Introduction:
In the ever-evolving landscape of online transactions, optimizing payment processes is paramount for businesses seeking success. Enter Payment Orchestration—a strategic approach to integrating and managing various payment service providers, acquirers, gateways, and banks on a unified software layer. At the forefront of this revolution is Praxis Tech, a payment orchestration software company founded in 2014. This article delves into the transformative power of Payment Orchestration and how Praxis Tech is leading the charge.
Understanding Payment Orchestration:
Payment Orchestration is the systematic process of seamlessly integrating and managing diverse payment components on a unified software layer. Praxis Tech, with its innovative approach, simplifies global expansion and optimizes payments infrastructure for businesses.
The Rise of Praxis Tech:
Established in 2014, Praxis Tech has experienced exponential growth, becoming a top payments orchestration platform. The company assists merchants in expanding their businesses, entering new global markets, and integrating with multiple payment solutions. Currently, Praxis seamlessly integrates with 540+ Payment Service Providers (PSPs) and over 1000 alternative payment solutions, supporting transactions in over 200 currencies.
As a payment technology company, Praxis Tech provides the essential infrastructure for merchants to accept payments and conduct payouts. Notably, Praxis emphasizes that it does not participate in transactions, nor does it handle client funds or information.
Praxis Cashier: Empowering Businesses
One Simple Integration:
Praxis Cashier, a hosted payment page designed for businesses, serves as the gateway to global and localized payment solutions. A single integration connects businesses with over 540 integrated payment solutions, spanning major banks, Tier 1 PSPs, e-wallets, instant wire solutions, and localized Alternative Payment Methods (APMs). This simplicity ensures the fastest and most effective way to enter new markets.
Boost Revenues Immediately:
In the realm of global credit card transactions, Praxis Cashier acknowledges the absence of a one-size-fits-all solution. The platform enables businesses to create customized dynamic smart routing rules or leverage an algorithm that directs each transaction to the best processor. The goal is to maximize approval rates and minimize costly declines, thereby boosting revenues.
Modular and Dynamic:
Praxis Cashier's modularity and responsiveness allow for easy customization. Businesses can alter the cashier interface with simple click-and-drag icons, adjusting functionality for specific countries, VIP levels, or individual clients. This dynamic approach ensures flexibility and control over payment flows.
Virtual Terminal for Conversion Optimization:
The platform provides a single virtual terminal in the cashier's back office, empowering call center agents to unify credit card processors. This consolidation streamlines complex payment processes, enhancing the chances of successful transactions and conversion optimization.
Better Payment Flow Control:
Praxis Tech introduces better control over payment flows with the ability to activate new payment solutions in seconds. Transaction and velocity limits can be set by PSP, and rules can be geo-targeted for optimal performance. Managing multiple websites, currencies, reconciliation, approval rates, withdrawals, and fraud prevention becomes more accessible.
540+ Payment Methods:
With over 540 integrated payment solutions at your fingertips and ongoing additions, Praxis Tech ensures that businesses are well-equipped for success in every market they enter. No additional integration work is required, and the platform's automated smart routing abilities enhance conversion optimization.
Benefits of Praxis Tech Payment Orchestration:
1. Efficient Global Expansion:
Praxis Tech simplifies the complexities of global expansion. The platform's 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 Tech optimizes payments infrastructure, ensuring adaptability in a variety of currencies and regions.
3. Increased Revenue Streams:
Praxis Cashier'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 Cashier allows businesses to tailor the payment process according to specific needs, ensuring flexibility and adaptability.
5. Streamlined Operations:
The platform's virtual terminal and better payment flow control streamline operations, making it easier for businesses to manage multiple aspects of their payment processes.
Conclusion:
In conclusion, the power of Payment Orchestration is evident in the transformative capabilities of Praxis Tech. The platform's commitment to simplifying global expansion, optimizing payments infrastructure, and providing a seamless payment experience positions it as a leader in the industry.