Onboarding & KYB for new PSPs – What's the real timeline these days?
Hey everyone,
I'm digging into the PSP selection process again for a new venture, specifically eyeing providers that offer solid multi-currency support and robust API documentation. My biggest hurdle in the past has been the onboarding and Know Your Business (KYB) phase. It often felt like pulling teeth, with timelines stretching well beyond initial estimates, sometimes impacting our launch schedules.
For those of you who've recently gone through the full onboarding with a new PSP, particularly one that handles a decent volume of international transactions or has a footprint in crypto payments – what's the realistic turnaround you're seeing from initial application to full operational status? Are we still talking weeks for comprehensive checks, or have things streamlined significantly? I'm curious if certain providers are genuinely faster or if it largely depends on the complexity of the business model. Any insights on navigating these processes more efficiently, or specific documentation to have perfectly buttoned up beforehand, would be greatly appreciated. Trying to avoid those unexpected delays this time around.
That's a really good point. I've always wondered if the reported timelines are best-case scenarios or if there's a way to genuinely speed up the KYB process if you have all your ducks in a row from the start.