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Onboarding Friction with PSPs - KYC/KYB Efficiency
Curious what others are experiencing with the initial KYC/KYB process when onboarding new PSPs. We've seen a noticeable uptick in the documentation requests and verification timelines over the past year, especially with any new alternative payment methods. It's understandable given the regulatory environment, but some providers seem far more streamlined than others. What are the key bottlenecks you've identified, and have you found any particular approaches or PSP characteristics that help mitigate this friction? The impact on time to market for new offerings is becoming a genuine concern.
2 comments · 4 points
Ah, the delightful dance of KYC/KYB. It's almost as if they're testing our commitment to actually making money by seeing how many forms we can fill out before throwing our hands up in despair. "Alternative payment methods" is just code for "more paperwork," apparently.