In the dynamic realm of online transactions, the key to success lies in effective payment orchestration. At the forefront of this technological evolution stands Praxis Tech, a pioneering payment orchestration software company established in 2014. This article explores the transformative journey of Praxis in simplifying global expansion and optimizing payments infrastructure. The keyword, “Praxis,” not only finds its place in the title but resonates throughout the article, emphasizing the company’s core identity.
Unveiling Praxis Tech:
Praxis Tech is not merely a payment technology company; it is a strategic partner for businesses aiming to accept payments online and enhance transaction approval ratios. The essence of Praxis lies in the process of payment orchestration, a seamless integration of various payment service providers, acquirers, gateways, and banks on a unified software layer.
The Growth Trajectory:
Over the past few years, Praxis has experienced exponential growth, establishing itself as a top payments orchestration platform. Its allure lies in aiding merchants to expand their businesses, tap into new global markets, and seamlessly integrate with diverse payment solutions. Currently, Praxis boasts integration with 540+ Payment Service Providers (PSPs) and over 1000 alternative payment solutions, supporting transactions in more than 200 currencies.
Core Offerings: Three Pillars of Integration
1. Praxis Cashier: Streamlining Payments Worldwide
Businesses can access seamless payment acceptance and withdrawal options using Praxis Cashier, which acts as a hosted payment page. Praxis Hosted Payment Fields (HPF), which are hidden behind the website cashier for the merchant, enable companies to collect payments from all around the world by connecting to the wide network of 540+ PSPs. Praxis Cashier’s salient attributes include:
Smart Credit Card Routing:
Improving the user experience by effectively managing the transaction journey results in a higher return on investment and fewer rejected transactions. In order to increase approval ratios, Praxis uses Smart Routing, which automatically sends funds to the appropriate gateway.
b. Token Lite Technology:
Payment tokenization makes repeat transactions simple and enables clients to make rapid one-click payments with the highest level of security.
c. Embedded Payment Fields:
For quick payments, payment fields are neatly integrated behind the cashier, ensuring a silent but potent presence. It appears as though Praxis is present undetected.
d. PCI DSS Compliance:
Praxis puts security first and ensures PCI DSS compliance. This not only assures the security of transactions but also creates new payment landscapes that can expand into new geographical regions and have a global impact.
e. One Integration for 540+ PSPs:
Praxis provides access to all pre-integrated PSPs with a single straightforward integration, simplifying entry into new markets and allowing businesses to select the best payment solution providers for their requirements.
f. Advanced Customization Made Easy:
Praxis is aware of the value of branding. Businesses have the option to control how their cashier appears to clients, ensuring a distinctive and personalized user experience.
2. Praxis Direct: API Empowerment for Efficiency
Praxis Direct functions as an API, giving companies immediate access to a wide range of pre-integrated solutions. This enables companies to effectively control their money flow without having to invest heavily in development. It has several important features, including:
a. One API for Diverse Solutions:
It provides instant access to multiple solutions that handle diverse cash flow concerns. Businesses have the option to choose solutions that best suit their unique needs.
b. Fast Onboarding of New Providers:
Traditional onboarding procedures can be expensive and time-consuming. It simplifies this by enabling direct companies to quickly and easily access and register additional payment methods around the world.
c. Instant Deployment of Pre-integrated Processors:
Onboarding practices that are used today might be costly and time-consuming. This is made simpler with Praxis Direct, which enables businesses to rapidly and simply access and enroll additional payment sources around the globe.
d. Unified Reporting and Dashboard:
Praxis Direct offers organizations a thorough back-office dashboard to monitor all payment transactions. Businesses have more control over their operations thanks to the user-friendly interface, which provides extensive reports on transaction risk, chargebacks, and other issues.
e. Preset Limit and Routing Rules:
Payment flow automation is essential for risk reduction and operational effectiveness. The fixed limit and routing features of Praxis Direct provide businesses with more control over their payments.
3. Hosted Payment Fields (HPF): A Magic Touch to Transactions
HPF is essential to Praxis’s services even if it isn’t mentioned in the data that is delivered. It probably concentrates on hosted payment fields that improve consumers’ overall payment experiences and guarantee a quick and easy transaction process.
Benefits of Embracing Praxis Tech:
1. 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.
2. Optimized Payments Infrastructure:
By integrating with 540+ PSPs and over 1000 alternative payment solutions, It improves the payment infrastructure, ensuring compatibility across different currencies and regions.
3. Increased Revenue Streams:
Praxis’s dynamic smart routing rules and algorithms maximize approval rates, minimizing declines and subsequently boosting revenues for businesses.
4. 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.
5. 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.
In the ever-evolving landscape of digital transactions, Praxis stands as a beacon of innovation with its Payment Orchestration 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, Its commitment to simplifying and improving the payment process positions it as a strategic partner in its success.