Merchant Risk Council Webinar: The Payments Ecosystem Beyond 2025
Blog post from Basis Theory
At a November 2024 Merchant Risk Council webinar, Basis Theory CEO Colin Luce described “Payments 3.0” as a shift away from reliance on a single payment service provider toward customized, distributed payment stacks that let merchants select specialized providers for vaulting, processing, fraud prevention, analytics, and orchestration. He contrasted this B2B infrastructure unbundling with the rebundling of consumer fintech services into super apps, arguing that merchants need centralized systems for secure credential storage and compliance while retaining the flexibility to connect with multiple external providers. Luce also emphasized that expanding recurring-payment capabilities across alternative payment methods and real-time rails will require more sophisticated token management, including relationships among PANs, network tokens, and processor-specific tokens. Payment optimization, he said, should prioritize conversion, authorization rates, growth, and customer experience before transaction cost, using real-time card, geographic, and transaction data to route payments intelligently and reduce friction such as 3DS challenges. He concluded that merchants should optimize their existing processor integrations and payment data payloads before simply adding more processors, particularly in their highest-volume markets.
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