Onboarding Friction for Mid-Tier PSPs - Is It Just Me?
Anyone else noticing an uptick in the administrative hurdle race when trying to onboard with mid-tier payment service providers recently? It feels like the KYB process, especially around beneficial ownership verification for complex corporate structures, has become significantly more protracted over the last 18 months, even when all documentation is readily available and properly submitted. I'm curious if this is a widespread experience or if it's specific to the regions/jurisdictions I'm operating in, perhaps due to tightened regulatory scrutiny.
I've definitely felt this. We're a relatively simple LLC, and even our KYB process with a mid-tier provider felt like it dragged on forever. Is this perhaps due to increased regulatory scrutiny across the board?