PRAXIS Cashier is an aggregator of Payment System Providers allowing access to 300 different PSPs with a single integration. Match-Trade chose PRAXIS to integrate with because it supports over 1000 various payment methods, including tier-1 acquiring banks, e-wallets, APM’s, and crypto providers.
“We were amazed by the vast portfolio of our new technology partner. We wouldn’t be able to integrate so many payment options in such a short time. Advanced routing rules available in the system increase the probability of payment success. On top of that, the PRAXIS Cashier team helps brokers get onboarded with the most suitable PSPs for their target markets and improve the deposit acceptance rates. It’s an excellent addition to our previous payment methods, including Crypto Gateway and various card processors. Still, we’re constantly working on broadening payment options by adding new PSPs that are not covered by PRAXIS Cashier”- said Piotr Łągiewski, Head of Product Development at Match-Trade Technologies
How does it work exactly? PRAXIS Cashier is available as one of the deposit options in Match-Trade’s Client Office portal and no additional integration is required. All necessary configurations, graphics adjustments, styling and training is provided during brokers’ onboarding with MTT and PRAXIS. A broker can seamlessly connect any previously used PSP if available in PRAXIS Cashier. For additional PSPs, a merchant would still need to undergo a process of being accepted by the provider. PRAXIS Cashier can assist in introducing broker to the best performing providers for target markets, also considering the legal surrounding of the broker. Also, other PSPs not covered by the solution can be integrated.
The client’s payment journey runs very smoothly as well. A form pops up where the client gets to choose his desired payment method. It displays the best payment solutions based on the trader’s country of registration.
For card deposits there is no redirecting – client provides card data in the same form which makes the payment experience even more uninterrupted. For client’s convenience, in case of any future use of the same card some of the details are prefilled so there is no need to provide the entire card data again. Praxis Cashier’s credit card ‘Smart Routing’ system ensures that card transactions will be routed to the appropriate PSP for which the transaction has the highest chance of approval. The routing system is designed to reduce decline rates by allowing the client to continue trying to deposit with multiple PSPs, set up behind the scenes via the back-office should they so wish to.
After successful payment, funds are instantly credited to the trading account following any workflow rules applied by the broker in Match-Trade’s client portal. Transaction auditing and reporting are available in Praxis Cashier’s advanced back office, providing dashboards, stats and charts. All the necessary payment information is also available in Match-Trade Client Office for audit trail purposes.
If you need any further information, do not hesitate to contact us.