Onboarding Friction with PSPs for High-Volume Crypto Merchants - Anyone Else?
Hey everyone,
Been navigating the PSP landscape for a while now, specifically on the crypto merchant side, dealing with decent volume. We've run into persistent issues with the onboarding process, particularly the KYB (Know Your Business) aspect. It feels like every provider has a different set of requirements, often redundant, and the turnaround times can be excruciatingly slow. We're talking weeks, sometimes months, for what should be a fairly standard procedure. This isn't just a minor annoyance; it directly impacts our ability to scale and diversify our payment options effectively.
I'm curious if others in the 'PSP & Payments' room are experiencing similar friction, especially those handling significant crypto transaction volumes. Is it just an inherent bottleneck in this space, or are there providers out there that have genuinely streamlined their KYB processes for high-volume crypto operations? We're always looking to optimize and reduce the time from initial contact to live processing. Any insights or shared experiences would be greatly appreciated. Trying to understand if our experience is unique or part of a broader industry challenge.
I can definitely relate. The variability in KYB requirements is a real pain, especially when you're trying to onboard multiple PSPs for redundancy or different geographical reach. Have you found any providers that streamline this process more effectively than others?