Next week I’ll be attending SBC Rio, the iGaming industry’s largest event in Brazil which is expected to host over 15,000 delegates from gaming operators, affiliates, lotteries, and much more. Talking with industry peers ahead of the event scheduling meetings, one topic keeps coming up in our conversations - growth across Latam!

While all those I speak with have expanding their global footprint in Latin America high on their wish-list, many are reluctant to expand due to the complexities and hurdles the region presents. This, fortunately, is where Praxis can support them through the transitionary phase. 

Next week I’ll be sharing how Payment Orchestration helps companies overcome the barriers to entry to the thriving Latam market.

Below I’ll break down the key messages on how Praxis helps merchants overcome each stumbling block that I’ll be sharing in Rio. 

Operational Hurdles

As companies expand regionally into Latam, they immediately face a multitude of local payment methods, different currencies, and varying compliance requirements. Working with multiple Payment Service Providers (PSPs) is therefore required and that means merchants have to operate across different Platforms, constantly updating and consolidating their data across PSPs. This complexity creates operational inefficiencies and adds unnecessary friction to scaling. 

Payment orchestration simplifies these challenges by connecting businesses to many PSPs, gateways, and acquirers in each region via a single integration that can then be managed within a central dashboard, thus facilitating updates in routing and simplifying reporting. 

Speed to market

For merchants, the pressure to move quickly and gain market share in new regions is immense. Setting up new payment methods, adapting to regional regulations, and adjusting payment processing can take longer than anticipated, causing businesses to miss opportunities. 

With orchestration, merchants can dramatically reduce time-to-market by utilizing pre-configured integrations with local payment systems. This helps companies rapidly expand into new regions or countries with minimal delay, allowing them to seize opportunities before their competitors. 

Optimizing Performance

As companies expand, ensuring they deliver customers a consistent and high-quality payment experience across regions is critical. Issues such as failed transactions, poor conversion rates, and slow payment processing are all barriers to successful growth. 

By utilizing an Orchestration Platform, businesses can enhance their payment performance by routing transactions to the best-performing payment gateways and cascading transactions if the initial processor is unable to complete the transaction. 

This improves transaction success rates and ensures faster, more efficient payment processing across different regions.

Praxis’ orchestration even comes with region-specific functionality to further optimize performance, including for instance developing cascading capabilities for local payment methods like PIX. The ability to monitor payment performance in real-time also enables businesses to take proactive measures to further enhance the customer experience. 

Fraud and Risk Management

Different markets have different fraud profiles, and businesses expanding into new regions need to adapt their fraud detection strategies to prevent chargebacks and false declines. When setting this up, however, merchants needs to be careful as misapplying fraud rules can hurt revenue and damage customer trust. 

That’s why orchestration comes with adaptive fraud detection systems that tailor rules based on the unique characteristics of each new market. Praxis Safe offers access to a Risk-Analyst which can support gaming companies expanding into new markets to adjust their fraud rules based on the local landscape, ensuring the right safeguards are in place while minimizing friction for legitimate transactions. 

Meet me at SBC Summit Rio

If you or your team will be attending the expo next week get in touch to book a meeting or if you can’t meet in person, we can arrange a virtual consultation call afterward.

Let’s work together!