Introduction

In the ever-evolving landscape of online transactions, Praxis Tech emerges as a pivotal player, providing a cutting-edge payment orchestration software solution since its inception in 2014. This article delves into the dynamic world of Praxis Tech, exploring its journey, offerings, and recent expansions in Dubai’s vibrant business hub.

Unlocking the Power of Praxis Tech

Praxis Tech, a trailblazing payment orchestration software company, has been a driving force in enabling businesses to streamline online payments and enhance transaction approval ratios. The essence of payment orchestration lies in seamlessly integrating various payment service providers, acquirers, gateways, and banks into a unified software layer. Praxis Tech stands out by simplifying global expansion and optimizing payment infrastructures for companies seeking growth and market diversification.

Praxis Tech’s Product Ecosystem

As a beacon in payment technology, Praxis offers three distinctive products:

1. Praxis Cashier

• Cascading Integration
• Tokenization
• Complete Checkout Page
• Cards & APMs
• Theme Selection
• Limited Customizations
• Non-PCI DSS Merchants

2. Praxis Hosted Payment Fields

• Cascading Integration
• Tokenization
• Embedded Payment Fields
• Only Cards
• Initial Default Theme
• Advanced Customizations
• Non-PCI DSS Merchants

3. Praxis Direct

• Cascading Integration
• Tokenization
• Only Processing
• Cards & APMs
• Build Your Theme
• Full Customizations
• PCI DSS Merchants

These products serve as diverse modes of integration, offering merchants suitable entryways into the Praxis ecosystem.

Praxis Tech’s Network Advantage

When merchants align with Praxis, they tap into a vast network of Payment Service Providers (PSPs) and Alternative Payment Methods (APMs). Through a single integration, businesses gain the ability to accept payments via multiple methods, precisely targeted by country and other criteria. This streamlined approach enhances efficiency and widens the scope for revenue generation.

Praxis Tech’s Dubai Expansion

In a strategic move, Praxis Tech recently inaugurated its representative office, Praxis Technology LLC, in Dubai’s Business Bay. This expansion symbolizes the company’s commitment to a global clientele, offering access to 525+ PSPs and 1000+ APM solutions. The Dubai office not only provides round-the-clock support but also opens doors to a talent pool and strengthens Praxis Tech’s presence in the Middle East and Asia.

Unveiling Praxis Tech’s Growth

Praxis Tech proudly reports a remarkable 14th consecutive month of positive growth, witnessing a consistent increase in transaction volumes and approvals. With a goal to surpass USD 4 billion in approved transaction volume in 2023, Praxis Tech expresses gratitude to partners and merchants for their trust.

Amit Klatchko, Praxis Co-Founder and Director, states, “We are not slowing down. Praxis is well on track to exceed our goal. We appreciate our partners, merchants, putting their trust in us and choosing Praxis as their reliable partner in payments and growth.”

Innovations Driving Praxis Tech Forward

Praxis Tech remains at the forefront of innovation, enhancing its product with a Decline Recover strategy. Key features include Background Dynamic Currency Conversion (BDCC), Smart Routing, Transaction Decline Recovery with Open Banking, and Retry on Insufficient Funds. These features are proven to boost approval rates across various industries, including investment trading, iGaming, and eCommerce.

Diversification into New Verticals

Praxis Tech extends its capabilities with a focus on new verticals, exemplified by the upgraded Recurring Payments feature. This feature, complemented by One-Click Payment and Automatic Top-Up functions, operates on Praxis’ Merchant Initiated Transactions (MIT) technology, facilitating a subscription payments model.

Praxis Tech’s Evolution

Originally launching in 2014 with the flagship product, Cashier, Praxis Tech evolved in 2022 to reflect its expanded offerings, including Praxis Direct (API) and Hosted Payment Fields (HPF). The rebranding emphasizes the company’s commitment to innovation and adaptability to market needs. As a testament to its dedication, Praxis Tech is PCI Certified, ensuring the highest standards of data security for its clients.

Conclusion: Praxis Tech’s Ongoing Journey

In conclusion, Praxis Tech stands as a beacon in the realm of payment orchestration, consistently innovating and expanding to meet the dynamic needs of the online business landscape. The strategic move to Dubai, the sustained growth trajectory, and a commitment to excellence position Praxis Tech as a reliable partner for merchants worldwide. As we witness the unfolding chapters of Praxis Tech’s success story, it becomes evident that the keyword “Praxis Tech” resonates not just as a company name but as a symbol of transformative solutions and sustained growth in the digital payments sphere.