Unregulated Israeli Payment Processor in Cyprus

Praxis a/k/a PraxisTech is the brand and platform through which Cyprus registered Praxis Cashier System Ltd and Praxis Tech Ltd offer their payment services. The Israeli Amit Klatchko (LinkedIn profile) founded the company. Praxis is notorious for facilitating scams.

Praxis is a VISA-certified Merchant Servicer and Third-Party Servicer.

The payment processor is not regulated under any regulatory regime—the company bills itself as a payment management system and a smart cashier software giant. According to the company, the Praxis Cashier platform allows registered merchants to access over 450 different payment service providers (PSPs) with more than 1,000 payment methods.

Praxis is very popular among scammers and online fraudsters. Many of its merchants are scam operating entities. The company has grown up in the binary options industry and has accepted and processed many binary options scammers. Still, it continues to onboard scam operators. Hence, it is included in the “Orange Signal List.”

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Latest update: 2 May 2022


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