One of the greatest challenges that CIOs in the banking industry face is the security and related liability concerns of their merchant services program. “BASYS offers a wide variety of security options including encryption, tokenization, and breach insurance, as well as holding liability for the bank’s merchant services portfolio,” adds Rick Hannon, EVP of Bank Services at BASYS.
BASYS provides a multitude of highly customizable services and solutions that include terminals and virtual portals for the e-commerce, mobile, and point-of-sale needs of their merchants. This empowers the company to ensure the delivery of the best solution for each merchant, ranging from a mom-and-pop operation, to a multi-million dollar corporation. BASYS offers advanced equipment and wholesale pricing similar to that of the largest processors in the industry. However, BASYS’ competitive edge lies in the personalization of their offerings, which allows the company to mimic the service philosophy, systems, and culture, of each of their bank partners. BASYS also allows financial institutions to leverage the company’s in-house processes to eliminate the aspects of merchant services that drain a bank’s resources.
Looking ahead, BASYS is doubling their current footprint by breaking ground for their new headquarters next spring. Other vital initiatives for the coming year include the extension of their next day funding cutoff times, expansion of existing solutions by offering new processing technology and capabilities.
BASYS has achieved a 99 percent retention rate with their bank partners throughout the history of the company. Hanna attributes this milestone to all the teams behind BASYS, and their core vision to offer clients the finest payment processing solutions. “We were founded on the principle of hiring the most competent team members to deliver the absolute best merchant services in the industry,” concludes Brad Oddo, CEO.