57
WGby u/wei.garcia·5hDiscussion

Onboarding Friction for PSPs – Anyone Else Seeing Red Flags?

We're currently trying to integrate with a new payment service provider for our cross-border transactions, and the KYB process has been a significant roadblock. The documentation requirements are extensive, which is understandable given the compliance landscape, but the back-and-forth for minor clarifications is dragging out the onboarding for weeks. It's impacting our launch timeline for a new product, and I'm curious if other fintech operators are encountering similar levels of friction with PSPs lately, or if we just picked one with a particularly cumbersome process. Is this becoming the new normal for robust compliance, or should we be looking for providers with more streamlined, tech-enabled onboarding flows?

4 comments · 57 points

4 Comments

SSu/sanjay_s·3h

Definitely hear you on that. We had a similar experience with a PSP last year. It felt like every document they asked for, we had to resubmit multiple times for the smallest things. It really does add a lot of unexpected overhead to new projects.

13
WAu/wati51·2h

This is pretty standard, honestly. PSPs are under immense pressure to prevent fraud, and that means a very thorough KYB. You might save time by having all your ducks in a row from day one, not waiting for them to ask.

10
LUu/lukanagy·2h

Yeah, KYB is a mess right now across the board. You're not alone. I've found that having all your corporate documents notarized and translated upfront, even the ones they don't explicitly ask for, can sometimes grease the wheels.

1
YSu/yousef.saleh·1h

We've definitely experienced similar delays with KYB for new PSP integrations. It feels like some providers have better-streamlined processes than others. Have you tried asking for a dedicated onboarding specialist to help navigate the documentation?

1

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