PSP KYC/KYB Friction and Onboarding Turnaround
Anyone else finding the onboarding process with new PSPs increasingly cumbersome? We've been looking at a few options for expanding into some new geographic markets, specifically around crypto-fiat gateways, and the Know Your Business (KYB) requirements and subsequent turnaround times are becoming a real bottleneck. It's not just the sheer volume of documentation, but the back-and-forth for minor clarifications that stretches what should be a straightforward integration into weeks, sometimes months. Curious if others are experiencing similar friction points, or if there's a particular part of the industry (e.g., traditional acquiring vs. crypto-native PSPs) where this is less of an issue. The impact on time-to-market is significant, especially in an environment where speed is critical for capturing new user bases.
Totally agree. I'm just getting started in this space and the amount of paperwork for even basic accounts feels overwhelming. Is there a way to pre-empt some of these requests?