution.
The Journey
Praxis Tech's journey began with the launch of a cashier system for the FX industry. The impact was immediate and significant, boosting their first broker's transaction volumes by over 150% in the first year. This success spurred the company to refine its go-to-market solution and expand its platform to serve multiple industries.
Now, a decade later and with profits reinvested into product development, Praxis Tech's 4th Generation product stands as the leading Payment Orchestration Platform for the iGaming industry and serves over 1000 brands worldwide. In 2023 alone, the platform approved an impressive $4.5 billion in transaction volume, marking a 60% year-over-year growth.
The Praxis Advantage
Praxis Tech's platform is designed to boost transaction processes, elevate results, and fuel worldwide ambitions for businesses of all sizes looking to expand their global customer base or refine their payment infrastructure within a particular country. Through a single API integration, merchants gain access to over 600 PSPs and 1000+ alternative payment methods (APMs), enabling them to offer local payment options to international customers.
Praxis Tech offers more than just PSP aggregation. The platform includes advanced features such as:
- SmartRouting: Intelligently selects the best gateway for each transaction, improving approval rates while adhering to merchant-set specific routing rules for different countries and parameters.
- Decline RecoverySuite: Including 3DS Cascading and various retry mechanisms, this suite works to recover transactions that might otherwise be lost. It offers Open Banking gateways where available and displays lesser deposit amounts if the deposit fails due to insufficient funds.
- FraudProtection: A plug-and-play risk management solution integrated seamlessly with the platform, powered by Visa's Cybersource solution.
- Frictionless Payments: Enabling fast multi-currency checkouts, one-click deposits, automatic balance top-ups, and recurring subscription payments.
Mission and Values
Praxis Tech's mission is simple yet powerful: Accept More Payments. This mission drives the company to continually innovate and improve its offerings. The company is guided by its commitment to its clients' interests and this is reflected in its agnostic expertise, offering unbiased support on PSP selection based on cost, performance, and geographic coverage.
Global Presence and Team
With headquarters in Cyprus and a regional office in Dubai, UAE, Praxis Tech boasts a diverse team of over 135 "Praxians" representing more than 20 nationalities. This global perspective allows the company to provide tailored solutions to businesses worldwide, understanding the nuances of different markets and payment ecosystems.
Looking Ahead
As Praxis Tech continues to grow and evolve, it remains committed to its vision of powering global payments. The company is helping to shape merchant payment experiences to reflect user trend behavior and preferences, ensuring that businesses can offer the most relevant and efficient payment experiences to their customers.
For businesses looking to streamline their payment operations, increase revenue, and reduce organizational hassle, Praxis Tech's Payment Orchestration Platform offers a powerful, flexible, and comprehensive solution to navigate the complex world of global payments with ease and efficiency.
To learn more about how Praxis Tech can transform your payment processes and fuel your global ambitions, visit www.praxis.tech or reach out to [email protected] for a personalized demo.
