In the ever-evolving landscape of online transactions, businesses seek innovative solutions to streamline their payment processes. One such pioneer in the field is Praxis Tech, a payment orchestration software company founded in 2014. This article explores the transformative role of Praxis in helping businesses accept payments online, enhance transaction approval ratios, and simplify global expansion.
Praxis Tech: Empowering Businesses
Praxis Tech specializes in payment orchestration, a process that involves integrating and managing various payment service providers, acquirers, payment gateways, and banks through a unified software layer. The company has experienced exponential growth, establishing itself as a leading payments orchestration platform for merchants aiming to expand globally and integrate with multiple payment solutions.
Products Offered by Praxis Tech
Praxis Tech offers three distinct products, each providing a unique entry point into its ecosystem:
- Praxis Cashier
- Praxis Direct
- Hosted Payment Fields (HPF)
These products serve as integration modes, allowing merchants to seamlessly access Praxis’s extensive network of Payment Service Providers (PSPs) and Alternative Payment Methods (APMs). Through a single integration, merchants can accept payments via various methods, tailored to specific countries and criteria.
Enhancing Transaction Approval Rates
A core strategy employed by Praxis Tech is the Decline Recover strategy. This involves continually enhancing its product by releasing a suite of features designed to boost merchants’ approved transaction rates. The company’s commitment to innovation is evident in its comprehensive approach to payment orchestration.
Praxis Tech’s Global Expansion: Dubai Office Opening
In a strategic move, Praxis Tech recently announced the opening of its representative office, Praxis Technology LLC, in Dubai’s Business Bay. This expansion signifies the company’s dedication to catering to a growing global client base.
Key Features and Offerings
Praxis Tech provides a range of features that set it apart in the payment orchestration landscape:
- Omni Channel Gateway: Praxis ensures a streamlined payment experience, offering advanced, reliable, and transparent payment services.
- Superior Checkout Experience: Merchants can increase sales by expanding their global reach with Praxis’s fully customizable and localized checkout solution.
- Smart Routing for Credit Card Transactions: Praxis facilitates dynamic and innovative payment flow tools, including smart routing, decline recovery, and one-click payments for returning customers.
- Streamline Risk and Fraud Reduction: The platform allows merchants to customize detailed risk profiles executed across all payment transactions, effectively reducing fraud and minimizing risks.
- PCI and GDPR Compliance: Praxis Tech acknowledges the complexity of the payments landscape and ensures compliance with PCI and GDPR, relieving businesses of the burden of navigating intricate regulatory landscapes.
- White Label Solution: For Payment Service Providers (PSPs), Praxis offers a complete White Label solution, encompassing cutting-edge technology, commercial relationships, compliance, legal aspects, and more.
- Fast Processor Integrations: Praxis Tech adopts a technology-first approach to payments, providing clients with instant access to leading digital payment services and accelerating time-to-market without the need for additional integration work.
In conclusion, Praxis Tech stands at the forefront of payment orchestration, empowering businesses to navigate the complexities of online transactions seamlessly. With a commitment to innovation, a global presence, and a suite of advanced features, Praxis Tech ensures that merchants can optimize their payment architectures and fuel their growth in the competitive digital landscape.
In a world where payment processes play a pivotal role in business success, Praxis Tech’s continuous evolution and commitment to excellence make it a reliable partner for businesses aiming to thrive in the global market.