In the dynamic world of digital transactions, Praxis Tech stands as a beacon of innovation, reshaping the landscape of online payments through its cutting-edge payment orchestration solutions. Since its inception in 2014, Praxis Tech has grown into a formidable force, offering businesses a seamless platform to accept payments online, enhance transaction approval ratios, and navigate the complexities of global expansion.
Unveiling the Essence of Payment Orchestration:
Payment Orchestration, a concept at the heart of Praxis Tech’s mission, involves the intricate integration and management of diverse payment service providers, acquirers, gateways, and banks through a unified software layer. Praxis Tech’s commitment to simplifying this orchestration process has positioned it as a leader in the field, empowering businesses to optimize their payments infrastructure and streamline global expansion.
Praxis Tech: Pioneering the Payments Revolution
In its seven years of operation, Praxis Tech has witnessed exponential growth, earning its reputation as a top payments orchestration platform. Specializing in providing solutions for merchants aiming to expand globally, Praxis Tech boasts integration with 540+ Payment Service Providers (PSPs) and over 1000 alternative payment solutions, supporting transactions in 200+ currencies.
Operating as a payment technology company, Praxis Tech takes a neutral stance, providing the essential infrastructure for merchants to accept payments and conduct payouts without participating in the transaction itself. This commitment to security and transparency sets Praxis Tech apart in the fiercely competitive payments landscape.
Three Pillars of Integration: Praxis Products
1. Praxis Cashier: Elevating Payment Experiences
Praxis Cashier serves as a hosted payment page, offering businesses a user-friendly interface for payment acceptance and withdrawals. The product opens the gateway to Praxis Tech’s extensive network of PSPs and Alternative Payment Methods (APMs), enabling businesses to accept payments through various methods tailored to specific countries and criteria.
2. Praxis Direct: Empowering Businesses through API Mastery
Praxis Direct functions as an API powerhouse, granting businesses instant access to a suite of pre-integrated solutions. This facilitates efficient management of payment flows without the need for extensive development. Key features of Praxis Direct include:
- Versatile API for Diverse Solutions: Praxis Direct’s API provides immediate access to a vast array of solutions, addressing diverse challenges across payment flows. Businesses can cherry-pick the payment solutions that align with their unique needs.
- Agile Credit Card Routing: The ability to dynamically manage credit card routing significantly impacts a business’s bottom line. Praxis Direct offers solutions to handle credit card routing efficiently, ensuring successful transactions and a smooth payment experience for customers.
- Efficient Onboarding of New Providers: Praxis Direct eliminates the traditional, costly process of onboarding new providers. Businesses can access and onboard new payment providers globally with a few clicks, accelerating business expansion while minimizing costs and risks.
- Instant Deployment of Pre-integrated Processors: As businesses expand globally, Praxis Direct facilitates keeping payment offerings local for an optimal customer experience. With 540+ global payment solutions integrated, deploying any of these solutions becomes an instantaneous process.
- Unified Reporting and Dashboard: Praxis Direct provides a comprehensive back-office dashboard for businesses to track all payment activities. The intuitive interface offers detailed reports for transactions, risk, chargebacks, and more, giving businesses better control over their operations.
- Preset Limit and Routing Rules: Automating payment flows is crucial to mitigating risk and boosting operations. Praxis Direct’s preset limit and routing functionalities provide businesses with more control over their payments, contributing to a smoother payment experience for customers.
3. Hosted Payment Fields (HPF): Craftsmanship in Invisible Transactions
While not explicitly detailed in the provided data, HPF is a crucial component of Praxis’s offerings. It likely focuses on hosted payment fields that enhance the overall payment experience for users.
Benefits of Praxis Payment Orchestration:
- Effortless Global Expansion: Praxis’s payment orchestration simplifies the complexities of global expansion for businesses. The seamless integration with numerous payment solutions facilitates a smooth entry into new markets.
- Optimized Payments Infrastructure: By integrating with 540+ PSPs and over 1000 alternative payment solutions, Praxis optimizes payments infrastructure, ensuring adaptability in a variety of currencies and regions.
- Increased Revenue Streams: Praxis’s dynamic smart routing rules and algorithms maximize approval rates, minimizing declines and subsequently boosting revenues for businesses.
- Flexibility and Customization: The modular and dynamic nature of Praxis’s products allows businesses to tailor the payment process according to specific needs, ensuring flexibility and adaptability.
- Streamlined Operations: With unified reporting, dashboards, and preset limit/routing rules, Praxis streamlines operations, making it easier for businesses to manage multiple aspects of their payment processes.
Conclusion: A Symphony of Efficiency and Growth
In the realm of online transactions, Praxis Tech orchestrates a symphony of efficiency, innovation, and control. From the elegant simplicity of Praxis Cashier to the API-driven prowess of Praxis Direct, Praxis Tech empowers businesses to navigate the complexities of online transactions seamlessly.