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Praxis Tech, a company that orchestrates payments for the iGaming, Forex and other industries, has expanded its services to include new verticals by upgrading their recurring payment feature.
All merchants who use the Praxis software can now take advantage of recurring payments that offer advanced customisation features. This was announced earlier this year by Guy Karsenti, the CTO at the company. Praxis will be able to take advantage of the increasing market share for recurring payments with this rollout. Projected to grow steadily at a CAGR of 16.10%, the global subscription/recurring billing management market is expected to reach a staggering USD 22,768.38 million by 2030.
“I joined Praxis in the beginning of this year, with the goal of expanding the product offering and improving the existing one. We are committed to serving our current clients, but we also want to expand our payments orchestration platform into new industries. Recurring/subscription payments have been one of the strongest trends in online payments, and tapping into this consumer behavior on a bigger scale opens further potential for Praxis and our clients,” Praxis CTO Guy Karsenti said.
This upgrade to our recurring payment feature was one of Praxis’ most anticipated releases in recent times, and I want to thank the Technology team who made it possible. Our recurring payment capabilities have served iGaming, Forex, and other industries for quite some years. We are now able serve SAAS, Online Education, Media and Publishing, Personal Services such as dating apps and retail/consumer products with scheduled shipments. Praxis is in a league of its own with this functionality, and the ability to accommodate new verticals.
Since its launch in 2014, Praxis has made its mark with its flagship product Cashier. Praxis changed its name from Praxis Cashier in 2022 to Praxis Tech to reflect the expanded product offering – Praxis Direct API and Hosted Payment Fields HPF. In the last year, reducing the decline ratios, and recovering from declines, has been one of the top priorities for the company, thanks to its new products such as BDCC, (Background Dynamic currency conversion), and Retry with open banking. Praxis’ latest solution, advanced recurring payment capability, is now available.
