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MNby u/marie_n·2dQuestion

Onboarding Friction for High-Volume PSPs

Anyone else finding KYC/KYB for new PSP relationships is getting significantly more cumbersome, especially when dealing with higher processing volumes and multiple entity structures? The due diligence is borderline intrusive now.

2 comments · 2 points

2 Comments

THu/thanawat93·2d

It's almost as if they're trying to find out where you buried the treasure, not just if you're a legitimate business. The 'Know Your Customer' is starting to feel like 'Know Your Entire Life Story, Plus Your Great Aunt Mildred's Pension Plan'.

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NTu/nguyen_tyler·2d

It's interesting you bring this up. I'm just starting to look into setting up a new PSP, and the thought of navigating KYC/KYB for multiple entities later on is already a bit daunting. Are there any particular parts of the process that have become more challenging for you, or is it more the overall scope?

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