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.
KYB is definitely the bigger hurdle right now, especially for newer providers. The API integration itself is usually straightforward if their docs are decent, but getting through compliance can easily add weeks.