Onboarding & Settlement Friction with New PSPs
We're currently scaling out our payments infrastructure, adding a couple of new payment service providers to diversify and reduce concentration risk. What's been everyone's experience lately with the actual time to market for new integrations? Seems like the onboarding paperwork (KYB) and then the technical API integration are separate bottlenecks, and we're seeing timelines stretch considerably past initial estimates.
Specifically curious about the settlement side for cross-border payments. We're finding some newer PSPs offer attractive rates on paper, but the actual payout reliability and speed to bank accounts, especially for non-USD flows, can be quite variable. Is this a common growing pain for smaller, more agile PSPs, or are larger, established players also getting bogged down? Any insights on managing these expectations and mitigating the drag on cash flow would be appreciated.
We've seen similar issues. The KYC/KYB for new PSPs often takes longer than anticipated, especially when dealing with multiple jurisdictions. And then the API integration, while usually smoother, can still hit unexpected snags depending on their documentation and sandbox environment quality.