2023 in Review
As 2022 came to a close, we knew we wanted to spend time on 4 key components of our product: Global expansion, developer integration experience, enhancing tokenization, and creating more native payment integrations. These key components drove huge successes across our customer base enabling each of them to speed up their product strategy, offset risks, or expand into a new region quickly.
🇪🇺 Solved GDPR and European Latency
This past year we focused our product efforts on launching our EU and India production environments to continue our global expansion supporting use cases and compliance requirements across the globe. This provides our customers with a programmable payments API deployed directly into the region their customers are in.
Improved Developer Experience
Our second focus was to decrease the burden on engineers that integrate with Basis Theory by creating a faster path to value with new debugging features, integration templates, and operational tooling.
A few key updates included:
- Simplified Reactor Formulas to improve developer experience
- Launched the Whitelabel Proxy and updated its capabilities
- Launched the new Basis Theory CLI to simplify code deployment and log debugging
- Implemented Kapa.AI to the developer docs for quick answers and solutions
- Extended the privacy capabilities of Elements
- Launched asynchronous Reactors
Expanded Our Payments Stack
We also focused on expanding our Payments Stack by providing an integrated approach for Fintechs and merchants to integrate with many important products that enable their ability to own the user experience of these products. These include 3DS, Network Tokens, Account Updater, Fraud tooling, and capabilities to allow integrations into any other payment service provider needed.
A few of these updates included:
- Empowered users to seamlessly integrate with leading anti-fraud solutions
- Enabled issuers to leverage KnotAPI to drive volume
- Enabled BIN detail lookup with the platform
- Launched new pricing tiers better aligned to Payment use-case
Enhanced the Platform
Each month of 2023, we focused on building the features and enhancements that empower users to build their ideal payments stack.
A few of these enhancements included:
- Launched Basis Theory Elements for React Native, iOS, and Android
- Enabled Payment Account Reference (PAR) access through the API
- Introduced the new Elements HTTP Client Service to enable dual-writing capabilities
- Launched MFA in the customer portal
- Enabled extended storage for CVC
- Launched Reveal to create visually stunning and interactive displays
While 2023 was a big year for Basis Theory and the platform, we’re looking forward to an even more impactful 2024. We have more improvements, enhancements, and growth planned to improve the experience for all developers and users on the platform.
