Praxis Tech has unveiled its
latest innovation in the realm of online payments with the introduction of the
3DS Cascading feature, promising enhanced efficiency and user-friendliness
without compromising on security. The new feature, integrated into the company’s
renowned Payment Orchestration Platform, aims to streamline the authentication
process while maintaining compliance with Strong Customer Authentication (SCA)
requirements.
The 3DS Cascading feature marks a
significant leap forward in online payment technology, addressing the challenge
of processing errors and re-authentication hurdles encountered in previous
systems.
Guy Karsenti, Chief Technology Officer at Praxis Tech, Source: LinkedIn
By leveraging Praxis’ Smart Routing technology, the platform
identifies the optimal payment route for each transaction, significantly
reducing the need for customers to undergo repetitive verification processes in
case of errors.
Guy Karsenti, the Chief Technology
Officer at Praxis Tech, emphasized the transformative impact of the new
feature: “This new feature significantly enhances our merchant
services and value proposition by making online payments quicker and easier for
users, without compromising on the essential security and verification steps
needed.”
Elevating Transaction Efficiency
One of the key advantages of the
3DS Cascading feature lies in its ability to enable true frictionless
cascading, effectively minimizing loading screens and repetitive SCA checks. By
streamlining the authentication process behind the scenes, the feature leads to
faster transactions across both desktop and mobile platforms, thereby reducing
the likelihood of abandoned payment sessions and enhancing the overall checkout
experience for users.
Karsenti further elaborated on
the technical sophistication of the 3DS Cascading feature, highlighting its
seamless integration with Praxis’ merchant plug-in and intelligent
routing capabilities. This integration empowers businesses to cascade transactions
to any acquirer effortlessly while benefiting from the platform’s decline
recovery suite and upcoming risk and fraud engine.
Facilitating over $4.5 billion in
transaction volume last year alone, Praxis Tech has
established itself as the payment solution of choice in industries such as
iGaming and trading. Preliminary testing has already showcased a notable
reduction in authentication steps, with an average of two per transaction
observed in Praxis’ core sectors.
Praxis Tech has unveiled its
latest innovation in the realm of online payments with the introduction of the
3DS Cascading feature, promising enhanced efficiency and user-friendliness
without compromising on security. The new feature, integrated into the company’s
renowned Payment Orchestration Platform, aims to streamline the authentication
process while maintaining compliance with Strong Customer Authentication (SCA)
requirements.
The 3DS Cascading feature marks a
significant leap forward in online payment technology, addressing the challenge
of processing errors and re-authentication hurdles encountered in previous
systems.
Guy Karsenti, Chief Technology Officer at Praxis Tech, Source: LinkedIn
By leveraging Praxis’ Smart Routing technology, the platform
identifies the optimal payment route for each transaction, significantly
reducing the need for customers to undergo repetitive verification processes in
case of errors.
Guy Karsenti, the Chief Technology
Officer at Praxis Tech, emphasized the transformative impact of the new
feature: “This new feature significantly enhances our merchant
services and value proposition by making online payments quicker and easier for
users, without compromising on the essential security and verification steps
needed.”
Elevating Transaction Efficiency
One of the key advantages of the
3DS Cascading feature lies in its ability to enable true frictionless
cascading, effectively minimizing loading screens and repetitive SCA checks. By
streamlining the authentication process behind the scenes, the feature leads to
faster transactions across both desktop and mobile platforms, thereby reducing
the likelihood of abandoned payment sessions and enhancing the overall checkout
experience for users.
Karsenti further elaborated on
the technical sophistication of the 3DS Cascading feature, highlighting its
seamless integration with Praxis’ merchant plug-in and intelligent
routing capabilities. This integration empowers businesses to cascade transactions
to any acquirer effortlessly while benefiting from the platform’s decline
recovery suite and upcoming risk and fraud engine.
Facilitating over $4.5 billion in
transaction volume last year alone, Praxis Tech has
established itself as the payment solution of choice in industries such as
iGaming and trading. Preliminary testing has already showcased a notable
reduction in authentication steps, with an average of two per transaction
observed in Praxis’ core sectors.
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- Source: https://www.financemagnates.com//fintech/praxis-implements-3ds-cascading-to-enhance-transaction-security/
