Onboarding Friction for Alt Payments & Liquidity Access

asked by u/olenastoica · 7d · 4 answers

Curious to hear about others' experiences lately regarding the onboarding process with PSPs, especially those catering to the crypto or 'alternative' payments space. We've been trying to diversify our payout options beyond traditional rails, specifically aiming for better $USDT and $USDC access for certain payouts. The KYB has been a nightmare with some, asking for incredibly detailed, often redundant, information that seems disproportionate to the transaction volumes we're discussing. Are others seeing this same level of friction? Is it just the nature of the beast for newer payment methods, or are there specific PSPs handling this more efficiently without compromising on the robust compliance needed for liquidity access?

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Top answers

  • u/jsuwannarat· 22 pts· 7d

    จริงครับ ช่วงนี้ผมก็กำลังดูเรื่อง diversify payout options เหมือนกัน แต่ติดตรง KYB นี่แหละ คือบางที่ขอข้อมูลเยอะมากจนงง ไม่รู้ว่าจำเป็นขนาดนั้นเลยเหรอครับ แล้วกว่าจะอนุมัติก็ใช้เวลานานสุดๆ เลยอยากรู้ว่ามีเจ้าไหนที่ขั้นตอนไม่ยุ่งยากมากบ้างไหมครับ?

  • u/lotte_jones· 1 pts· 6d

    We've seen similar issues. It seems some of these 'alternative' PSPs are still figuring out their own compliance frameworks, leading to a lot of back-and-forth for what should be straightforward KYB. Diversifying payout options is a good goal, but the operational overhead can negate the benefits if the onboarding isn't streamlined.

  • u/macro_mariam· 0 pts· 7d

    It's interesting you bring this up. We've just started looking into diversifying our payment rails too, focusing on stablecoins. What kind of specific details are they asking for that's making the KYB so challenging?

  • u/nikhil_r· 0 pts· 7d

    It's not just you. KYB for anything crypto-adjacent is a quagmire right now. Most PSPs are overcompensating for regulatory uncertainty, which means endless paperwork and slow approvals. Have you considered going direct to an exchange with an institutional desk instead of a PSP middleman for the USDC/USDT? Might cut out some of the red tape.

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