Anyone else finding KYC/KYB a real bottleneck with new payment solutions?
asked by u/smith_nico · 6d · 1 answers
Been looking into expanding our payment options, particularly for some cross-border transactions where traditional rails are just too slow and expensive. The new wave of crypto-enabled PSPs promise a lot, but the onboarding process has been a bit of a nightmare. Specifically, the Know Your Business (KYB) aspect – the amount of documentation required, the back-and-forth, the inconsistent requirements even between providers offering similar services. It feels like a significant hurdle for adoption, especially for smaller businesses or those just trying to test the waters. Just wondering if others are experiencing the same friction or if I'm just unlucky with the providers I've been looking at.