In the ever-evolving landscape of online transactions, one company stands out as a beacon of innovation and efficiency—Praxis Tech. Founded in 2014, Praxis Tech has emerged as a trailblazer in the realm of payment orchestration, redefining how businesses accept payments online and optimizing transaction approval ratios.
Unveiling the Essence of Payment Orchestration:
At its core, Payment Orchestration is the intricate process of integrating and managing various payment service providers, acquirers, payment gateways, and banks on a unified software layer. Praxis Tech, with its forward-thinking solutions, simplifies this complex orchestration, offering businesses a streamlined approach to global expansion and payments optimization.
Praxis Tech: The Pioneer in Payment Orchestration
Founded seven years ago, Praxis Tech has experienced remarkable growth, establishing itself as a leading payments orchestration platform. Specializing in assisting merchants with business growth, entry into new global markets, and integration with diverse payment solutions, Praxis Tech currently collaborates with an impressive network of 540+ Payment Service Providers (PSPs) and over 1000 alternative payment solutions, supporting transactions in more than 200 currencies.
Operating as a payment technology company, Praxis Tech provides the vital infrastructure for merchants to accept payments and conduct payouts. What sets Praxis Tech apart is its neutral stance, abstaining from participating in transactions and ensuring the secure handling of client funds and information.
Three Pillars of Integration: Praxis Products
1. Praxis Cashier: Streamlining Transactions with Elegance
Praxis Cashier serves as a hosted payment page, offering businesses a seamless avenue for payment acceptance and withdrawal options. This product provides merchants access to Praxis’s extensive network of PSPs and Alternative Payment Methods (APMs), allowing them to accept payments through multiple methods, customized by country and other criteria.
2. Praxis Direct: Empowering Businesses through API Integration
Praxis Direct, functioning as an API, provides businesses instant access to a full suite of pre-integrated solutions. This empowers businesses to manage their payment flows more efficiently without the need for costly development. Key features of Praxis Direct include:
- One API for Diverse Solutions: Praxis Direct’s API provides instant access to a myriad of solutions, addressing various challenges across payment flows. This flexibility allows businesses to choose and integrate payment solutions that align with their specific needs.
- Smart Credit Card Routing: Agility in credit card routing significantly impacts the bottom line. Praxis Direct offers solutions to manage credit card routing efficiently, ensuring more successful transactions and an overall smoother payment experience for customers.
- Fast Onboarding of New Providers: Avoid the traditional and costly process of onboarding new providers. Praxis Direct allows businesses to access and onboard new payment providers globally with just a few clicks, facilitating faster business expansion while minimizing costs and risks.
- Instant Deployment of Pre-integrated Processors: As businesses expand globally, Praxis Direct enables them to keep their payments offering local for the best customer experience. With 540+ global payment solutions integrated with Praxis Direct, 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): Crafting Seamless Transactions Unseen
While not explicitly detailed in the provided data, HPF is a vital 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: Orchestrating Tomorrow’s Payments Today
In the grand symphony of online transactions, Praxis Tech emerges as the conductor, orchestrating seamless, efficient, and globally adaptive payment solutions. From Praxis Cashier’s streamlined payment options to Praxis Direct’s API-driven efficiency, businesses are empowered to navigate the complexities of online transactions seamlessly.
The orchestration journey with Praxis is not just about integrating payments; it’s about crafting a symphony of efficiency, flexibility, and control. As businesses embrace the digital future, Praxis’s commitment to simplifying and optimizing payment processes positions them as the vanguard of the payments revolution, orchestrating transactions with finesse and foresight.