Skip to content

Client Acceptance Policy

Please read this document to familiarize yourself with how Praxis Tech operates.

Purpose

This policy outlines the principles and procedures Praxis Tech Ltd. (“Praxis”) follows when evaluating, onboarding, and accepting clients. It supports our commitment to operating responsibly, ethically, and securely within the global payment ecosystem.

About Praxis

Praxis is a leading payment orchestration technology provider offering merchants a unified platform to connect with PSPs and financial service providers. We facilitate integration, routing, and orchestration of payment flows - we do not process or settle transactions, nor do we handle client funds.

Scope

This policy applies to all prospective and existing clients seeking to use Praxis solutions, including:

  • Praxis Cashier

  • Praxis Direct

  • Hosted Payment Fields

  • Praxis Safe

  • The broader Payment Orchestration Platform and features (e.g., Smart Routing, BDCC, Retry)

It is applicable to all departments and stakeholders involved in client onboarding and risk assessment.

Eligibility Criteria

Praxis works with licensed, reputable businesses operating in approved jurisdictions and industries, including:

  • iGaming

  • Trading / Forex

  • E-commerce

To be eligible, clients must:

  • Operate a legally registered and verifiable business;

  • Hold valid and relevant licenses or regulatory registrations (when applicable);

  • Have a transparent corporate structure with identifiable beneficial owners;

  • Demonstrate lawful use of Praxis services, in accordance with our requirements.

Prohibited Activities & Restricted Industries

Praxis does not support businesses involved in illegal or high-risk activities, including but not limited to:

  • Unlicensed gambling or betting

  • Arms or weapons trade

  • Narcotics or controlled substances

  • Human trafficking or exploitation

  • Sanctioned entities or individuals (as per UN, EU, OFAC, FATF lists)

  • Pyramid schemes, Ponzi models, or deceptive marketing Malware or cybercrime tools

Clients located in restricted or sanctioned jurisdictions - including the United States - are also ineligible.

Praxis reserves the right to refuse or terminate onboarding or pre-onboarding at its sole discretion.

Accepted Regulatory Licenses

To help prospective clients assess their eligibility, below is a non-exhaustive list of regulatory licenses and jurisdictions currently accepted for onboarding at Praxis. All licenses are subject to verification and approval by the Compliance team.

Forex Licenses

  • United Kingdom: Financial Conduct Authority (FCA)

  • Cyprus: Cyprus Securities and Exchange Commission (CySEC)

  • Germany: Federal Financial Supervisory Authority (BaFin)

  • Italy: Commissione Nazionale per le Società e la Borsa (Consob)

  • Austria: Financial Market Authority (FMA)

  • Australia: Australian Securities and Investments Commission (ASIC)

  • South Africa: Financial Sector Conduct Authority (FSCA)

  • Isle of Man: Isle of Man Financial Services Authority (IOMFSA)

  • Montenegro: Central Bank of Montenegro (CBCG)

  • Seychelles: Financial Services Authority (FSA)

  • British Virgin Islands: BVI Financial Services Commission (BVFSC)

  • Cayman Islands: Cayman Islands Monetary Authority (CIMA)

  • Canada: Financial Transactions and Reports Analysis Centre (FINTRAC)

  • Vanuatu: Vanuatu Financial Services Commission (VFSC)

  • Malaysia: Labuan Financial Services Authority (Labuan FSA)

Gaming Licenses

  • Malta: Malta Gaming Authority (MGA)
    Gibraltar: Gibraltar Gambling Commission (GGC)

  • Curacao: Curacao Gaming Control Board (CGC)

  • United Kingdom: UK Gambling Commission (GC)

  • Cyprus: Cyprus National Betting Authority (CGC)

Note: Acceptance is subject to jurisdictional risk appetite, legal opinion, and ongoing monitoring. Praxis reserves the right to update or modify this list at any time.

Policy Enforcement

Praxis reserves the right to:

  • Decline onboarding without justification

  • Request additional documentation at any time

  • Suspend or terminate existing clients if compliance issues are detected

  • Modify or update this policy in line with regulatory or operational changes

Data Protection in Client Onboarding

All client onboarding and verification procedures are conducted in accordance with applicable data protection laws, including the EU General Data Protection Regulation (GDPR). Any personal or corporate data provided by prospective or existing clients during the onboarding process is collected, stored, and processed securely, confidentially, and lawfully, and is only used for purposes necessary to evaluate eligibility, maintain compliance, and manage the client relationship. Clients may review how their personal data is handled in our Privacy Policy available on our website.

Contact

For onboarding support or compliance-related queries:

hello@praxis.tech
dpo@praxis.tech (Data Protection Officer)
Praxis Tech Ltd, 39 Kolonakiou Avenue, Frema Plaza, 2nd Floor, Office 201 Ayios Athanasios, 4103 Limassol, Cyprus