Many types of bank accounts cover pretty much everything that people look for – from checking and brokerage to savings. But what about the basics? That’s right, today we’re talking business and merchant accounts! You see, not all clients sure, if they are required to have both these accounts, and what are their purpose. That’s what we talk about in this article. What is a merchant account? Do you need one for a business? A merchant account is a type of bank account that allows companies to accept electronic payment transactions for their goods and services. So, if you are
It’s been a bit more than a year since Genome opened its beta to the public during The White Nights Conference in Berlin. But a lot has happened since then: our EMI was recognized as the Best Online Business Payments Platform 2020 within Europe, launched a referral program beneficial to our clients, and also started a COVID-19 initiative to support low-risk businesses during the pandemic.
We tried our best to gradually enhance the quality of our services, and thanks to that became a part of something even greater.
Invest Lithuania, the Lithuanian investment promotion agency published a report called “The Fintech Landscape in Lithuania 2019-2020”. In it, the agency points out the rapid increase in the number of Fintech companies in the country since 2016. There were 82 companies four years ago, and in 2019 the number hit 200 and is expected to exceed 250 by the end of this year.
Thanks to such a growth Lithuania is now considered the largest Fintech hub within the EU by the number of licensed companies, and the second largest one in Europe. Moreover, the country took fourth place in Global Fintech Rank.
And Genome is proud to be a part of Lithuania’s Fintech landscape, as we are one of the 78 companies that represent Fintech startups ecosystem in payments and remittance sector. By the way, this is the most popular segment, occupied by 37% of Fintechs.
We continue to improve our services and features to reach more clients in Europe and beyond. Our effort recently was acknowledged by the EGR B2B Awards – we made it into the shortlist of companies nominated for the Innovation in payments solution title.