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Industry News
Praxis Tech Gears Up Towards Major Growth with Recurring Payments Upgrade
Praxis Tech, a payment orchestration company whose products and services have been primarily focused on iGaming and Forex industries, is opening up towards new verticals with a major upgrade of its recurring payments feature.
Announced earlier this year by the Company’s CTO Guy Karsenti and released this week, recurring payments with advanced customisation options are available to all merchants using the Praxis software. This rollout will allow Praxis to tap into the growing market share of recurring payments. 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 earlier this year with the vision of expanding its product portfolio, as well as honing the current offering. While accommodating our existing clients remains our top priority, we look into bringing our payments orchestration platform to new verticals. 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 of our recurring payments feature is one of the most anticipated releases for Praxis recently, and I thank our Technology team for making it happen. While our recurring payments capabilities have been accommodating use cases in the iGaming and Forex for quite some time, we are now able to serve industries like SAAS, online education, media and publishing, personal services such as dating apps, retail/consumer goods with scheduled shipments, telecom, all kinds of entertainment, including video streaming services. Allowing for such functionality and accommodating for new verticals in this manner puts Praxis in a different league of products,” Praxis Founder and Director Amit Klatchko said.
Praxis has come a long way since its launch in 2014 and made a name for itself with its flagship product – Cashier. 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). In the past year, reducing decline ratios and decline recovery has been among the company’s top priorities, with its new products, such as BDCC (Background Dynamic Currency Conversion) and Retry with Open Banking. Now advanced recurring payments capability is the latest addition in the Praxis solutions lineup.
Industry News
IGT Achieves Improved ESG Score from FTSE Russell
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International Game Technology PLC announced that it has achieved an environmental, social and governance (ESG) Score of 4.3 out of 5.0 from FTSE Russell, positioning IGT in the 97th percentile within the Travel and Leisure sector of FTSE Russell’s ESG Scores. This was an improvement from IGT’s previous ESG Score of 4.2 out of 5.0 in 2023, demonstrating its ongoing commitment to enhancing ESG performance.
“As a company committed to continually elevating our sustainability practices and leadership, IGT is proud to once again achieve an improved ESG score from FTSE Russell. Through our global Sustainable Play program, we execute sustainable practices and policies throughout our company and this improved score validates our ongoing efforts,” Wendy Montgomery, SVP of Marketing, Communications and Sustainability at IGT, said.
FTSE Russell’s ESG Scores and data model allows investors to understand a company’s exposure to, and management of, ESG issues in multiple dimensions. The ESG Scores are comprises an overall rating that breaks down into underlying pillar and theme exposures. Scores built on over 300 individual indicator assessments are applied to each company’s unique circumstances. The ESG Scores align with the UN Sustainable Development Goals (SDGs), all of which are reflected in FTSE Russell’s ESG framework.
The post IGT Achieves Improved ESG Score from FTSE Russell appeared first on European Gaming Industry News.
Industry News
Super Group Appoints Merrick Wolman to its Board of Directors
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Super Group has appointed Merrick Wolman to its Board of Directors, effective from February 18, 2025.
Mr. Wolman is the Chief Executive Officer of a global finance company and has worked closely with the Super Group executive team for over two decades.
Neal Menashe, Chief Executive Officer of Super Group, said: “We are very pleased to welcome Merrick to the board. His deep understanding of the gaming industry, alongside his wide range of experience in executive roles, will be of great value as we continue to pursue our global growth strategy and build on our successes to date.”
This appointment brings the total directors on Super Group’s board to nine, including five independent directors.
The post Super Group Appoints Merrick Wolman to its Board of Directors appeared first on European Gaming Industry News.
Industry News
Kindred Reports Decline in Revenue from High-risk Players for Q4 2024
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Kindred Group has reported decline in its share of revenue from high-risk players for the fourth quarter 2024 at 2.7% (Q3 2024 3.2%). The percentage of detected customers who exhibited improved behaviour after interventions showed an improvement at 92.2% (compared to 87.3% in Q3 2024). This positive trend is mainly the result of stricter measures across key markets, improved internal processes, as well as the exit from non-locally licensed markets as part of to the acquisition by La Française des Jeux (FDJ) in October 2024. This shift reflects Kindred’s broader commitment to maintaining high regulatory standards and fostering safer gambling practices.
“It is pleasing to see the decline in high-risk revenue during the fourth quarter of last year. We know that the share fluctuates between quarters, but the long-term trend is showing a steady decline. We remain dedicated and focused on improving our systems and processes to ensure we offer our customers a safe and fun experience,” Esther Scheepers, Head of Responsible Gambling at Kindred Group, said.
“The increased focus on responsible gambling by regulators and the industry is welcomed. From our end, we see that by combining our expertise with emerging technologies, we can further enhance detection capabilities. We are currently working on our existing detection system in combination with an additional system that will enable us to integrate more robust compliance features and optimize our overall approach to safer gambling. Furthermore, we are exploring opportunities to expand our research efforts, aiming to support data-driven discussions and looking at emerging trends in consumer protection. All these aspects are important to protect the integrity of the licence model and maintain a level playing field,” Esther Scheepers added.
The post Kindred Reports Decline in Revenue from High-risk Players for Q4 2024 appeared first on European Gaming Industry News.
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