Are Monolithic Payments a Thing of the Past?
Blog post from Basis Theory
Payment systems are broadly described as either closed, monolithic platforms that bundle functions such as payment processing, checkout, point-of-sale operations, and related services under one provider, or open systems that let merchants combine multiple gateways, acquirers, fraud tools, and other partners into a customized stack. Monolithic systems historically simplified implementation by reducing the number of vendor relationships, but they can limit customization, negotiation leverage, scalability, integrations, and resilience, while creating potential single points of failure and higher long-term maintenance costs. Examples include early e-commerce platforms, traditional point-of-sale software, legacy banking architectures, and some full-service payment providers. Open payment systems and payment orchestration approaches aim to provide greater flexibility and partner choice, though managing multiple integrations can add complexity. The passage presents programmable payment vaults, including Basis Theory, as a way to centralize payment data, support compliance, connect providers, and help merchants control payment flows while migrating from single-provider systems.
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