While we were designing and building card-issuing wallets and acquiring payment gateways for other companies, we had a chance to witness first-hand many things that are sub-optimal in the payment industry. AraxaTech is our attempt to make things better for everybody.
The whole journey with AraxaTech started back in the days when we were part of another company. Picture this, fintech development, and a bunch of folks not entirely thrilled with the solutions from other service providers. Our clients loved what we did, but we knew we could shake things up a bit. So, here we are, on a mission with AraxaTech to bring a fresh vibe to the fintech scene!
Dealing with payment processors, acquirers, or KYC providers felt like navigating through a maze. Test systems? Forget about it. Documentation? Often a missing piece or just plain wrong. And let's not even talk about the quality of solutions – let's just say "questionable" sums it up nicely.
Once these systems hit production, the shocker was real. The example data we were shown during integration was a far cry from the wild, unpredictable real-life data. Cue the manual fixes, frantic updates to make things less needy for human intervention, and the relentless effort to keep the systems running for our valued customers. It was a rollercoaster, to say the least!
Dealing with service providers during that time was like wrestling with a three-headed dragon. The major headaches included:
- Lack of Real Test Environment: A glaring absence of a reliable test environment meant developers were essentially working in the dark, taking shots in the dark without a safety net.
- Data Nightmares: The data we received often resembled a puzzle missing critical pieces. Quasi-dynamic structures without a formal definition turned data processing into a nightmare, making automation nearly impossible.
- Service Reliability Woes: Many providers claimed to be rock-solid with high availability and full fail-over capabilities. However, reality often slapped us in the face, revealing substandard reliability. One provider even suggested we play a game of monitoring roulette, picking the functional endpoint ourselves – not exactly the seamless service we were promised!
Faced with the trials of these challenges, we made a pact among ourselves: to create services that developers could embrace with ease. Our mission was clear – to develop core fintech technologies and deliver them in a way that lifts the burden off developers' shoulders. The goal? To make their jobs simpler, quicker, and spare them from the stress that once haunted us.
System architect, with more than 15 years of experience building a wide range of fintech solutions, including multiple digital wallets and payment gateways.
Head of development, with more than 5 years of experience in fintech.
Currently trying to convince ChatGPT it has become lazy!
Head of quality control, with more than 5 years of experience in development, system testing and quality assurance.
When he’s not catching bugs in our code, he’s catching fish!
Hugo de Jong
Early-stage advisor to technology companies with 15 years of experience focusing on strategic advice and accessing capital.
Where we are
Our offices are near river Sava, in the new part of Belgrade (which itself lies on confluence of Sava and Danube), in Serbia. Our working hours are from 9.00am to 5.00pm every working day, and we are in the Central European time zone. The easiest way to reach us is by using the Contact Us page.