In the fast-paced world of online transactions, businesses are increasingly turning to payment orchestration solutions to streamline operations and enhance global reach. Among the pioneers in this field is Praxis Tech, a payment orchestration software company founded in 2014. This article explores the transformative role of Praxis in simplifying payment processes, fostering global expansion, and optimizing payments infrastructure.
Unveiling Praxis Tech:
Praxis Tech has positioned itself as a cornerstone in the realm of payment orchestration. Established in 2014, the company focuses on empowering businesses to accept payments online while improving transaction approval ratios. At its core, payment orchestration involves integrating and handling various payment service providers, acquirers, payment gateways, and banks through a unified software layer.
The mission of Praxis is clear: to simplify global expansion and optimize payments infrastructure for businesses. The company has experienced exponential growth, emerging as a top payments orchestration platform for merchants seeking to grow, expand globally, and integrate with multiple payment solutions.
Praxis’s Key Offerings:
1. Praxis Cashier: A Gateway to Global Payments:
Praxis Cashier stands out as a hosted payment page designed for businesses requiring versatile payment acceptance and withdrawal options. The platform connects businesses to a vast array of global and localized payment solutions through its powerful and customizable cashier solution.
Modular and Responsive Design:
- Praxis Cashier is modular and responsive, addressing pain points in payment processing. It executes smart routing, incorporates high-level risk management tools, and prioritizes customization by geography and campaign.
Single Integration, Diverse Solutions:
- With a single integration, Praxis connects businesses with over 540 integrated payment solutions, including major banks, Tier 1 Payment Service Providers (PSPs), e-wallets, instant wire solutions, and localized Alternative Payment Methods (APMs).
Dynamic Smart Routing:
- The platform allows businesses to create customized dynamic smart routing rules or rely on Praxis’s algorithm to maximize approval rates for global credit card transactions.
Virtual Terminal for Conversion Optimization:
- Praxis offers a virtual terminal in the cashier’s back office, empowering call center agents to orchestrate complex payment processes efficiently and streamline successful transactions.
Better Payment Flow Control:
- Businesses can activate new payment solutions in seconds, set transaction and velocity limits by PSP, geo-target rules, and ensure optimal performance in managing multiple websites with different currencies.
Extensive Payment Method Support:
- With over 540 integrated payment solutions and automated smart routing, Praxis facilitates businesses in thriving in new markets without the need for extensive integration work.
Benefits of Praxis Integration:
1. Global Market Entry Simplified:
Praxis facilitates global market entry through its extensive network of integrated payment solutions. A single integration opens doors to diverse payment methods, providing the fastest and most effective way for businesses to enter new markets.
2. Immediate Revenue Boost:
Customized dynamic smart routing rules and algorithm-driven transaction processing maximize approval rates, minimizing costly declines. This ensures an immediate boost in revenues, especially in the realm of global credit card transactions.
3. Modularity and Customization:
Praxis’s modular and dynamic design allows businesses to customize the cashier interface effortlessly. Click and drag icons enable the modification of specific functionalities based on factors like payment orders for particular countries, VIP levels, or specific clients.
4. Conversion Optimization with Virtual Terminal:
The virtual terminal in Praxis’s cashier back office empowers call center agents, leading to conversion optimization. Streamlined payment processes and efficient transaction orchestration contribute to successful conversions.
5. Efficient Payment Flow Control:
Praxis enables businesses to activate new payment solutions swiftly, set transaction and velocity limits, and geo-target rules for optimal performance. This comprehensive control over payment flows simplifies reconciliation, increases approval rates, and mitigates fraud risks.
Conclusion: Embracing Innovation for Global Success
In conclusion, Praxis Tech’s payment orchestration solutions redefine how businesses navigate the complexities of online transactions. The modular and responsive design of Praxis Cashier, coupled with its extensive integration capabilities, empowers businesses to thrive in the global market.
From seamless global market entry to immediate revenue boosts and efficient payment flow control, Praxis stands as a catalyst for success in the ever-evolving landscape of online payments. By embracing innovation and prioritizing customization, Praxis Tech emerges as a strategic partner for businesses seeking to optimize their payment processes and achieve global success.