Question 1

What is Basis Theory and what problem does it solve?

Accepted Answer

Basis Theory is a data security platform for securely handling sensitive data, reducing PCI scope, and simplifying compliance.

Question 2

What is tokenization, and how does Basis Theory use it?

Accepted Answer

Tokenization replaces sensitive data with non-sensitive tokens to secure payments and protect against data breaches.

Question 3

What security standards does Basis Theory comply with?

Accepted Answer

It complies with PCI DSS, SOC 2 Type II, ISO 27001, and HIPAA security standards.

Question 4

How does Basis Theory help with payment orchestration?

Accepted Answer

It optimizes payment flows by routing payments through multiple PSPs, enhancing authorization rates and reducing costs.

Question 5

What kind of APIs and SDKs does Basis Theory offer?

Accepted Answer

Basis Theory provides APIs and SDKs for easy application integration to secure payment and data handling.

Question 6

Can Basis Theory handle recurring payments?

Accepted Answer

Yes, it manages recurring payments with features like smart retries and token updates.

Question 7

What is a customizable payment stack, and how does Basis Theory enable it?

Accepted Answer

It allows businesses to build payment solutions with preferred PSPs and methods, enhancing flexibility.

Question 8

What are network tokens, and how does Basis Theory support them?

Accepted Answer

Network tokens increase security and reduce fraud, with Basis Theory supporting them for higher authentication rates.

Question 9