Subscribe
|
|
|
|
|
|
|
News

Praxis Tech launches new 3DS Cascading Module

Monday 5 February 2024 14:51 CET | News

Praxis Tech has launched its 3DS Cascading feature, aiming to make online payments quicker and more user-friendly while maintaining Strong Customer Authentication requirements. 

According to the announcement, this feature aims to enhance the company's payment orchestration platform. Known for connecting merchants to diverse global payment processors, it offers a comprehensive solution for managing both front and back-end transaction flows.

Praxis Tech has launched its 3DS Cascading feature, aiming to make online payments quicker and more user-friendly while maintaining Strong Customer Authentication requirements.

Moreover, the new 3DS Cascading feature builds on Praxis' Smart Routing technology which selects the optimal payment route for each transaction. Previously, if that route then encountered processing errors after customer verification, cumbersome re-authentication would be required, for every authorisation where 3DS is mandated. With the introduction of 3DS Cascading, customers are now spared the need for identity re-verification, ensuring smoother payments. This maintains robust security protocols and provides distinct advantages for merchants and their customers. 

Officials from Praxis stated that this new feature enhances its merchant services and value proposition by making online payments quicker and easier for users, without compromising on the essential security and verification steps needed. 

Furthermore, enabling true frictionless cascading is a key function of the company's latest feature, addressing one of the main challenges in authentication methods. By reducing loading screens and repeated SCA checks, 3DS Cascading leads to faster transactions across desktop and mobile payment experiences and minimises abandoned payment sessions as users can make use of an improved checkout experience. 

About Praxis Tech

Based in Cyprus, Praxis Tech is a payments technology company that seeks to help companies simplify global expansion and optimise their payments infrastructure. The company aims to provide the best payment orchestration platform for merchants looking to grow their business, expand into new global markets, as well as integrate with multiple payment solutions. Currently, Praxis integrates with more than 540 PSPs and more than 1000 alternative payment solutions, supporting over 200 currencies. 

In April 2023, Praxis Tech launched Merchant Initiated Transactions (MIT), a payment processing solution for merchants. With MIT, merchants can initiate transactions on behalf of their customers, eliminating the need for manual payment information entry and streamlining the payment process. The feature facilitates ‘one-click payments’ for customers and supports most payment processors using the Card On File option (tokenisation), making payments even more secure. 

In the same month, the company enabled game developer SoftGamings to equip its operators with Merchant Initiated Transaction (MIT) and other new features, increasing conversions and streamlining the payment process for SoftGamings’ operators. Additionally, the decline recovery features ensure that operators can recover any lost revenue from declined transactions, further boosting their bottom line. 

More: Link


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: payments , payments orchestration, online payments, transactions , merchants, 3-D Secure
Categories: Payments & Commerce
Companies: Praxis Tech
Countries: World
This article is part of category

Payments & Commerce

::: more

Praxis Tech

|
Discover all the Company news on Praxis Tech and other articles related to Praxis Tech in The Paypers News, Reports, and insights on the payments and fintech industry:





Industry Events

Free Headlines ::: subscribe now
RSS ::: follow ThePaypers via RSS ::: connect
LinkedIn ::: connect with ThePaypers on LinkedIn ::: connect
Twitter ::: follow ThePaypers on Twitter ::: follow
Facebook ::: like ThePaypers on Facebook ::: like