Genome’s team is back with yet another article that dives into different types of fraudulent financial situations that people and businesses can face. And this time, card-not-present fraud is on the agenda. Want to know how to avoid scams associated with card-not-present transactions? We gathered some tips below. What is a card-not-present transaction? Before we get to the fraud part, let us first explain what card-not-present transactions are in general. Card-not-present transactions (also known as CNP transactions) are the type of payments a person makes with their debit or credit card. Such payments happen remotely, meaning that the card and
Genome is showing support for all businesses that will struggle with the retailing of physical goods while switching to e-commerce. For all low-risk businesses that are already in Genome and new low-risk clients, the fintech company will open a business account for free and will cancel any monthly account fees from April 14th, 2020 till December 31, 2020. So business owners can kickstart and put their business on a full roll even faster than before the pandemic circumstances.
Offer will greatly benefit businesses like food services, toys, electronic goods, home appliances and entertainment systems, educational platforms etc. Genome API is easy to integrate and a merchant account opening as well all other services are completely online, so you can start accepting payments from your clients on your website in just a matter of days, so there’s no need to go to the physical bank. Business owners can open a business bank account, open merchant account, integrate API, receive payments and benefit from direct payouts — all from the safety of their home.
Open an account
in Genome online
Who can apply? Well, Genome announced that all existing low-risk business clients will skip all monthly account fees, so if you’re one of them — no actions required from your side. If you’re planning to join Genome and apply for a business account, please make sure that the business industry you operate in classifies as a low-risk one and the country of incorporation is marked as low risk as well, you can check that on Genome’s website. Please note that special conditions do not apply for businesses that operate in a high-risk vertical. To know more, please visit their rate page.
Genome is an Electronic Money Institution, licensed by the National Bank of Lithuania, founded in 2018. Specializes in online financial services for personal and business needs: opening of business, settlement and merchant accounts with a dedicated IBAN’s, providing SEPA and SWIFT transfers with possibility to do currency exchange and also payment processing via credit cards and all other alternative payment methods. For more detailed info visit our website.