Praxis announces 14 consecutive months of growth

Praxis, a leading payment orchestration software provider with offices in Limassol has reported its14th 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, a company press release notes.

"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", commented Amit Klatchko, Co-Founder and Director, Praxis. 

"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", Klatchko added.

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, the announcement said.

Praxis launched in 2014 with its flagship product - Cashier - which quickly became a 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.