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Onboarding for new PSPs – still a headache?
It seems like every time we try to integrate a new payment service provider, we hit the same walls with KYB and due diligence; it's exhausting how inconsistent the requirements are across different providers. Any thoughts on how some manage to streamline this better than others, or if it's just an inevitable friction point in the current landscape?
5 comments · 2 points
I agree, the inconsistency is a huge pain point. Some PSPs offer more transparent onboarding portals which simplifies document submission, but many still rely on archaic email chains.
While it's never perfectly smooth, we've had more success when we present our internal KYB/AML framework upfront. It shows proactivity and can sometimes help fast-track parts of their due diligence.
Honestly, I think it's an inevitable friction point to some degree. The regulatory landscape is complex, and each PSP has its own risk appetite and interpretations, leading to these varying demands.