My Dad owns an ACH processing company. This is typical for any electronic payment processor. It does sound like they went overboard with the identity verification.
It just goes to show that disrupting payment processing is not just about some awesome new payment API. It's also about preventing fraud and crime without pissing your customers off. From my observations, this problem has yet to be solved.
It just goes to show that disrupting payment processing is not just about some awesome new payment API. It's also about preventing fraud and crime without pissing your customers off. From my observations, this problem has yet to be solved.