This is major news for startups in Europe. Major news.
The only issue I have is that the activation process seems like any other merchant account application. It will be interesting to hear from people who are rejected in the activation process to see how 'frictionless' these guys really are!
Sorry to hear that, but the activation process is unfortunately needed. That said, you can still start right away integrating our solution into your app. If you decide to indeed use our solution, you can just ask for the activation and in about 2 business days you'll be able to accept "live" payments.