Basis Theory

What is Basis Theory?

Basis Theory is essentially an AI-powered bot designed to give you instant, accurate, and genuinely helpful information about payment regulations. It is having an expert on Mastercard and Visa network rules available to you around the clock, 24/7. It’s built to make navigating these complex rules much simpler.

Who created Basis Theory?

Basis Theory is a product of Compliance Genie, a company founded by Mit Shah. Mit also serves as the Co-Founder and COO of Method Financial. Compliance Genie itself is a bot that leverages AI to provide quick, precise, and useful insights into payment regulations. It started by focusing on the network rules for Mastercard and Visa, giving users constant access to expert knowledge right at their fingertips.

What is Basis Theory used for?

Basis Theory is incredibly useful for a variety of compliance and data security needs:

• PCI Compliance: It helps you meet the requirements for the Payment Card Industry Data Security Standard.
• AI-powered insights into payment regulations: Get smart, data-driven understanding of what the rules actually mean.
• 24/7 access to expert insights: You can get reliable information anytime you need it.
• Immediate and precise insights: No more waiting around for answers; get what you need, fast and accurately.
• Network rules of Mastercard and Visa: Specific, detailed information on these major card networks.
• Easy integration with Basis Theory: Seamlessly connect it with your existing systems.
• Compliance with sensitive data handling: Ensure you’re handling customer data the right way.
• Cost-effective tokenization: A budget-friendly way to tokenize sensitive payment data.
• Securing data and maintaining rules: Keep your data safe and stay on the right side of regulations.
• Speeding up compliance processes: Make your compliance workflows much faster.
• Immediate, precise, and helpful insights into payment regulations: Get the clarity you need, when you need it.
• 24/7 access to expert insights on network rules of Mastercard and Visa: Always have access to crucial information about these key payment networks.

How to use Basis Theory?

Getting started with Compliance Genie, the bot behind Basis Theory, is pretty straightforward. Here’s a simple breakdown of the steps:

1. Understanding Compliance Genie:

   • First off, know that Compliance Genie is an AI-powered bot. Its main job is to give you instant, precise, and helpful insights into payment regulations. It kicks things off by focusing on the network rules for major players like Mastercard and Visa.

2. Accessing Compliance Genie:

   • You can get 24/7 access to all this expert knowledge. Compliance Genie puts detailed information about payment regulations right at your fingertips, whenever you need it.

3. Subscription Options:

   • Compliance Genie offers different subscription plans to fit your needs and budget. For instance, there’s a Starter plan at $495 per month, which includes 10,000 tokens. They also have a Custom plan that comes with extra features, like responses specifically for PCI SAQ D and help with onboarding.

4. Using Compliance Genie:

   • Simply sign up for the plan that best matches what you need and what you can spend.
   • Then, use Compliance Genie to make sure you’re following all the payment regulations. It’s there to give you immediate guidance and help you securely manage sensitive data.

5. Benefits of Compliance Genie:

   • One of the big advantages is the convenience – you get quick and accurate regulatory insights without a hassle.
   • It also helps you stay on top of the latest compliance requirements, making it easier to navigate the often confusing world of payment regulations.

6. Feedback and Reviews:

   • If you’ve used Compliance Genie, sharing your experience through reviews is really valuable. It helps others understand what the tool can do and also gives the team ideas for making it even better.

By following these steps, you can effectively use Compliance Genie to stay compliant with payment regulations and really benefit from the smart, AI-driven insights it provides.