Onboarding headaches with new Payment Service Providers for multi-currency settlement

asked by u/emilio_s · 1mo · 1 answers

Hey everyone, been meaning to post about this for a while. We're looking at integrating a new PSP for our global merchant accounts, specifically targeting better rates and more efficient multi-currency settlement across APAC and LATAM. Our current setup is fine for the big corridors, but when we get into some of the less common currency pairs, the fees start eating into margins pretty hard. The challenge we keep running into is the onboarding process with these newer, supposedly more agile PSPs. It feels like every single one has a slightly different take on KYB requirements, and it's not just the usual corporate docs. We're getting bogged down in proving ultimate beneficial ownership across a pretty complex corporate structure, even for relatively small initial volumes. Does anyone have experience streamlining this or know of providers who have a genuinely more efficient onboarding flow for established businesses with decent track records? It's becoming a real bottleneck.

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  • u/wkim· 4 pts· 1mo

    Ah, the quest for the mythical PSP that actually makes multi-currency settlement feel less like deciphering an ancient scroll written in small print. Good luck, and may your API integrations be less buggy than a summer picnic.

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