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
Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising
The Dutch mental health service is calling for a total ban on online gambling advertisements in the Netherlands.
Although a ban on untargeted gambling advertisements and a ban on the use of role models has been in effect since 2023, a recent research by KRO-NCRV’s Pointer shows that (illegal) gambling companies and sports tipster platforms are still enticing young people via social media such as TikTok and Snapchat.
By using influencers and terms like “free money”, they try to attract a young audience and thus lower the threshold to start gambling. This concerns both legal online casinos and online casinos that do not have a license in the Netherlands. The Gaming Authority has started an investigation based on Pointer’s findings.
Pointer’s research shows that part of the gambling industry deliberately targets young people who are often susceptible to promises such as “fast money” and the influence of role models. Ruth Peetoom, chair of the Dutch mental health service, compares this approach to that of the tobacco industry, where similar marketing strategies were used to get young people to smoke.
Despite the existing advertising ban, gambling companies continue to explore the boundaries of the law, according to Peetoom. The Dutch mental health and addiction care associations in the Netherlands therefore push for a total ban on online gambling advertising and stricter rules for the duty of care of gambling providers.
With the call for a total ban, the Dutch mental health care sector hopes to prevent further normalisation of gambling behaviour among young people and to protect them from the temptation and consequences of online gambling.
The post Dutch Mental Health Care Calls for Total Ban on Online Gambling Advertising appeared first on European Gaming Industry News.
Compliance Updates
UKGC: Market impact data on gambling behaviour – operator data to Oct 2024
The Gambling Commission has published further data on the gambling industry in Great Britain.
This data, sourced from operators, reflects the period between March 2020 and September 2024, inclusive, and covers online and in-person gambling covering Licensed Betting Operators (LBOs) found on Britain’s high streets.
Comparison should not be made with the industry statistics dataset, as this dataset may include free bets and bonuses and does not include data from all operators.
This release compares Quarter 2 (Q2) of financial year 2024 to 2025, with Q2 of 2023 to 2024, looking at how the market has changed in comparative periods over a year.
The latest operator data shows:
- online total Gross Gambling Yield (GGY) in Q2 (July to September) was £1.32 billion, an increase of 11 percent from Q2 the previous year. The overall number of total bets and/or spins increased 12 percent Year-on-Year (YoY), reaching a new peak for the third consecutive quarter of 25.2 billion, whilst the average monthly active accounts2 in the quarter increased 8 percent
- real event betting GGY increased by 6 percent YoY to £453 million. The number of bets decreased 10 percent, while the average monthly active accounts in Q2 increased 9 percent
- slots GGY increased 16 percent to £680 million YoY. The number of spins increased 13 percent to 23.3 billion while the average monthly active accounts in Q2 increased 16 percent to 4.4 million per month. Although this is a new peak for GGY in this dataset for the slots vertical, it should be noted that one operator has re-classified some of its products into the slot vertical this quarter, which has had an impact on the vertical data
- the number of online slots sessions lasting longer than an hour increased by 9 percent YoY to 10 million. The average session length remained at 17 minutes. Approximately 6.1 percent of all sessions lasted more than one hour compared to 6.6 percent in Q2 the previous year. The number of spins per session has fallen from 147 to 142 YOY, whilst the GGY per session has fallen from £4.20 to £4.13 in the equivalent timeframe
- LBO GGY decreased by 1 percent to £533 million in Q2 2024 to 2025, compared to the same quarter last year, while the number of total bets and spins decreased by 0.1 percent to 3.1 billion.
The post UKGC: Market impact data on gambling behaviour – operator data to Oct 2024 appeared first on European Gaming Industry News.
Industry News
Petra Maria Poola Joins Xace as Group Commercial Director
Xace has announced that Petra Maria Poola has joined the company as Group Commercial Director.
Petra brings a wealth of experience from the iGaming industry having formerly held roles at several iGaming companies such as Yolo, Relax Gaming and SiGMA. She will lead the commercial growth of Xace and its group companies, including crypto and iGaming focused xda.io, helping to drive strategic initiatives across banking, fintech and iGaming solutions.
In her new role, she will mainly oversee the growth of the group’s sales, marketing and account management functions, ensuring a cohesive strategy that supports Xace’s ambitious expansion plans.
“I am incredibly excited to start this new chapter with Xace, and work alongside such a talented team and management. Transitioning into the fintech space, while still connected to iGaming, presents an exciting opportunity for growth and learning. I’m looking forward to applying my expertise to help Xace and its group companies achieve new heights commercially, while gaining deeper insights into the fast-evolving world of fintech,” said Petra Maria Poola.
Reuben Abel, CEO of Xace, said: “Petra’s extensive background in the iGaming sector, combined with her commercial acumen, makes her a valuable addition to the Xace team. She will play a crucial role in expanding Xace’s market presence and enhancing its suite of services tailored to the specific needs of the iGaming and fintech industries.”
The post Petra Maria Poola Joins Xace as Group Commercial Director appeared first on European Gaming Industry News.
-
Felipe Costa Nadalini Account Executive at Optimove5 days ago
Leading Brazilian Lottery Operator Grupo da Sorte Selects Optimove as CRM Marketing Solution to Accelerate Growth through Personalized Journey Orchestration
-
Central Europe5 days ago
ComeOn Group’s Sportsbook hub in Austria relocates to new office space to facilitate further growth
-
Asia5 days ago
Skillhub Online Games Federation forges strategic partnership with IESF to bring International Esports Championships to India
-
Australia4 days ago
ALLIANCE PARTNERS TABCORP AND 1/ST CONTENT COMPLETE DEAL WITH THE JOCKEY CLUB OF TURKIYE TO DELIVER TURKISH RACING TO AUSTRALIA VIA SKY RACING
-
Latest News4 days ago
MGA Games presents Wild Wonderful Fairy, a casino slot featuring Expanding Symbols and a Free Spins Screen
-
Baltics4 days ago
Genome launches SEPA instant payments, adding another valuable feature for iGaming companies
-
Asia4 days ago
GG.BET is inviting BLAST Premier: World Final attendees to the GG.BOOTH to take part in some fun activities
-
CasinCity5 days ago
Announcing the Launch of CasinCity Crypto Casino: Where Every Player is a VIP from the Start