Praxis Announces 14 Consecutive Months of Growth; Transaction Volume Doubled Over the Past Year

LIMASSOL, Cyprus, July 21, 2023 /CNW/ -- Praxis, a leading payment orchestration software provider, is happy to report on its 14th consecutive month of positive growth in both volumes and transactions processed through its platform. Bootstrapped and profitable, the company has seen a consistent increase in the number of transactions processed via the Praxis system, growing by 10%+ month on month, and almost doubling its numbers in terms of transaction volumes.

"We have been on a growth trajectory for the past 14 months and we are not slowing down. Praxis is well on track to exceed our goal of USD 4 billion in approved transaction volume in 2023. We appreciate our partners, merchants, putting their trust in us and choosing Praxis as their reliable partner in payments and growth", says Amit Klatchko, Praxis Co-Founder and Director. 

"Praxis currently has 200+ active clients and supports over 650 brands. We are signing dozens of new deals every month, with the vast chunk of our leads coming from referrals, word of mouth, and positive feedback from their business partners or friends. This is the testament to our professionalism, the dedication of our team and the quality of service we provide", says Klatchko.

Praxis Tech has been rolling out new features in recent months that operate to improve processing efficiency and increase approval rates throughout a range of businesses. Newly released features such as Background Dynamic Currency Conversion (BDCC), Smart Routing, Transaction Decline Recovery with Open Banking and Retry on Insufficient Funds have been proven to increase approval rates for high-volume transaction industries such as investment trading, iGaming, and eCommerce. 

The company also aims to cater to new verticals with its recently upgraded Recurring Payments feature, designed to provide for a subscription payments model. Praxis' Recurring Payments offering is complemented by One-Click Payment and Automatic Top-Up functions, with all features powered by Praxis' Merchant Initiated Transactions (MIT) technology

Praxis launched in 2014 with its flagship product - Cashier - which quickly became the household name for this type of payment software. In 2022 Praxis uplifted its brand from Praxis Cashier to Praxis Tech, to reflect its expanded offering of new products - Praxis Direct (API) and Hosted Payment Fields (HPF). Praxis Tech is PCI Certified, providing its clients with the highest standards of data security.

About Praxis
Praxis Tech Ltd is a Payments Technology Software company, helping companies simplify global expansion and optimize their payments infrastructure. They have grown exponentially over the past few years and are a top payments orchestration platform for merchants looking to grow their business, expand into new global markets and integrate with multiple payment solutions. Currently Praxis integrates with 540+ PSPs and 1000+ alternative payment solutions, supporting over 200 currencies. Learn more at: https://praxis.tech/

SOURCE Praxis

Sofia Mashovets, [phone], [email protected]