Introduction:

In the intricate world of online transactions, the keyword that echoes with innovation and efficiency is Payment Orchestration. At the forefront of this financial revolution stands Praxis Tech, a payment orchestration software company founded in 2014. This article embarks on a journey to explore the transformative role of Praxis Tech in enabling businesses to accept payments globally and optimize their transaction approval ratios.

Unveiling Payment Orchestration:

Payment Orchestration is the sophisticated process of seamlessly integrating and managing diverse payment service providers, acquirers, payment gateways, and banks on a unified software layer. Praxis Tech, with its innovative solutions, simplifies the complex landscape of global payments, offering businesses a streamlined approach to financial transactions.

Praxis Tech: Pioneers in Payment Orchestration

Founded in 2014, Praxis Tech has experienced exponential growth, establishing itself as a leading payments orchestration platform. Specializing in assisting merchants in business expansion, entry into new global markets, and integration with diverse payment solutions, Praxis Tech currently integrates with an impressive 540+ Payment Service Providers (PSPs) and over 1000 alternative payment solutions. This extensive integration supports transactions in more than 200 currencies.

Functioning as a payment technology company, Praxis Tech provides the crucial infrastructure for merchants to accept payments and conduct payouts. Importantly, Praxis Tech does not participate in transactions, ensuring a secure and neutral stance in handling client funds and information.

Three Pillars of Integration: Praxis Products

1. Praxis Cashier: Streamlining Transactions

Praxis Cashier serves as a hosted payment page, offering businesses seamless payment acceptance and withdrawal options. This product provides merchants with access to Praxis’s extensive network of PSPs and Alternative Payment Methods (APMs), enabling them to accept payments through multiple methods, tailored by country and other criteria.

2. Praxis Direct: Empowering through API Integration

Praxis Direct, functioning as an API, provides businesses with instant access to a full suite of pre-integrated solutions. This enables businesses to manage their payment flow more efficiently without the need for costly development. Key features of Praxis Direct include:

a. One API for Diverse Solutions

Praxis Direct’s API grants instant access to hundreds of different solutions, addressing various challenges across payment flows. This flexibility allows businesses to choose and integrate payment solutions that align with their specific needs.

b. 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.

c. 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.

d. 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.

e. 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.

f. 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

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:

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, Praxis optimizes payments infrastructure, ensuring adaptability in a variety of 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.

Conclusion:

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.